We're all on Corona Holiday ... see you in September.
ES Journal - 2019/2020
- Thread starter Buy1Sell2
- Start date
- Status
We're all on Corona Holiday ... see you in September.
Out 37
After the fact: if using two lines 2942 and 2953 ( 50% PB) to guide trading starting at 2:16pm ET when i asked the question, ----- sell top area 1 buy bottom area 2, sell top area 2, buy bottom area 2; the last long has been stopped out; it would have worked well to the close. When more posts are talking about range market, then probably the time to use the trick? Just curious about it.
Ouch. Today's close was definitely not usual.
Yeah last two longs was a return to the 'pressing' habit in anticipation of a turn back up to the highs. Needed to wait and only take longs off the bottom of the range.
Pop? Drop? It's more like a whimper. Somebody needs to attach a dynamite to the fat lady's ass. Yeah, ES is too damn fat.
Drop it ‘twas... what a Pathetic display by the Bullys these last 2 sessions... unlimited Fed funding & MSM chatting them up... & they defecate all over themselves... Ooof!
If I am understanding your question correctly, yes while in a trading range (roughly a horizontal channel) it is a buy low, sell high scalpers market. I would recommend scalping only for experienced and disciplined traders as it is a tougher game that trend trading.
I am attaching a chart to show you what I saw today. The first down arrow was a pullback short after a bear breakdown from a range. Depending on ones trade plan, you could be out with a measured move and or keeping a stop above the entry swing in which case there was never a strong technical reason to exit any shorts left. Had you taken the measured move for a profit, the second arrow gave a re-entry short which fizzled. There were reasons on higher time frames to distrust that entry but it was valid none-the-less.
If you were flat and it became clear that we were indeed in a trading range, the triangles on the chart are examples of the buy low-sell-high scalps which could have been taken. The high line over the range by the way is also right at yesterdays low which acted as resistance while the range developed.
Again the scalps are for experienced traders. It's best to wait for a clear breakout of the range with the understanding that most range breakouts will fail...that's why price falls back into the range. Inexperienced traders are getting all excited about bull breakouts and must sell their position when it fails while at the same time experienced traders are selling into short positions and vice versa. Anytime you are in a trading range, bull and bear arguments can be made
I forgot how much work straight up scalping in a tight range was... went on a 2 1/2 hr scalping marathon to eek out a 2200 day as I missed the morning session.... certainly don’t want to make a habit of that again....
- Status