ES Journal - 2019/2020

[theapprentice]

L 36
traget 56

holding over the weekend.
Time to hit the beers
Later

 

[Laissez Faire]

holding over the weekend.
Time to hit the beers
Later

You definitely earned some beers this week, dude. Enjoy!

 

[Buy1Sell2]

Regardless of your bullish bias - no concern about those huge gaps below...?

Only gap to be concerned with is the one above.

 

[Laissez Faire]

Only gap to be concerned with is the one above.

We will all know in the fullness of time.

Even a strong bull market retraces. Always tough to bet against the FED, The Donald and an abundance of cheap money, but I certainly wouldn't be surprised to see us trade down to 2680 in the nearby future, i.e., within the next 1-2 weeks. Might have to tag 3129 or so first.

On the other hand - there are factors which suggest this can keep ripping for a while longer still.

So, certainly not swing shorting in absence of a strong sell signal.

 

[theapprentice]

L 36
traget 56

looks like it actually already hit
+20
Rerun the fun next week

 

[arbuckletboone]

Long 2988; tgt 3018

​

extending target to 3048

yep

 

[Relentless]

Regardless of your bullish bias - no concern about those huge gaps below...?

I have to ask because I keep seeing this stuff continue to pop up from a few of you.

Could you please explain the significance you are always referring to when you talk about "unfilled gaps" and "there is a lot of air above / below" ?

There always seems to be this allure around gaps eventually having to be filled and what not.

Even Spooz just the other day mentioned still having a lot of air below us.

What's this all about?

 

[schizo]

Trading is nice and all, but don't forget to enjoy life. What good is money when you can't have fun?

 

[EON Kid]

I have to ask because I keep seeing this stuff continue to pop up from a few of you.

Could you please explain the significance you are always referring to when you talk about "unfilled gaps" and "there is a lot of air above / below" ?

There always seems to be this allure around gaps eventually having to be filled and what not.

Even Spooz just the other day mentioned still having a lot of air below us.

What's this all about?

Market profile is good for understanding market structure. Statisticians can give you the numbers on gaps.

A chart attached

 

[theapprentice]

3k+ looks good here. 3060 area maybe?

Why 3060 ?

Only an idea.
View attachment 228785

Projected channel top around 3030 ish.
Measured move target 3100+.
Maybe a break out of the channel to 3050-60 area, pullback to test the channel and then towards 3100+?
At least that my guess for the bullish scenario
I'm currently flat in my 'swing account' but hoping for a pullback to go long. I really don't like chasing it, although the Fed have been so kind to me on longs recently that even when I chase it on the long side and think i've probably got a bad price, It works out fine lol

Just got reminded of this; Played out pretty well, in hindsight (from 2980 or so)
I'm guessing we go to 3140 or so next. Not banking on much of a drop before that.
Don't think they'll let it happen. They've made their position clear and will just throw trillions at it
Maybe 3150, then a drop down to 2900 ish, then all new time highs? 4k or whatever
Who knows.