ES Journal - 2019/2020

[syswizard]

Looking for long entry and a swing above 3350 on the Open, but might see some counter movement first.

Nice call....you got 3363...so far. Every dip has been bot.

 

[formikatrading]

Yes - moment of truth here.

Now showing 1520/21 double-top.

 

[formikatrading]

NQ is the one I'm watching now as it is starting to lead. Looks like we could get some continued upward movement but stay flexible. Again, operating with assumptions which could prove to be incorrect. Just trading what I see for now.

 

[Laissez Faire]

What I like about how you think is that you're looking at possible scenarios and not getting locked into a stubborn, biased view. Definitely a professional approach.

Thanks.

I like to predict and plan the day ahead. At least roughly. Today was one of those days where I had a very high probability (80 % +) of my main scenario playing out. Yesterday it was more of a mixed bag, while slightly favoring the down.

Usually, it's a matter of conditional probabilities. So, if something is not clear at the Open, it might be more clear after 1 or 2 hours have passed.

I captured a decent take this morning, but now feel like I took an exit too soon. I still think there's more upside potential, but I don't want to buy here either as I don't like the R/R at the end of this major swing and it's less uncertain after the marked moved this much. So, will probably call it a day.

 

[Laissez Faire]

A pullback to 3348/50 might be a great long entry. But as bullish as this market is today - we might not get that much?

Definitely looks like 3377 is the target for today.

 

[trdes]

Fair enough, I could see this week finishing high / higher for sure particularly on the NQ, but I don't generally look that far ahead, since I only intra-day trade. But for tonight / tomorrow I'd be surprised if NQ doesn't fill in at least 11210.50 and possibly even 11053.25.

That would ease some of the overbought conditions and than allow for a strong finish of the week. We'll see what tonight / the debates bring and trade accordingly tomorrow.

I over slept which is rare, but looks like we cleared the the minimal requirement for the overbought on the NQ and also the ES and than market rocketed up.

The levels you posted for ES, we're means reversion / overbought levels that I use for targets when a sell signal is generated. Are you using something to mark them or just manually calculating them based on experience?

EDIT: Meant to quote more this is for you @Laissez Faire

 

[formikatrading]

Since this is ES thread, here is what I'm seeing. ES testing prior high. My best guess is we push through but stay flexible.

 

[trdes]

A pullback to 3348/50 might be a great long entry. But as bullish as this market is today - we might not get that much?

Definitely looks like 3377 is the target for today.

3353.50 would be a possible pullback area, but that's a secondary buy and I missed the initial buy so should of already been long. So, not sure I'll take it.

 

[formikatrading]

S&P rallied right into that gap area. I lightened up on some of my positions I have added along the way but still holding some from last week. Still operating under same assumptions, though.

 

[Buy1Sell2]

The bottom is now in on this pullback and we are headed higher, much much higher. I am looking for a barn burner today that would be bigger than the one Monday afternoon and then a continuation up.

This upmove should take us to 3323 at least and then build there or go straight thru for the push higher, much much higher.

Absolutely massive long Vol. Do you concur?

BOON TIME!!!!