ES Journal - 2019/2020

[Laissez Faire]

This is some type of loading the bus. Either NQ is going to rocket up here from short covering soon or ES is going to pull back at least to 3419.75. I am shorting NQ now @ 11538.50. if goes above 11553.00 ill exit.

NQ still looks like garbage to me.

I'm a trapped long and not enjoying this, but remember that we're still well in the green on the day.

So, I still consider this a consolidation in green territory and any move lower is a pullback.

Would need to see a sharp move below 3407 to change my mind. 11480 on NQ.

But NQ is firming up now and ES just completed a measured move. So, still feeling bullish.

 

[trdes]

If we hit 11516.50 ill move stop to BE +3 tick, than it either goes or it doesn't.

EDIT: Hit be +3 tick. Now see if ES gets the 3419.75 finally.

 

[trdes]

If we hit 11516.50 ill move stop to BE +3 tick, than it either goes or it doesn't.

EDIT: Hit be +3 tick. Now see if ES gets the 3419.75 finally.

I covered 11507.50 here.

 

[trdes]

WOW, that was some difficult stuff to trade, unbelievable consistent bid, but finally got the expected ES pullback and got on the board. I am going to just wait patiently again for next trade. Don't have the best read today on the market.

 

[trdes]

I am going to look for another short on NQ. If get a signal on smaller chart will take it. Still larger charts show it's difficult for NQ to make and hold a sustained move here. Just being careful given how the day has been so far and that ES larger charts are divergent from NQ. If ES keeps going up, obviously NQ not likely to go down very much.

 

[trdes]

Short NQ @ 11549.50 here(current price is 11548.75) If goes above 11558.00 i'll be out if we hit 11541.75 ish ill move stop to be + 3 tick than it either goes down or doesn't.

 

[trdes]

Short NQ @ 11549.50 here(current price is 11548.75) If goes above 11558.00 i'll be out if we hit 11541.75 ish ill move stop to be + 3 tick than it either goes down or doesn't.

Got stopped BE +3 tick, too tight of stop should of kept the 11558.00 in hindsight, wrapping up for the day. Trade well everyone.

 

[trading_jean]

I suspect that the market is in the process of factoring in a Trump victory.

I am from Europe so might be completely wrong about this, but it seems to me the market should be in the process of factoring in a legal battle over who won for weeks. If not months.

 

[Laissez Faire]

WOW, that was some difficult stuff to trade, unbelievable consistent bid, but finally got the expected ES pullback and got on the board. I am going to just wait patiently again for next trade. Don't have the best read today on the market.

Challenging or at least different session for sure. If I didn't have my statistical model to guide me - I would have felt lost today for sure.

I knew that 3417/20 had a very high probability of holding, but I certainly didn't enjoy it when the market dipped down there.

Updated data as of right now gives about 75 % chance of new highs and closing higher than this last price (34).

So, holding my longs a bit longer, although I don't particularly like this lack of momentum...

 

[formikatrading]

Hey man! I know you're a good trader. Convince me of your bear thesis on the NQ. My thesis is that the market is melting UP in the bigger picture (although some of the micro cycles may be different) but want to hear your view.

Got stopped BE +3 tick, too tight of stop should of kept the 11558.00 in hindsight, wrapping up for the day. Trade well everyone.