ES Journal - 2019/2020

[EON Kid]

Long ES 3658.5 tight stop

eXIT LAST 1/2 3673.5 +15

 

[Laissez Faire]

eXIT LAST 1/2 3673.5 +15

Well done!

 

[EON Kid]

Long 3671.50 Initial stop 3650.00

My analysis and thinking was that this was a good level for a Xmas rally to launch from.

 

[EON Kid]

Well done!

Thank you LF

 

[interdim]

Great job EON Kid...Once the market went above the 5min 3x3 at 11:15 it hasn't closed below it since then. 2 hours now pretty much straight up!

 

[Laissez Faire]

Update. Must have been something magical about that 3653 level. LOL.

 

[a drop of water]

Update. Must have been something magical about that 3653 level. LOL.

View attachment 246600

3653 is the 50% PB of the recent up move of 3636 to 3671 using ETH chart.

 

[Laissez Faire]

3653 is the 50% PB of the recent up move of 3636 to 3671 using ETH chart.

Interesting. Not how I derived it, actually. Must have been an interesting confluence. Usually don't hurt when that happens.

 

[a drop of water]

Interesting. Not how I derived it, actually. Must have been an interesting confluence. Usually don't hurt when that happens.

quite a few traders have been sharing their using effectively 50%PB a lot.

 

[Laissez Faire]

quite a few traders have been sharing their using effectively 50%PB a lot.

Sure. Definitely worth paying attention to.

But on a move-by-move basis - not so sure. And often you'll have multiple moves on your chart. So, do you look at the 50 % of all those...? Suddenly, you have a lot of lines on your chart which all can 'matter'. I've done some work on the distribution of retracements on 'major moves'. There does not seem to be anything magical about the exact 50 % retracement as far as I can tell.

I pretty much only use RTH charts/values for my analysis, but I know other profitable traders would disagree with that...