ES Journal - 2021/2022
- Thread starter Buy1Sell2
- Start date
The rally which started on Tuesday lost momentum and did indeed end up printing a mini double top on the daily chart. I'm curious if this was because of the news coming in on Thursday/Friday or if this would have been the same outcome regardless. I suppose we'll never know that for sure.
The short term trend appears to have reversed down again from here.
SPX Daily
It could be random or not, but the market did bottom out near a trend line at Friday's Close.
As of now, it looks like a test of that 4280 zone is in play from here. I'm out of my depth 'predicting' this kind of action, but I wonder if breaking this zone could set up another major leg lower.
NQ looks weak as hell with these last weeks appearing to be one major bear flag. I'm not tracking NQ in detail, so I missed that it already corrected 18.26 % top to bottom. Wow.
Down 15 % as of Friday's close. Comparatively, ES down only 8,32 % top to bottom as of Friday.
Will be paying close attention to that 14K level.
Down 15 % as of Friday's close. Comparatively, ES down only 8,32 % top to bottom as of Friday.
Will be paying close attention to that 14K level.
Following such a week on ES it's very rare (9 out of 10) that we doesn't at least get a lower low in the week to come. Doesn't necessarily have to be a major week down, but a dip lower (which may be bought) seems highly probable from here.
Now ring that bell and let's play!
Good luck all and stay safe.
Now ring that bell and let's play!
Good luck all and stay safe.
Following such a week on ES it's very rare (9 out of 10) that we doesn't at least get a lower low in the week to come. Doesn't necessarily have to be a major week down, but a dip lower (which may be bought) seems highly probable from here.
Now ring that bell and let's play!
Good luck all and stay safe.
NQ and ES are both looking a bit oversold on the 4 hourly. I am staying short here, but I can see a move up or sideways until the moving averages catch up a bit, then a continuation down.
I noticed that is the latest ‘decline’ in nq some growth stocks didn’t partipated enthusiastic to the downside. Could be coincidence. Wouldn’t it be logical that growth tech stocks will be extra negative influenced by extra rate hikes ( and thus are good short candidates)?
Which MAs are you using? Do you find them helpful/important in your trading?
Thank you.
The reality is that the market rallied right into resistance and it became overbought in the short-term so risk had picked up for sure.
I use the 12 and 24 EMA mostly. I use them to determine my entry and exit points. For example in a downtrend I will look to open a position just after a bounce down from an MA/resistance level, and then close the position when oversold and too far from an MA. I wouldn't look to open a short position when the instrument is oversold and too far from an MA typically.
FBO out of this range on the European Open. I was short and stopped out for 15 points. Back in short and waiting for this flag to break.
