ES Journal - 2021/2022

[Relentless]

I don't disagree that the close was weak. I continued to buy the SPY hoping for a bullish continuation into the close. I was commenting about your trendlme channel and the last candle....it also closed above the MA on your chart.

Oh gotcha - misunderstanding!

Ya that's our current session's candle. Looks like we are pretty flat so far. And yes being above the EMA is generally bullish.

Econ data is Kabuki Theater to me but perhaps the jobs numbers in the morning can send us definitively in one direction.

 

[mervyn]

Poor close by the bulls.

Tomorrow should get interesting.

expect to touch 50 dma, this afternoon was a disappointment.

 

[formikatrading]

So I could be wrong but I have been in the game long enough to see some things before. In isolation, yesterday's close causes some people to doubt the rally when in fact that pattern in context ends up being bullish. If this is the case, market should get more upside traction today. I'm in from a few days ago so I can give the market some room but playing for a much more bullish scenario.

 

[formikatrading]

This game is all about trading what you see and not what you think -- and having conviction.

 

[mervyn]

L 4388 C 4405, 17 points, Fibonacci 50% line hit, let's see if we can touch 50dma

 

[Laissez Faire]

Probably a drop to 90 on the Open. Long from there if that holds.

 

[Laissez Faire]

Done. Bounce or drop from here.

 

[formikatrading]

This is tough play here because even if you're bullish there is overhead resistance --- easier to let it play out if you were in at lower levels because of the cushion. I'm still thinking there is a bigger picture bullish scenario but acknowledge I could be wrong. Close today will give us a lot more info.

 

[Spooz Top 2]

The 10/6 closing bully hammer screamed follow thru for 10/7 ... right up to the Daily TL Kiss at 4421... parameters & lines in the sand are set here as any close above 4421 swing hi / Daily TL shall negate my big pic sell stance... that said, I`m still there with zero drawdown as Entries always dictate the trade!!! 10/7 follow thru PA missed my BE stop by about 15 handles... Takes big stones & high pain tolerance to sit thru conviction on a trying to capture the "The Turn" & the whole enchilada!

My traditional/typical scaling methodology would have served me much better here on the position account but I chose to switch gears with conviction to see it thru, which I will continue to do here on core position.
Trading multiple accounts allows one the flexibility to catch the rips on smaller TF`S vs positioned on larger TF! Keep the Vol coming as that is oxygen to all traders!

Hands Hi... Chin Tight & Fight the Fight!

 

[Spooz Top 2]

This game is all about trading what you see and not what you think -- and having conviction.

This is a game of observation! I`ve always lived by that mantra & still do.... That said, what ones sees on the Daily/ Weekly will often, if not always, differentiate what one observes on the 5-10 min window... & not allowing varying TF`sprovide you with conflict of interest is a delicate balance!