Been watching this. Maybe we finished this pullback. I'm still holding through this mess.
ES Journal - 2021/2022
- Thread starter Buy1Sell2
- Start date
IMHO - we're currently in a market regime where it's important to stay flexible and loose and don't marry any particular conviction/direction. One could argue that should be the modus operandi at all times, but for the first time in a while BTFD actually involves risk and we're trading in fairly wide ranges and obviously not a one-way market.
My perception is that at the moment we're in one big ass trading range which will turn out to be either a consolidation before the next leg lower or resumption of the long term trend up. I have no idea which it'll be. I wouldn't mind lower, but I have a hunch that's wrong...
My perception is that at the moment we're in one big ass trading range which will turn out to be either a consolidation before the next leg lower or resumption of the long term trend up. I have no idea which it'll be. I wouldn't mind lower, but I have a hunch that's wrong...
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You're right @Spooz Top 2. Perma bull hopium abound in this place. I don't care as long as vol keeps steady but wow - learn to read a chart. Been in a down channel since we peaked Sep. 3rd.
Yes we are currently drifting above it in AH. I'm still not convinced. The last 4 times bulls tried they got rejected (last time in spectacular fashion I might add.) Let's see if bulls can even get a close above first. Even then a move to a new low is likely.
Could we reverse and rocket higher? Sure. Likely? No.
You're right @Spooz Top 2. Perma bull hopium abound in this place. I don't care as long as vol keeps steady but wow - learn to read a chart. Been in a down channel since we peaked Sep. 3rd.
Yes we are currently drifting above it in AH. I'm still not convinced. The last 4 times bulls tried they got rejected (last time in spectacular fashion I might add.) Let's see if bulls can even get a close above first. Even then a move to a new low is likely.
Could we reverse and rocket higher? Sure. Likely? No.
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I anticipate that I will be closing my Dec contracts at a loss in the middle of the month. Prolly' not as severe a loss as it is currently sitting right now. But I will just roll the loss, and get back into profits Q1 2022.
PRM. Prudent Risk Management.
OMG, I felt like an android typing that, with no emotion.
Unfortunatley for me, I do have emotions. And intuition, somewhat.