Nice call. I knew markets bearish, but really thought we'd get a squeeze to second target today was a nice setup. Another good lesson, trade what is, not what you think. We candle closed below the distribution zone + I got a sell signal and i didn't look short. Just held long and lost my profits for the day on the first beautiful high probability trade. Through away my gains on garbage trading near relative highs.
ES Journal - 2021/2022
- Thread starter Buy1Sell2
- Start date
Nice call. I knew markets bearish, but really thought we'd get a squeeze to second target today was a nice setup. Another good lesson, trade what is, not what you think. We candle closed below the distribution zone + I got a sell signal and i didn't look short. Just held long and lost my profits for the day on the first beautiful high probability trade. Through away my gains on garbage trading near relative highs.
Updated RTH-only, ES 15 min.
No adjustments other than scaling to show current day and volume visibility.
Notes:
1) todays volume is highest since December 20
2) todays RTH closing is within left channel boundary. The boundary was not even penetrated.
3) Volume will be a major factor as to if this leads to a new (downward) trajectory of the channel, of if an attempt at another traverse (partial or full) of the channel. There are many exogenous factors possible at this time, and the weekend is here. I do my analysis bar-by-bar.
Original chart post is here...
ES Journal - 2021/2022
No adjustments other than scaling to show current day and volume visibility.
Notes:
1) todays volume is highest since December 20
2) todays RTH closing is within left channel boundary. The boundary was not even penetrated.
3) Volume will be a major factor as to if this leads to a new (downward) trajectory of the channel, of if an attempt at another traverse (partial or full) of the channel. There are many exogenous factors possible at this time, and the weekend is here. I do my analysis bar-by-bar.
Original chart post is here...
ES Journal - 2021/2022
Nice calls being made here. Glad Vanzandt and Buy1Sell2 ‘convinced’ me to join the short trip and to put the permabull glasses in the closet.
Closed the short position at the close. Too much blood on the street already (I thought) and time for at least a temporary bounce up tomorrow or Monday. What you guys think?
Closed the short position at the close. Too much blood on the street already (I thought) and time for at least a temporary bounce up tomorrow or Monday. What you guys think?
lol, based on comments looks like I was one of the few idiots today on the long train. Kind of let myself down today, because I am super bearish on equities. My initial long was textbook and near perfect, but I failed to switch gears and lose my bullish bias once I had very clear and precise information and signals telling me to at least go flat, if not directly short.
Glad others caught the move though.
Glad others caught the move though.
Ahhhhh.... I dunno. Tomorrow could be brutal. NFLX is down 40% from its highs. FB, AMZN, MSFT, GOOG... they're not down that much. If they selloff, whew... it'll be ugly. And then there's TSLA. It carries a lot of weight in these indexes, and as much as I love it, it could easily drop 30% from here.
So yeah, maybe a dead cat bounce, but I'd be careful for now. Next week we have TSLA and MSFT reporting. Fear of that alone may drive things lower.
I genuinely can't tell if you're being rude or not. Me losing all my morning gains and also missing out on the short, I take no congrats in that at all lol. Tomorrow another day though, will just stick to what chart tells me.
There you go man. Take the lesson and Turn the page.
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