ES Journal - 2021/2022

more trend lines............. 4525 and 4400............... new trendlines 4525 and 4400.png
 
newbie463 said:
more trend lines............. 4525 and 4400...............View attachment 278395
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Do you think your green trend line might have been broken? Or are you keeping it as valid? What do you think of a downward trend line between the two recent peaks?

I am trying to decide if we will see some follow through tomorrow. If the green trend line is broken more convincingly I would lean towards a move to the Jan lows then a stop on Friday leaving a double bottom to keep people guessing over the weekend.
 
answers in bold are my humble opinions:

c1rcle said:
Do you think your green trend line might have been broken? yes Or are you keeping it as valid? all lines are valid depending on PA at the lines. TLs could be support or resistance. (Spooz Top 2 mentions TL kisses from underneath frequently) What do you think of a downward trend line between the two recent peaks? the red downward line between the recent peaks on my chart is just random placement of a possible measured move.

I am trying to decide if we will see some follow through tomorrow. If the green trend line is broken more convincingly I would lean towards a move to the Jan lows ( I agree, although it might take longer than a day. ) then a stop on Friday leaving a double bottom to keep people guessing over the weekend.
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I am certainly more inclined to sell rips at this point. I personally wont buy right now unless I am sitting in front of the screen. (for a trade, i mean.) I'm nibbling just a bit in the investment portfolio.

just crazy thoughts here, but if NATO and Russia can agree on something over the weekend, we could be right back up at 4520 next week.

newbie
 
newbie463 said:
answers in bold are my humble opinions:



I am certainly more inclined to sell rips at this point. I personally wont buy right now unless I am sitting in front of the screen. (for a trade, i mean.) I'm nibbling just a bit in the investment portfolio.

just crazy thoughts here, but if NATO and Russia can agree on something over the weekend, we could be right back up at 4520 next week.

newbie
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Yeah good point! That would be quite a drop in a single day thinking about it!
 
Take a look at a 4 hr chart. Looks like they’re gonna try to develop a W reversal. This has been the go to reversal over the last few years on dips. I’m expecting it to fail obviously. So maybe we need at at least 4 bars of consolidation before a drop. Looking at the weekly, the lows of 3 weeks ago are in okay for Friday, but next week is more likely.

look for a good spot to go short and hold over a few days IMO is best play
 
wondering about this scenario:

1. Wahoo, there's some agreement in Eastern Europe over the weekend. - Market takes off.
2. the next day or two after that.....Oh no, I forgot about higher rates - Market gets smacked down again.
 
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