Yeah I was being inclusive since he also had the same view. Didn’t want to act like I was the only one that said it. Why would you leave out the part where I personally explained why I had that view? Also I had the trade on prior to him even making his comment. So your I’ll-will attempt to try and frame like I piggy backed off of his idea to be profitable is not only false, but it’s worst than that because you’re not even making the argument in good faith.
ES Journal - 2021/2022
- Thread starter Buy1Sell2
- Start date
Yeah I was being inclusive since he also had the same view. Didn’t want to act like I was the only one that said it. Why would you leave out the part where I personally explained why I had that view? Also I had the trade on prior to him even making his comment. So your I’ll-will attempt to try and frame like I piggy backed off of his idea to be profitable is not only false, but it’s worst than that because you’re not even making the argument in good faith.
Hard to say. I'm not a good chartist. Generally, I think it's hard to pinpoint the exact reversal of a trend. Usually, by the time a new trend is in effect and clear for everyone to see you may be late to the show. If it's a strong trend you can still make profits, though.
It's further complicated if you're not quite sure how to exactly identify a trend or recognize if it's up or down. Some may be at an advantage using indicators which are objective in making these classifications.
If by previous uptrend you mean the trend which topped out at ATHs, I imagine breaking that trendline was a good cue. The second test of that breakout and failure to make a new high could be considered confirmation.
For the weekly chart I posted I'm just using it as a container. As long as it's making lower highs and we're failing to breakout higher I'm thinking the trend is down.
Shorted the rejection of that supply zone looking for a test of the lower end of the range. Nothing fancy. I realize my stop may be inside "noise", but that's all I'm risking.
My statistical model suggests good chances of some upside movement today and a positive close, so I have to keep that in mind as well.
Good luck today everyone.
My statistical model suggests good chances of some upside movement today and a positive close, so I have to keep that in mind as well.
Good luck today everyone.
And out.
I think we have a good chance at breaking out of that range to the upside today, but I'm not playing it right now as I have some other stuff to attend to.
Market's been bouncing of yesterday's close so far in this ETH session and did so in that last thrust lower, too. When that held, I didn't want to risk more than a point if the market would trade higher once again.
I think we have a good chance at breaking out of that range to the upside today, but I'm not playing it right now as I have some other stuff to attend to.
Market's been bouncing of yesterday's close so far in this ETH session and did so in that last thrust lower, too. When that held, I didn't want to risk more than a point if the market would trade higher once again.
Okay. One last shot.
EDIT: Locking in one point. Risk free ride.
Curious if I should be happy with bottom of the range (3950) or if I should get greedy. Either way, I think I'll be flat by that report, although I suspect it won't have the same impact as the CPI.
2nd EDIT: Locked in 13 points @ 58. Going to let this ride for the rest.
The bottom of this range will either hold or it won't. I'm willing to take my chances risking a few unrealized points.
3rd EDIT: And stopped for 13 points of profit. Greed isn't good after all? I'll try to keep my schizoprenic commentary out of this journal today, but can't promise anything. LOL.
EDIT: Locking in one point. Risk free ride.
Curious if I should be happy with bottom of the range (3950) or if I should get greedy. Either way, I think I'll be flat by that report, although I suspect it won't have the same impact as the CPI.
2nd EDIT: Locked in 13 points @ 58. Going to let this ride for the rest.
The bottom of this range will either hold or it won't. I'm willing to take my chances risking a few unrealized points.
3rd EDIT: And stopped for 13 points of profit. Greed isn't good after all? I'll try to keep my schizoprenic commentary out of this journal today, but can't promise anything. LOL.
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Seems no worry about rail strike adding to economic headaches.
(Bloomberg)
Tentative pact
US railroad companies and unions representing more than 100,000 workers reached a tentative agreement, the government said. The breakthrough looks to avert a labor disruption that risked adding supply-chain strains to the world’s largest economy. The tentative resolution was announced just a day before a Friday deadline that could have seen rail workers walk off the job or be locked out by the companies, freezing critical infrastructure that transports about 40% of all long-haul cargo in the US and threatening a fresh wave of logistics chaos.
(Bloomberg)
Tentative pact
US railroad companies and unions representing more than 100,000 workers reached a tentative agreement, the government said. The breakthrough looks to avert a labor disruption that risked adding supply-chain strains to the world’s largest economy. The tentative resolution was announced just a day before a Friday deadline that could have seen rail workers walk off the job or be locked out by the companies, freezing critical infrastructure that transports about 40% of all long-haul cargo in the US and threatening a fresh wave of logistics chaos.
Another one from
(Bloomberg)
2) I continue to be astonished by the degree to which everything feels like the precise opposite of the post-GFC environment. When the Fed was mostly concerned about fighting recession, "buy the dip" became the mantra. Now that the Fed is in inflation fighting mode, "sell the rip" has been the winning strategy of 2022.
(Bloomberg)
2) I continue to be astonished by the degree to which everything feels like the precise opposite of the post-GFC environment. When the Fed was mostly concerned about fighting recession, "buy the dip" became the mantra. Now that the Fed is in inflation fighting mode, "sell the rip" has been the winning strategy of 2022.
Can you stop posting so much, you're making it hard to find monobrowtrading and macbookbro's quality post, still searching and can't seem to find even one market related post in last 48 hours.
I'll try to keep my post to a minimum too per a certain users request and not that anyone cares but going to give my macro view anyways.
If anyone is looking for a huge rally(that actually holds and sustains). Moving lower first below the 09/07/2022 lows seems like the best chance for that. I doubt they leave 09/07/2022 lows untested. In other words any further bull moves from this point up, is just going to likely end up being a further bull trap and than when we do retest 09/07/2022 lows and if it doesn't hold, that's when we're going to get the actual move down, because we will have all those additional longs in the setup to puke out and squeeze as well.
Doesn't look like high probability we get any type of strong rally that holds regardless of which scenario plays out, just at least the first scenario would give us a better chance of that.
If anyone is looking for a huge rally(that actually holds and sustains). Moving lower first below the 09/07/2022 lows seems like the best chance for that. I doubt they leave 09/07/2022 lows untested. In other words any further bull moves from this point up, is just going to likely end up being a further bull trap and than when we do retest 09/07/2022 lows and if it doesn't hold, that's when we're going to get the actual move down, because we will have all those additional longs in the setup to puke out and squeeze as well.
Doesn't look like high probability we get any type of strong rally that holds regardless of which scenario plays out, just at least the first scenario would give us a better chance of that.