ES Journal - 2021/2022

[schizo]

The yawning bear continues... Headed lower in a slow pace, although one have to admit that today's drop was kind of fast and clean now that I'm back online to check my charts.

Interesting how well the year lows held up on this first test. I have a hunch we'll see them again soon enough.

Had this been 2008, your head would have been handed to you on a shiny silver platter already. Just kidding.

 

[SunTrader]

But most reversals in the past had similar looking candles.

Sorry, don't it see.

Many, but certainly not most, have small bodies with long wicks ... on the bottom or fairly equal wicks top/bottom. Not many longer wicks on top. On reversals anyway.

 

[Laissez Faire]

Supply and demand.

A long from here with a mid range target doesn't seem like the worst idea:

 

[mervyn]

Six red candles in a row is rare.

 

[Laissez Faire]

Six red candles in a row is rare.

Yes.

A candle can be red and have a positive net change. What he have now is 6 negative closes, both down on the open and a negative net change.

That's happened only 7 times (today included) since 2008.

I wonder what happened the next day following such a pattern...

 

[SunTrader]

I see 7, if you are referring to the candles leading into big green one on the left?

 

[Laissez Faire]

I see 7, if you are referring to the candles leading into big green one on the left?

Not sure what you're looking at, but I'm pretty sure both I and @mervyn are referring to the daily chart.

 

[SunTrader]

Not sure what you're looking at, but I'm pretty sure both I and @mervyn are referring to the daily chart.

Your 60minute chart that is right above mervyn's post.

???

 

[Concinnity]

Your 60minute chart that is right above mervyn's post.

???

They are talking about the ES Daily.

 

[Overnight]

Your 60minute chart that is right above mervyn's post.

???

I think they mean schizo's daily chart one page back.

https://www.elitetrader.com/et/threads/es-journal-2021-2022.353736/page-826#post-5684726