ES Journal - 2021/2022

schizo said:
We're indeed trading near the high as I write. I think your "forecast" is pretty good. Maybe it's the timing that's slightly off. Get that under control and you will be printing money in no time. :)
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Good forecast. Poor trading. :)

In trading leveraged instruments timing is everything. I was too early and too large.

Got the 3820 tag. I'm wondering if there can be enough juice left for 3830 by the Close? Probably too late.

NQ's been a bit of a laggard this session not even taking out the pre-market high.
 
tiddlywinks said:
Quick analysis comment...

above 3820, there are a few big air pockets up to 60.
We are in the time of day where volume can accommodate.
Just saying. And pigs can get slaughtered too.

Regardless, nice trade schizo!
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RTH...
On a 3 minute chart, there was only breach of 3820, but no bar close.
Volume stayed subdued on the up and the drift down.

Air pockets live above.

Trade On!
 
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Does 3820 hold any special significance?

On the daily chart - this looks like a fairly successful BO of the 3800 range. Will be watching for continuation tomorrow.

If we assume a high % reading for the week ahead ranging from 3 - 5 % that projects to

3876 - 3951 for this week's high.

If this really get legs maybe we can see the 4K level. That's pushing it in terms of what's normal, but we had a + 6 % high reading a few weeks back. So, it can happen.

I think it's a good thing we took care of Friday's gap today. Let's see where she goes... :)

upload_2022-10-24_22-20-51.png
 
Overnight and/or tomorrow's RTH I expect, minimum, a pullback based on trading into prior reversal top 1st week of October as well prior to that a wide range red candle Sept 21st. Also yet another Tom DeMark study TD Differential (2 back-to-back up close bars, 2nd close bar has to have less buying pressure than 1st close bar - defined as TrueHigh-Close) that I use is signaling as I said already a minimum pullback, maybe more:-
! ES TD Diff.png
 
Hit some ST resistance, ST overbought and breadth wasn't great, even on the S&P 500, for a 1%+ day. Should learn a bit more about the market and how it responds to those conditions.
 
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