Were you trading at the time? Coincidence or not, it was a scarry time.
ES Journal - 2021/2022
- Thread starter Buy1Sell2
- Start date
I was, and I was really shite haha
ES did hit weekly resistance and only briefly traded above, but wasn't really expecting or prepared for a short, so not in anything. It's not really down that much points wise, but the gap + action afterwards doesn't look great. Have Meta for another catalyst tomorrow though. Don't really see much right now, will see if overnight changes anything.
Kind of scary imo if this is all the upside the weekly regain is going to provide.
Kind of scary imo if this is all the upside the weekly regain is going to provide.
We've retraced nearly 50% from the low and that's considered the standard practice. Anything more than that, you're asking for trouble.
RTY also never broke it's weekly relative lows, when ES and NQ did and also recall it holding up better some days relatively speaking. So, have been noticing that about RTY, it just didn't seem to really matter much or help my analysis much. Simply because even thought it held up better it didn't stop NQ and ES from dumping still below it's relative weeky lows.
Basically have to survive short and mid term buyers exiting, plus shorts adding in vs Long term buyers, seems like a tall order given macro trend. ES 3754 ish and NQ 11280 ish is what I have as current support as long as above that we have a chance, below that and I'll be favoring shorting only unless we regain those levels.
Not yet. Trade hasn't moved far enough in my favor yet.