ES Journal - 2021/2022

schizo said:
I followed Elliott Wave in the beginning of my trading career but soon gave up due to its subjectiveness. Anyway, been adding to my existing short all day. Hopefully, this market doesn't surprise me (again) with it's face ripper :confused:
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A little late to mention this now, but ES has been holding up better than NQ for a while now. Did you ever consider shorting NQ as well or instead?

NQ often taking out it's relative lows sometimes when ES isn't even close.
 
Concinnity said:
A little late to mention this now, but ES has been holding up better than NQ for a while now. Did you ever consider shorting NQ as well or instead?

NQ often taking out it's relative lows sometimes when ES isn't even close.
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I have in the past, not so much these days. For some reason, ES gives me a better vibe than NQ. :)
 
Looks like the face ripper lost momentum once again.

Not the easiest conditions to navigate at the moment. Probably best to not get overconfident both ways.

I find it a bit funny that one guy who’s underwater on a long position on these boards seems to be quite bearish… :)
 
FriOct 28 8:30am
.................................... Actual Forecast Previous

Core PCE Price Index m/m 0.5% 0.5% 0.5%

Employment Cost Index q/q 1.2% 1.2% 1.3%
Personal Income m/m........ 0.4% 0.4% 0.4%
Personal Spending m/m..... 0.6% 0.4% 0.6%

Came in as expected yet indexes went all crazy for two minutes. o_O
 
Concinnity said:
Yeah, macro bad everyone knows that and I've been using that to my advantage for a while, but since weekly regained I am just not willing to lean into that heavily at the moment. Just a personal choice.

ES Daily support 3777 got tested which is not uncommon, we did go a little below, but we candle closed above it. If we start trading or candle closing below 3777, than I'll be more bearish, until than I am just going to take intra-day trades as they come based on PA, structure and R/R and have no strong bear bias.

Besides with the bigger charts and picture being so bearish, this is exactly how the market would have to trade to move higher. Get weak longs outs, shorts in and everyone looking down. Very much like those days that just keep grinding lower and lower with new lows for hours and than all the sudden you get a huge short rally from all the imbalance. If this is all the upside a weekly regain is going to produce, than we are most likely going to absolutely completely shit the bed with another min 15% down on ES by the time it's all said and done. I totally get that.
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Glad I followed TA, no reason to get overly bearish until we trade below 3777 intra-day and/or candle close below it.
 
Concinnity said:
Glad I followed TA, no reason to get overly bearish until we trade below 3777 intra-day and/or candle close below it.
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In between that "TA" - there was a f**k ton of movement, though.

No need to get overly anything in this environment, IMO. This is not the bull market of the last 10 years, but a fairly volatile and nervous market which turns on a dime making fools of both bulls and bears.
 
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