ES Journal - 2021/2022

Buy1Sell2 said:
Right now, I just think the pullback is a kneejerk reaction and will settle itself out. At the moment there hasn't been chart damage.
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Recognizing the difference between a reversal and a pullback is one of the most fundamental problems to solve in trading. It is not easy. In trading, one can however choose to get out on strong momentum peaks and re-enter at either the same price (if no pullback) or lower prices if price pulls back. Admittedly, I'm not the best myself at doing that.

By now, the long trade is a hope trade where one can only hope that the market finds a bid and reverse higher.
 
Laissez Faire said:
Recognizing the difference between a reversal and a pullback is one of the most fundamental problems to solve in trading. It is not easy. In trading, one can however choose to get out on strong momentum peaks and re-enter at either the same price (if no pullback) or lower prices if price pulls back. Admittedly, I'm not the best myself at doing that.

By now, the long trade is a hope trade where one can only hope that the market finds a bid and reverse higher.
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Weekly SPX does still just look like a bullish pull back. NQ and ES charts look bearish, but oversold on hourly and 4 hourly now. So long does make some sense to me right now.
 
Laissez Faire said:
Headed lower, though. Closing in on 200 points off the recent high. Not my idea of a pullback.
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Yeah. Looking at things now, I would be surprised if the SPX can gap close here. The futures have dropped quite a bit more than I would have expected since I made that post.
 
2yr Yield spiked overnight. Gee did The FED raise rates or something duh?
! 2 year.png
 
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