I posted this the 18th of November:
Update as of today (didn't redraw anything):
View attachment 300846
Amazing how well channels work!
Add volume and you might stumble upon confidence that withstands the test of time!
Carry On!
ES Journal - 2021/2022
- Thread starter Buy1Sell2
- Start date
Amazing how well channels work!
Add volume and you might stumble upon confidence that withstands the test of time!
Carry On!
If anything, it seems to give a good big picture view of where the market is at and where it might be going. No predictions using this.
I keep volume at the bottom of one of my charts (5-minute) and use a volume chart as my fast chart, but can't say I've made any very interesting conclusions so far. But I keep looking...
I posted this the 18th of November:
Update as of today (didn't redraw anything):
View attachment 300846
Well your trend line in the 2nd image is in a different position now because otherwise the recent touch would look like it broke through a bit too much perhaps. But I can see what you are trying to say anyway.
I'm staying short from the top there based on similar charting.
will break 4000
Your channel is 800 points wide, a little out of scope of what we do here. I stick with moving average and vwap.
Could be there's a minor difference, but I was fairly sure I didn't change anything as this is just secondary charting for me. Regardless, the big picture is still pretty much unchanged.
Not really, IMO.
Unless you're scalping for ticks (as some here may be doing) - it's useful to keep track of the big picture even as a day trader.
Of course, there are other ways to do that than the chart I posted above.
Hopefully by today or tomorrow, it would come back down to my first short entry 3985, set a profit target at 3980 to flatten everything, keeping H23 short.
4K dip buyers showed up.
Momentum is still down, so probably one more leg lower before the Close. 3990 or more.
Maybe scratch that if we put in a higher low here.
Momentum is still down, so probably one more leg lower before the Close. 3990 or more.
Maybe scratch that if we put in a higher low here.
Almost retraced the entire FOMC pump from last week by now.
I wonder how many thought that was the start of a multi-week rally and how they are positioned.
If 3990 doesn't hold, well...what's another 1 % drop.
I wonder how many thought that was the start of a multi-week rally and how they are positioned.
If 3990 doesn't hold, well...what's another 1 % drop.