ES Journal - 2023/2024
- Thread starter Buy1Sell2
- Start date
If there ever was a bull flag on the daily chart that was destroyed completely today and on Friday with the foreplay starting last Thursday.
I generally prefer being long as I always feel there's a bid in this market and I hate those intraday bear market rallies, but this looks like 4K to me. Statistically, the odds of this structure reversing up and printing a green daily bar by the close are not so good. More likely is new lows and this is technically a trend day down by now. We'd need a strong move higher to reverse that.
But, like I said, I'm always fearful as a short, so I'm cautious here for sure.
I generally prefer being long as I always feel there's a bid in this market and I hate those intraday bear market rallies, but this looks like 4K to me. Statistically, the odds of this structure reversing up and printing a green daily bar by the close are not so good. More likely is new lows and this is technically a trend day down by now. We'd need a strong move higher to reverse that.
But, like I said, I'm always fearful as a short, so I'm cautious here for sure.
Bull flag is still there and this action is inside that channel. A bull flag shouldn't be traded until the breakout though I wouldn't think as that is the confirm of higher pricings.If there ever was a bull flag on the daily chart that was destroyed completely today and on Friday with the foreplay starting last Thursday.
I generally prefer being long as I always feel there's a bid in this market and I hate those intraday bear market rallies, but this looks like 4K to me. Statistically, the odds of this structure reversing up and printing a green daily bar by the close are not so good. More likely is new lows and this is technically a trend day down by now. We'd need a strong move higher to reverse that.
But, like I said, I'm always fearful as a short, so I'm cautious here for sure.
I had target mark 4023, 4014 but didn't trade so far, not sure, already -1.5% today.
I can see my younger self trying to pick a bottom here. It usually didn't end well...
Agreed on the latter.
Not sure about the former. Could you show with a chart?
Here's my view.
I don't think we'll see a bid until 4K. And who knows if that'll hold.
Agreed on the latter.
Not sure about the former. Could you show with a chart?
Here's my view.
I don't think we'll see a bid until 4K. And who knows if that'll hold.
Not trying to pick a bottom. I'm not in yet for a day trade and am looking for upside momentum first.I can see my younger self trying to pick a bottom here. It usually didn't end well...
Agreed on the latter.
Not sure about the former. Could you show with a chart?
Here's my view.
I don't think we'll see a bid until 4K. And who knows if that'll hold.
View attachment 306888
100ma around 3989 is doable before fomc minutes, difficult call.