ES Journal - 2023/2024

Buy1Sell2 said:
The issue with this pullback is really that there was no topping pattern especially on weekly and monthly and so I have to believe that we are still in a new bull market with 4800 by year's end. Charles Payne has been talking about The Street being upset that they missed the initial rally and would like to bring things down so they can get in. According to him, The Dumb Money was amking gains and that wasn't right since The Smart Money was not on board.
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That's all very speculative.

Again, I invite you to extend your repertoire from bull market and bear market and include range bound market in your vocabulary. Because that's what this is, IMO. Yesterday, when sentiment was fairly bearish here in the journal we likely came into a range low and will start moving higher again for a bit.

And I think @Overnight who's received some salty remarks from others in this thread actually gets it.

This is a post-FED market and players are still trying to figure out what that means and what the new playbook is as it's certainly a different one than the one most people are conditioned to from this last decade.
 
chillibean said:
feel like trying a short here at 22.5 but news coming out so best to leave alone for now i think
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never did have discipline...
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chillibean said:
feel like trying a short here at 22.5 but news coming out so best to leave alone for now i think
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Is feel something you generally use for your trades? You seem to have pretty good entries most of the time.

I was long and just stopped out B/E. Still leaning long, but no way I'm going to enter anything inside this mess and get chopped to pieces. Let's see where RTH opens.
 
Laissez Faire said:
Is feel something you generally use for your trades? You seem to have pretty good entries most of the time.

I was long and just stopped out B/E. Still leaning long, but no way I'm going to enter anything inside this mess and get chopped to pieces. Let's see where RTH opens.
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feel plays a role with me. I'm just a noob trying to navigate these markets best I can. Nothing fancy. No super predictive algo.
I felt like this area has been shown to be decent reistance recently.
The market has been chopping about this morning (especially the Ym which is in an ever cleaner range)
And any move much higher than my entry had me thinking that bigger players would step in for a potential bigger run up and I didn't see them doing it in globex (assumed they'd wait for RTH IF they were to ramp)
so tried the short
upload_2023-2-23_13-42-2.png
 
chillibean said:
feel plays a role with me. I'm just a noob trying to navigate these markets best I can. Nothing fancy. No super predictive algo.
I felt like this area has been shown to be decent reistance recently.
The market has been chopping about this morning (especially the Ym which is in an ever cleaner range)
And any move much higher than my entry had me thinking that bigger players would step in for a potential bigger run up and I didn't see them doing it in globex (assumed they'd wait for RTH IF they were to ramp)
so tried the short
View attachment 307107
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Good stuff. As a n00b, I'd say you're doing better than many "intermediate" players! :)
 
I want a long entry here (16) and I'm tempted to take it, but I don't want to become a bag holder here. So, waiting for the Open.

So far this year we haven't had many large gap ups on the Open. Only 5/35 exceeding 20 points.
 
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