ES Journal - 2023/2024
- Thread starter Buy1Sell2
- Start date
Lots of lines to choose from, though. Just by coincidence price may bounce off one.
Simply put: How would you know to buy around the yellow one and not the next red one below?
If the answer is that price slowed down there and put in higher low. Well, wouldn't that be the case even if there was no line drawn there...?
Right now, we're at your blue line. So, are you buying right now? If not, why not?
23.6% blue
38.2% red
50% yellow
61.8% red
76.4% blue
First it helps to draw them the right direction. Done automatically in TradeStation.
I don't use Fibs in isolation. For one thing I look for a reversal or confirmation bar and to enter with, not against the immediate trend. Few other things.
38.2% red
50% yellow
61.8% red
76.4% blue
First it helps to draw them the right direction. Done automatically in TradeStation.
I don't use Fibs in isolation. For one thing I look for a reversal or confirmation bar and to enter with, not against the immediate trend. Few other things.
Stopped out this one for one point profit on a total of 3 MES contracts after adding. Obviously, now I regret not giving it a bit more room, but I was thinking we might pull back all the way to Friday's Close on a pullback. It's not impossible we have the week low already.
Made a few bucks day trading big brother ES, but I'm just not sure how high we'll go today, so I'm counting my piker profits and calling it a day.
Technically, I don't see anything wrong with 4K as soon as today, but it may be too early today.
Good luck all.