ES Journal - 2023/2024

Buy1Sell2 said:
Looking at the weekly, no H and S exists. Mind you, HS and IHS are the 2 most reliable patterns in my view in trading.
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Not as clear as on the daily, but you can still make out H&S on the weekly.

upload_2023-10-17_12-4-10.png
 
schizo said:
However, at the going rate, it looks like we'll be closing red for the day. Fingers crossed.
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The prediction was basically higher prices. I don't have a strong opinion on the close, but generally, a day like today closes green. Not always, but more often than not. :)

The market seems to be 'loose' at the moment, though, so best to stay nimble, I think?
 
Laissez Faire said:
80 % of the time on 'a day like this'. Today, it was unchanged at the tick. Not too often you see that. :)
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Wait! Hold on now. I thought you said 1) what happened in the past and 2) actually trading based on 1 are completely different. :)
 
tiddlywinks said:
And it will remain an outside day...
It is impossible for an OB (outside bar) to morph into anything else.

Bar closing is good for analysis.
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My point though was that at that moment it was an outside day up. It could have very well ended up as an outside day down.
 
It remains to be seen, but the trendline is holding up pretty well as you can see on this hourly chart and the head fake we had yesterday looks like the final exhaustion.

upload_2023-10-18_0-11-41.png
 
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