ES Journal - 2023/2024

[newbie463]

Looks like 4030 to me.

I would like to change my closing prediction from 4052 to 4032.50, now that I have more information.

 

[Laissez Faire]

Interesting. FWIW, I just stopped out of a long on a trailing stop. I was sure we'd see 30 today. And we still might.

We are however in a potential sell zone here for the big boys.

Unless we can trade quickly back above 4K, I'd say this is looking like an actual reversal and not a retrace.

 

[schizo]

I would like to ask some of you old hands a couple of questions. I usually don't trade big market moving events such as CPI but this morning I considered placing an order to go short at 4000 right before CPI. The questions are if I did so with a stop order how much slippage would be possible once it triggered? Or if I made it a limit order would it get filled at all? When things move really fast it is intimidating. BTW I cannot remember seeing a gap between 1 minute candles like we saw this morning. Thanks for your comments.

Slippage = if market order, likely large
Limit order = likely not get filled

 

[schizo]

I would like to change my closing prediction from 4052 to 4032.50, now that I have more information.

I think the HOD (overnight high) is already in. We'll just chop around until the close. As previously stated, this will be the new norm for this year IMO.

 

[schizo]

Short 17.50

 

[chillibean]

trying risky half size short here at 08.5
stp at 17.5

-9

 

[formikatrading]

I have to atone for my bad call in September which @Laissez Faire has pointed out numerous times. I still like you @Laissez Faire! Hopefully between this and my October call, I an now entitled to limited posting privileges here.

Good call.

 

[Cessna06P]

Slippage = if market order, likely large
Limit order = likely not get filled

Thanks schizo, I suspected as much. But it sure is tempting. I am not as nimble as you and chilibean.

 

[wiesman02]

@wiesman02

Since you provided a great explanation for your successful long, I wonder if you would share what made you lose money at the open. Your explanation of your signal and attached chart were awesome, so I wonder if you don't mind sharing what you saw that made you lose money there and what trade you took (assuming it was a long since it dropped)

it was a poor trade, unforced error. Made a rash decision that it was gonna spring board up 10 handles, with nothing more than chart patterns. but since market was moving so fast and I was trading premarket, I didn’t really look at the higher time frames and go over in my head where all the heavy players were unloading. Had I did, I would have noticed the obvious rotation down and avoided the long.

 

[schizo]

Thanks schizo, I suspected as much. But it sure is tempting. I am not as nimble as you and chilibean.

Letting the dust settle down first before jumping in is not a bad idea. You won't miss anything either, as you can see from the wide gyrations that came after the CPI.