ES Journal - 2023/2024

tiddlywinks said:
WARNING: the attached chart was annotated in a matter of minutes, in hindsight.


Your "bear flag" is merely lateral movement. IMO, you are seeing the face of Jesus in the clouds.
An argument can also be made that we are in a up channel since mid-October lows.

For the time being, Im looking at 3722 and an extreme 3630 on the downside and 4075 as an upside.

STAGFLATION will be the word of the year!!
High/Increasing IR with little to no growth. The Fed's nightmare! But no market "crash": Only great 2-way trading opportunities.

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It's a classic bear flag pausing the downtrend. ---Doesn't necessarily mean that the next move is down of course.
 
schizo said:
But doesn't it look way too obvious? I would say this is a big TRAP. Although nothing is off the table, I'm more inclined to say we'll be heading north tomorrow, and by a big margin. Be careful out there if you're betting your farm.
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a responsible trader never bets the farm on the roulette wheel… north/ south… black/ red!

just a hunch, Schitz, that they may want to “ steal the move “ as I call it, to alleviate selling pressure during RTH…

I’ve lasted 32 yrs in this racket by being a counter puncher & by NOT predicting … Going for the KO only when odds are stacked in my favor while positioned properly along with multiple confirming indicators!

That said, tomorrow EOD weekly bar will be very important in the big pic &’will reveal a clue as to where we’re headed…. Good Luck Pisan! :cool:
 
Spooz Top 2 said:
a responsible trader never bets the farm on the roulette wheel… north/ south… black/ red!

just a hunch, Schitz, that they may want to “ steal the move “ as I call it, to alleviate selling pressure during RTH…

I’ve lasted 32 yrs in this racket by being a counter puncher & by NOT predicting … Going for the KO only when odds are stacked in my favor while positioned properly along with multiple confirming indicators!

That said, tomorrow EOD weekly bar will be very important in the big pic &’will reveal a clue as to where we’re headed…. Good Luck Pisan! :cool:
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Currently flat trading mostly
Short side intraday in this 120 pt range…
I’m actually hoping for a spike North on a false breakout bull trap… that would be my ideal scenario…. Off of this Daily bear flag.
 
schizo said:
I don't get your point. By definition, isn't that what drives the market lower, ie. there are no more longs?
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just another possibility, I might be wrong, if that is the case, I will admit it and learn from it
 
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