ES Journal - 2023/2024

[Laissez Faire]

What's the trading schedule for Monday? Is the Globex even open tonight?

Check out CME's website.

Only degenerate gamblers trade tomorrow anyway...

What the hell is up with you Americans and holidays by the way? Seems like there's a holiday every week. LOL.

Why is yours and mine so different?

Interesting.

I use the trading hours template 24 x 7, but if I change to CME US Index Futures ETH I think we're in agreement.

It seems like I have one more bar with 24 x 7. I think I checked it a while back on 60 minute charts and there was more data available with 24 x 7 than with the other session template, so I just went with it.

 

[Laissez Faire]

We've already made 3 touches in the past. This time (the 4th touch) has a HIGHER LOW, which we've not had (not even once in 2022). So whatcha think?

No idea. I'm not a good chartist, but once in a while (like last week) the chart speaks to me.

Maybe a false breakout...?

 

[schizo]

What the hell is up with you Americans and holidays by the way? Seems like there's a holiday every week. LOL.

We're all openly proud degenerates here.

 

[Laissez Faire]

Intra day trend flip flops no doubt. But overall it is down and has been a year so probabilities say most days thinking down is ... the way to think.

I meant to reply to this comment earlier, but got sidetracked.

While it's true that last year was a down year in actuality 51 % of the trading days had the Main Move Up.

If we look at the 10 largest ranges for 2023, 6 out of 10 had the Main Move Up.

In fact, the 3 largest intraday ranges were all days with the Main Move being Up.

What this mean for the intraday trader is that even during a bear market or down trending market you'd still want to trade the long side about 50 % of the time...

PS: This number generally hovers around 50 %, but some years it gets closer to 60 %.

 

[NoahA]

We've already made 3 touches in the past. This time (the 4th touch) has a HIGHER LOW, which we've not had (not even once in 2022). So whatcha think?

I love this type of analysis... Thanks for sharing

 

[Cessna06P]

short 4013.75

 

[newbie463]

I was expecting a significant gap up, considering the crypto run this weekend. What gives?

 

[Cessna06P]

And out -2

 

[Buy1Sell2]

While it's true that last year was a down year in actuality 51 % of the trading days had the Main Move Up.

If we look at the 10 largest ranges for 2023, 6 out of 10 had the Main Move Up.

In fact, the 3 largest intraday ranges were all days with the Main Move being Up.

I consider SP to be a long-only market.

 

[schizo]

I consider SP to be a long-only market.

We might get a slight pullback for a day or two as we come up to the TRENDLINE (yeah, that trendline). But after that, methinks we should be smooth sailing after that.