ES Journal - 2023/2024

[Laissez Faire]

Sometimes the obvious eludes me lol... , what's POC mean again?

I'm plotting Volume Profile on some of my charts these days to see if it can be of value.

POC = point of control = the level with the highest volume transacted.

Other peaks on the profile could be considered high volume nodes.

Areas on the profile with little volume could be considered pockets or small gaps.

Generally, then, one would expect high volume nodes/areas to take more time to trade through and pockets where price can pop/drop through more easily. At least that's the theory as far as I understand it.

Three levels were clustered together today with the POC from last week, last week's mid point and also prior weekly highs.

Usually, unless it's a trend day, that type of confluence can be a reversal area.

 

[Buy1Sell2]

So the government will need to resort to screwing the elderlies from their social security benefits to pay off their debt. Great! I just love this country more than ever, now!

No. They would need to resort to cutting discretionary spending. Social Security Benefits are safe.

 

[spectastic]

I'm plotting Volume Profile on some of my charts these days to see if it can be of value.

POC = point of control = the level with the highest volume transacted.

Other peaks on the profile could be considered high volume nodes.

Areas on the profile with little volume could be considered pockets or small gaps.

Generally, then, one would expect high volume nodes/areas to take more time to trade through and pockets where price can pop/drop through more easily. At least that's the theory as far as I understand it.

Three levels were clustered together today with the POC from last week, last week's mid point and also prior weekly highs.

Usually, unless it's a trend day, that type of confluence can be a reversal area.

View attachment 305131

dang, I'm not paying attention. I actually bought that poc last thursday for a nice 40 pt swing. though at this point, I feel like we could be looking at a false break out scenario, with the indices nearing/inside supply areas. russell in particular looks like 6/8/22. time will tell whether we break through or reject.

powell speech might be our next 'major' catalyst. I'm not sure if the megacap earnings on thursday will be a huge market mover, since most of these earnings tend to follow the market, not the other way around.

 

[schizo]

No. They would need to resort to cutting discretionary spending. Social Security Benefits are safe.

But don't you understand??? This is America, the most safe haven in the world.

A shitstorm like the USA defaulting on its debt is not supposed to happen. Just the thought of that ever happening is itself problematic.

 

[MarkBrown]

Numbers for the next 22 hours

Long Exit Price ...............: 4081.75
Long Entry Buy Stop ....: 4060.50
Long Entry StopLoss ....: 4039.00

Short Entry StopLoss ...: 4039.50
Short Entry Sell Stop ....: 4018.00
Short Exit Price ...............: 3996.75

 

[spectastic]

Numbers for the next 22 hours

Long Exit Price ...............: 4081.75
Long Entry Buy Stop ....: 4060.50
Long Entry StopLoss ....: 4039.00

Short Entry StopLoss ...: 4039.50
Short Entry Sell Stop ....: 4018.00
Short Exit Price ...............: 3996.75

I thought you only trade a few ticks? or is this a different strategy than the one you're automating now?

 

[Laissez Faire]

Powell speech might be our next 'major' catalyst.

I would guess so, yes.

 

[MarkBrown]

I thought you only trade a few ticks? or is this a different strategy than the one you're automating now?

they are 24 hour targets that keep me aware of what is possible, like the target at 4038.50 today.

each bar is 24 hours of ES.

 

[Buy1Sell2]

But don't you understand??? This is America, the most safe haven in the world.

A shitstorm like the USA defaulting on its debt is not supposed to happen. Just the thought of that ever happening is itself problematic.

I guess I won't bring it up again after this posting.----The USA will never default on debt payments.

 

[Cessna06P]

I guess I won't bring it up again after this posting.----The USA will never default on debt payments.

Oh they will pay.....in worthless dollars. When you create money out of nothing it is not really money. The rest of the world is just beginning to figure it out, when it becomes apparent to all it will be a tsunami. See "The Death Of Money".