ES Journal - 2023/2024

Buy1Sell2 said:
This bounce should have a bit more legs.
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So, a reversal and not just a bounce?

I want my 4006 first. :cool:

We're down 1.78 % here at the LOD. In this volatility the market can easily spike through my B/E stop by a wide margin and reverse again. It's a tough call.

I think we have a good chance at that 4K print, but I'm not confident enough to put a wide stop on it.

One could argue that there's probably a lot of stops below 4K. Makes you wonder if we'll see a run below by the close... :)
 
Laissez Faire said:
So, a reversal and not just a bounce?

I want my 4006 first. :cool:

We're down 1.78 % here at the LOD. In this volatility the market can easily spike through my B/E stop by a wide margin and reverse again. It's a tough call.

I think we have a good chance at that 4K print, but I'm not confident enough to put a wide stop on it.

One could argue that there's probably a lot of stops below 4K. Makes you wonder if we'll see a run below by the close... :)
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Plenty of time to take out your number. I'm not sure we'll get there though and if we did, I would expect a quick snap back as folks would be getting long for Wed and Thurs and this week, Fri. The market continues to be in an uptrend and I suspect that bulls will be taking over today.
 
Buy1Sell2 said:
Plenty of time to take out your number. I'm not sure we'll get there though and if we did, I would expect a quick snap back as folks would be getting long for Wed and Thurs and this week, Fri. The market continues to be in an uptrend and I suspect that bulls will be taking over today.
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That may very well be... :)

Intraday, I still view this as a retracement (which may very well take me out) in a trend day down.

I'd be very surprised if today reversed strongly and traded/closed above the Open, but I've seen stranger things. So, it's not like it can't happen. Just an improbable move, IMO.
 
A6C910EE-7419-4E40-AB66-582C1C724C7A.png

The circled area looks like a magnet and likely 200dma area
 
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