ES Journal - 2023/2024

chillibean said:
what a crash!
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Yup, I was going to post yesterday I was expecting a large drawdown today but decided not to.
My new algo is still on trainer wheels, ie it takes a while to road test, so I decided not to be too bold with another call.
I'm pleased with the result of how it's working.

Edit: I believe US daylight saving this weekend, your market closes 4am instead of 5am for me.
 
themickey said:
....3900 still my target, err, just a bit higher now.
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Price has Exactly hit the bottom of my range, to the point, should be up from here, not going lower.
If it goes lower, we are in deeper trouble.
One other thing it could do, break support momentarily just to rattle the cage one more time to scare.
The upward move from here will be tentative, ie we are not out of woods just yet.
 
ES broke below the recent low as well as below the two trendlines (ironically they both intersected today). As of today, bull market (if that means anything) has been nullified IMO.

Downside target: 3800

upload_2023-3-9_13-12-2.png
 
themickey said:
Price has Exactly hit the bottom of my range, to the point, should be up from here, not going lower.
If it goes lower, we are in deeper trouble.
One other thing it could do, break support momentarily just to rattle the cage one more time to scare.
The upward move from here will be tentative, ie we are not out of woods just yet.
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Mick, if there's still time, go return that crystal ball for a refund. It's obviously not working. :)
 
Buy1Sell2 said:
Unlikely that we will see a major downtrend here as we have been above the 200 day moving average for several weeks now. ---Staying long and looking for higher pricings. I'll make some long day trades on fresh momentum.
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From the outside it could appear like you took on a view, i.e., long/bull market, and now you’re defending that view in face of evidence to the contrary.

Am I wrong? :)
 
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