if you look at the intraday action over the last few weeks, early day fade accompanied by late day rally ~2h before close has been a pretty consistent. The dips keep getting bought. Until that changes, it's just one more reason to stay bullish.
ES Journal - 2023/2024
- Thread starter Buy1Sell2
- Start date
trying L here at 4178
Range bound...I see some similarities to yesterday so far.
I'd say we see some range bound action here before starting a move higher or lower a bit later in the session.
Like yesterday, I see some thick support below this area (~ 60-65) with repeated failures to break lower so far, so I'm reluctant to short this here.
No edge from my statistical model either today at this point in time, but leaning slightly long without expecting too much upside.
I'd say we see some range bound action here before starting a move higher or lower a bit later in the session.
Like yesterday, I see some thick support below this area (~ 60-65) with repeated failures to break lower so far, so I'm reluctant to short this here.
No edge from my statistical model either today at this point in time, but leaning slightly long without expecting too much upside.
Re not expecting too much upside, surely this is unquantifiable due to not knowing when whales’ stock buy programs kick in.
Using that logic nothing is quantifiable as at any given time a huge order could come in.
I'm not saying we can't see a larger move today, though. I'm just saying it appears less likely from my perspective knowing what I know. If we can start moving above 80 that would excite me.
Using simple reasoning I imagine that if this market was really, really bullish we wouldn't have had this much of a drop this morning. Then again, we're in an area were some bigger players might want to hedge their positions, so who knows.
In my humble opinion of course.
Bitch boy, Noah butt hurt, because he sends me an ass kissing private message, and I refused to help you… now you complain because you won’t get live calls from me?
I’ve made more live calls here than you have posts…. over the last 19 years!
So, are you looking at a bigger move for today, @Master Pu?
FWIW, my view is that the market is predictable, but certainly not at all times. At the end of the day it's only probabilities, though, so that's why one needs to cut losses. Both yesterday and today's afternoon session are days where I personally don't have much to lean on as some of my biases are already exploited and the market already made a bigger move.
So, I become a pure chart reader looking for failure or confirmation around levels and also a bit of common sense.
Right now, we're oscillating around yesterday's close/high. A potential failure zone. If we can start pushing above this and preferrably without a deep pullback I would say it's shaping up fairly bullish for the rest of the day.
Too early to tell, but the market does appear to want to go higher.
FWIW, my view is that the market is predictable, but certainly not at all times. At the end of the day it's only probabilities, though, so that's why one needs to cut losses. Both yesterday and today's afternoon session are days where I personally don't have much to lean on as some of my biases are already exploited and the market already made a bigger move.
So, I become a pure chart reader looking for failure or confirmation around levels and also a bit of common sense.
Right now, we're oscillating around yesterday's close/high. A potential failure zone. If we can start pushing above this and preferrably without a deep pullback I would say it's shaping up fairly bullish for the rest of the day.
Too early to tell, but the market does appear to want to go higher.
I don’t usually daytrade, so for me this expectation would be irrelevant, I am more interested in being right about which levels attract more interest. Micro timing moves is not my virtue.
Reversed off it like clockwork.
Pullback or reversal? That's the tricky part. Weak reaction for now, so let's see if we can push through on the next attempt.