ES Journal - 2023/2024

mervyn said:
why, atr is 2.5, idk how one can make money today.
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So I'm FAR from the best trader out there, but this morning IMO was a solid downtrend.

Been in place since 2/23. Broke down thru yesterday afternoon's support at EOD, then this morning gapped up but closed on the lows on decent sized candles...

Went back to tap the 5083 area (entry short) now resistance twice this morning for shorts and had no threat to any stops (>5087) all day, on its way down to touch the 2/22 5070 area support as LOD today. My first exit was 7075 when we seemed to be consoldating at morning LOD, then 5070 for the remainder.

Any critiques to my analysis welcome
 
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JamesOptions said:
So I'm FAR from the best trader out there, but this morning IMO was a solid downtrend.

Been in place since 2/23. Broke down thru yesterday afternoon's support at EOD, then this morning gapped up but closed on the lows on decent sized candles...

Went back to tap the 5083 area now resistance twice this morning for shorts and had no threat to any stops (>5087) all day, on its way down to touch the 2/22 5070 area support as LOD today.
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it is waiting for tomorrow pce, flushing down likely.

for the reference, it trades at the first three minutes opening range.
 
schizo said:
Are we talking about a full reversal or a mere pullback within the current uptrend? I'm not convinced that we're ready for a 180 reversal just yet.
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By my eye, from the daily chart, we’re a ways away from a full on reversal.

I’d want to see a break below and retest forming resistance of 5050 for a start, and even then I’d want a break and resistance below the uptrend line I have in place from the 11/9/23 low before I would consider reversal territory.
 
Concinnity said:
Of course you're waiting for that because you guys don't really intra-day trade at a high level. You use time, account size/position size and the natural bullish bias of major US equities as your way to turn a profit.

There's nothing wrong with that and it's smart. The issue I take is how you guys pretend like you can intra-day trade at a high level and offer your advice to people that are looking to actively intra-day trade. If you guys truly wanted "to help people and share" you wouldn't do that crap. It makes no sense to do that and it's disingenuous.
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+1

Concinnity said:
I am just using continuous contract and for that it hasn't hit ATH. I am fine with however anyone else views it, charting that for long term view works well so I'll continue doing what works for me.
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Belated +1 and thanks.
I spent several days learning about and creating correct Back-adjusted (continuous) charts because of your ES ATH posts... Entertaining to most, money to others. :)
It became another tool in MY toolbelt! Thanks.
 
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