ES Journal - 2023/2024

NQ not that far from the full gap fill. Only 111 points. Makes you wonder...

A bit more for ES. 50 points from the current HOD.

It's possible, but would be a monster move at 3 % and a 155 point range.

Then again, we sold off 10 % and yesterday was down 4 %.

It's possible...
 
Picaso said:
Now that we know what @theapprentice has for breakfast, you need to share where you got your magic crystal ball :D

(Awesome trading today, congrats)
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I "knew" today would test yesterday's close and was honestly expecting more. When the market found a bid on the Open after pretty much filling the gap, I "knew" the squeeze was on for at least a push above yesterday's high.

At that point, I didn't "know" if it would fail or not, so it's just a matter of following the market at that point and expecting a good squeeze after yesterday's sell seeing that the selling pressure eased off.

5325 is just a nice round number and happens to be around 2 % which doesn't seem like a big ask after yesterday's monster sell-off and 10 % down in total.

I'm only trading 15 micros here, so I guess if I was extremely confident I would possibly have taken my chances on swinging a larger position, but I took a 15K loss on Friday due to excessive size in high volatility, so I didn't feel ready yet.

I now see the possibillity of the full gap close on ES, so I'm just going to trail along and see if I get 'lucky'. :)

upload_2024-8-6_19-41-35.png
 
NQ is set to fill the gap from Friday's close. It's literally a sneeze away in this market.

If NQ goes beyond the sneezing point - ES may very well see the full gap fill, too. In absence of sellers, bears will continue getting rekt today.

We're now at a spot where they may show up, but I'm not seeing them yet.
 
Laissez Faire said:
I didn't say anything about not buying it, buddy. The point I was getting at was that if it was a bargain at 5 % down, surely you must have thought it to be a bargain at 3 % down and maybe 4 % down, too?

That's effectively the difference between having a wildly profitable trade and blowing up your account.



Did you trade during 2020? There were multiple limit down days exceeding 10 %.

I suggest you're the one who actually need to look at what you're doing and yes, you should be scared, because you put forth ideas, views and information that can be very dangerous both for yourself and others who might be reading. It's disinformation.
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There are technically levels you look for and how the candles form is a big part. Doesn't matter if it's down X percent.

I'm done posting ideas here. I can't be bothered with all this nonsense here. Waste of energy. Yeah of course it's recovering today. It's never smooth, but that's the market. It loves to fade and fake fade, pump and sometimes dump.
 
v-shape-0DTE said:
There are technically levels you look for and how the candles form is a big part. Doesn't matter if it's down X percent.

I'm done posting ideas here. I can't be bothered with all this nonsense here. Waste of energy. Yeah of course it's recovering today. It's never smooth, but that's the market. It loves to fade and fake fade, pump and sometimes dump.
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Grow a pair and stick around. You're one of the good guys and I'm sure many here (including me) are fond of you. Even @poopy. :)

But this is a tough game and we should handle being challenged when we are wrong and say stuff that is factually incorrect.

Hope you crushed it today. From the look of the NQ candle it certainly looks like it.
 
Laissez Faire said:
Grow a pair and stick around. You're one of the good guys and I'm sure many here (including me) are fond of you. Even @poopy. :)

But this is a tough game and we should handle being challenged when we are wrong and say stuff that is factually incorrect.

Hope you crushed it today. From the look of the NQ candle it certainly looks like it.
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I'll post in the other threads, in the trading discussion, but I'm done with this ES thread.
 
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