ES Journal Archive (2011)
- Thread starter Buy1Sell2
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I say 'risky' because i think the ES is always more likely to go up than down in general.
Still, trying to take the signals without letting any bias affect my trade triggers at the moment.
edit: Just read that the Fed just bought another 2.9 billion in treasuries, lol!
well well well so much for that perfect DOJI at the top of a right shoulder. The setup was there, the central bank and there QE is out of the way... supposedly. So what happened? The economic numbers today sucked, the day started out in favor of the pattern playing out but by days end the bulls had once again on little to no volume lifted the markets.
I would say if the Jobs data is decent bears will yet again be defeated on a perfect bearish setup.
I would say if the Jobs data is decent bears will yet again be defeated on a perfect bearish setup.
hehe, risky indeed. Always feel safer buying.
Anyway, stopped -3
Risk is inherent in trading, but there is no difference in risk between buying or selling as long as there is a good set-up and a good entry.
I will however say that your "risk" increases substantially if you start leaning too heavily towards one side, unless you`re employing a specific strategy for a specific market condition. One example would be to buy the dips in the uptrend we`ve just witnessed. We did however witness a period where that stopped working as well. It works until it don`t.
For day trading purposes though, one should be able to both buy and sell as the opportunity arises, independent of the uptrend on higher time frames.
the longer we chop sideways up here, the more distribution, the high the chance that we fail at 40-50 area
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