Still printing higher lows on the 5-minute chart, but price did slow down a little here at the daily highs and we printed lower highs as well. Hmmm 
ES Journal Archive (2011)
- Thread starter Buy1Sell2
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NQ looks "heavy".
Maybe it wants to fill that gap today after all.
Maybe it wants to fill that gap today after all.
had the crap beaten out of me this week. About 80% of my trades hit my stop. Really lost faith in TA this week. Im certain that the consistently profitable traders are looking at something else other than charts.
Might need to revert back to my ''no stop'' trading to build my account back up!
Good luck today.
I'm done for the week
Might need to revert back to my ''no stop'' trading to build my account back up!
Good luck today.
I'm done for the week
i hear ya on this.
just started trading ES a month ago. its amazing the back and forth between prices. and just when you think you've got confirmation, and you sell/buy the market, it goes against you.
really seems to be a RTM type instrument.
just trying to pick my levels more patiently and not scalp as much now.
Technical analysis still works, but the market conditions are ever changing. You may have thrived in the recent market conditions with many big winners on the short side and lots of momentum, right?
Then you have a day like Monday, slowly drifting higher on low volume. And even with a 20 point range, that seems small. Completely different from what we`ve seen lately, right? If you tried to pick a top that day more than once, I`m sure you`re not the only one, hint hint
And when you start thinking you need to start looking only for a long on the subsequent days, the market is suddenly back in crash mode?
I`ve been going over my charts after hours and believe me, technical analysis still works. It`s just so damn hard to pick up on it in real time if we decide to project our views onto the market instead of seeing what is actually happening, moment from moment.
And that`s why I am not trading today
You`ll come back stronger, but DO use a stop unless you want to blow up that is.
NQ actually printed a 3 tick higher low and ES tested the exact low to the tick.
Seems like a very sleepy market today. Perhaps that will prevent any major moves from happening either way?
Seems like a very sleepy market today. Perhaps that will prevent any major moves from happening either way?
30-point range overnight... Two 10-point moves in about one hour...
Maybe you've been spoiled by the recent volatility, LF
If you find this market sleepy, try placing a few trades... better than black coffee
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Also keep in mind that Monday is a US holiday, so after lunch we should see some positioning for the long weekend.
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