ES Journal - 2017/2018

Based on this DOW move, expecting ES to follow suit fairly soon - changing profit target a little higher to 2408 and am off out to visit a friend for a bit. Back later. Good luck

 

ES for me not worth trading. If big banks and hedgies have ceased trading activities, then there's nobody to jump on board with. Buy in 401k and ride it on up. Daytrading the futures markets is slowly becoming a dying business at these vix levels.

 

Algorithms are feedback looping the data back onto themselves. In essence its creating a bottleneck in decision making.

 

Range chop set in a little early on this Fed day.

 

Close active trade.

2397.50 (+.50) (scratch) (removing position before FOMC)

FOMC statement will be hawkish.

 

Limit Sell 2400 (not hit yet) SL 2405 TP close of session

 

Think we are setting up for new highs this afternoon . 2405+

 

You have probability on your side, plus V chart pattern post consolidation, the high end of consolidation breaks and price drops back down. That's the repeating chart pattern.

Problem is no one wants to short since most burned. It molds behavior patterns. And no one wants to buy the highs, so we end up being stuck from lack of fuel.

 

yep

 

Also rumor is Comey is going to give damaging spin to his May 3rd remarks. So liquidity on FOMC may be used to exit leveraged positions.