ES Journal - 2017/2018

Discussion in 'Journals' started by Buy1Sell2, Dec 23, 2016.

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  1. Buy1Sell2

    Buy1Sell2

    The two in your picture are definitely gaps.
     
    #3161     Mar 1, 2018
    volente_00 likes this.
  2. Zodiac4u

    Zodiac4u

    Retraces of 38% or less are very bullish when they stand alone but with us revisiting this area again, I'm wondering if the daily is setting the ground work for a possible head-and-shoulders formation. Either way it is Bullish but just how much?
     
    #3162     Mar 1, 2018
    Buy1Sell2 likes this.
  3. Pekelo

    Pekelo

    Well, thank you for acknowledging facts.

    Anyhow, when such a large and consecutive gaps are left behind, they act as a huge magnet for the price. Specially because it happened after a run up from 2520, so it wasn't like a break out gap after a longer consolidation. (like the one in Sept.)<<<price was in a 70 points range for 2-3 months before that.
     
    #3163     Mar 1, 2018
    Buy1Sell2 likes this.
  4. Buy1Sell2

    Buy1Sell2

    Let's do it numerically from the yahoo chart you linked to before:

    2/22 Low of day 2697.77 High of day 2731.26
    2/23 Low of day 2713.74 High of day 2747.76


    Thus the two days overlapped in pricing from 2713.74 to 2731.26. ---The opening on 2/23 was 2715.80 which was inside the pricing of the previous day so there is no gap.--In fact we pulled back a couple of points off the open on 2/23 putting the overlap further into the pricing of 2/22
     
    Last edited: Mar 1, 2018
    #3164     Mar 1, 2018
  5. Buy1Sell2

    Buy1Sell2

    The gaps you show in your picture do not have overlaps with the previous day's pricing, thus they are gaps.
     
    #3165     Mar 1, 2018
    volente_00 likes this.
  6. Buy1Sell2

    Buy1Sell2

    We are struggling here right where I thought we would. --Around 2720. --Cash charting not ready just yet for upmove.
     
    #3166     Mar 1, 2018
  7. Buy1Sell2

    Buy1Sell2

    If we get down to 2697---I will begin looking at shorting short term absent an obvious signal before that.
     
    #3167     Mar 1, 2018
  8. Buy1Sell2

    Buy1Sell2

    The question I think is when. I am staying long in my swing trade for now awaiting resolution.
     
    #3168     Mar 1, 2018
  9. Buy1Sell2

    Buy1Sell2

    Well, here we are-----let's see what sets up---- or doesn't here.
     
    #3169     Mar 1, 2018
  10. Zodiac4u

    Zodiac4u

    There is a chance we can still revisit or come close to 82 and do a double tap and reverse, But you know how Head-and-Shoulders work, they can lean?
     
    #3170     Mar 1, 2018
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