ES Journal - 2017/2018

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

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  1. nickynoes

    nickynoes

    Update to the daily chart. I believe we might retest the short term down trendline again, which would give us a lower high before going down some more. Won't add more longs until we are at the long term support TL.

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    #4341     Apr 21, 2018
  2. manonfire

    manonfire

    Pro's close markets. For the second consecutive Friday we had relentless buying into close catalyzed by a trade nearly to the previous Friday's closing range. These two closing ranges have to be viewed as strong support. If it should give way you have your direction. Wednesday's trade rejected highs inside the previously discussed Fed price action from March 22. Conditions are ripe for congestion, still a nice range to trade. A trifecta of news the first week of May should catalyze the next big move. Apple earnigns May 1, Fed announcement May 2 and employment report May 5. Apple catalyzed the last two days of selling. Until then daily earnings and end of month trade should give us a lift to low 2700's to last weeks highs.
     
    #4342     Apr 21, 2018
  3. Overnight

    Overnight

    That chart shows me that I should buckle down for another ride of volatility, another cycle of what...Let's call it 6% up or down. It is, after all, a crunchy wedge formation. Will this summer dampen the edginess the market feels with Frump in power? That Kim Jong Un is piping down seems to lead the idea of an up market, but I am still afraid to act upon it. Hmmm!
     
    #4343     Apr 21, 2018
  4. nickynoes

    nickynoes

    Its descending trend line, think what you will fundamental wise but price is going down until the tl is broken. Yes I also think it is building a wedge which often breaks down but time will tell.
     
    #4344     Apr 21, 2018
  5. Touch 5 of the triangle. Unless it becomes fake break we could get approx 300 pt move down from point of break. We not going to stay where we are much longer.
     
    #4345     Apr 23, 2018
  6. Buy1Sell2

    Buy1Sell2

    Definitely staying long here until proven wrong. Looks long to me right now.
     
    #4346     Apr 23, 2018
  7. nickynoes

    nickynoes

    Have a feeling it's just going to consolidate a few days and then break down wednesday.
     
    #4347     Apr 23, 2018
  8. 'Feelings' can be fleeting and temporary -- and somewhat very dangerous to assume such.

    It's much better to be patient, and calm, and observant and reflective.
    Have initial directional conviction, with the supporting loose logic and rationale ...but still be patient and open-minded and apprehensive about placing any quick bets.

    The Trend is always your Friend, till it's not...and that's The Key. And million dollar question...when has that inflection point been truly reached and realized o_O, :confused:
     
    Last edited: Apr 23, 2018
    #4348     Apr 23, 2018
    Jzwu2017 likes this.
  9. manonfire

    manonfire

    Buying Friday's closing range here.
     
    #4349     Apr 23, 2018
  10. manonfire

    manonfire


    There is a fucking psychology page for this shit, stop wasting internet.
     
    #4350     Apr 23, 2018
    Spooz Top 2 and KevinD like this.
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