ES Journal - 2017/2018

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

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  1. mbondy

    mbondy

    Why take the risk at all? A market that's making new intraday lows is not a market to get long. Once a bottom has been established and tested, then yeah okay, there's someone defending it with a bid so getting long is logical and you have a point of reference to bail.
    In any other case, you're just picking bottoms and your stop is just fuel for the next run down.
     
    #7011     Oct 26, 2018
  2. speedo

    speedo

    PA has been fantastic, my only problem is getting in some of them where I want to be given the volatility.
     
    #7012     Oct 26, 2018
  3. FriskyCat

    FriskyCat

    Position bias = constant, relentless distribution is a "basing process" and "pullback"
     
    #7013     Oct 26, 2018
  4. speedo

    speedo

    Yep, clearly institutional distribution...how long it last is anybody's guess but just follow the bouncing ball.
     
    #7014     Oct 26, 2018
  5. FriskyCat

    FriskyCat

    Just about everyone is conditioned for "v" reversals after nearly a decade of managed declines (not to get too off the deep end here), but this Fed is a different animal and unlike Yellen's Fed, the parade of jawboning members is noticeably absent.
     
    #7015     Oct 26, 2018
  6. Buy1Sell2

    Buy1Sell2

    Basing still in process here. Long is the way to be here at least short term --and very long term which is what I am on. This move should carry us back to the 2750 area in the short term. Staying long here and intraday trading long with tight stops.
     
    #7016     Oct 26, 2018
  7. mbondy

    mbondy

    Showing signs of strength here.
     
    #7017     Oct 26, 2018
  8. speedo

    speedo

    [​IMG]
     
    #7018     Oct 26, 2018
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  9. 3333 in 6 months... yep. I love being a bear .. but what I have seen indicates higher levels to come as we enter next phase of economy .. similar to ‘87
     
    #7019     Oct 26, 2018
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  10. tiddlywinks

    tiddlywinks


    Agree on 2750 or so. In this move, only a maybe.

    But here's the thing... it's conventional wisdom, no genius necessary!
    Technically, using a 2% closing-basis rule, significant damage has been done on the daily and the weekly. It is real. Previous "support" for daily and weekly was between 2710 and 2750. You can determine the exact levels respectively that you use.

    All we are talking about is support becomes resistance... 100 points plus/minus on the upside is nothing but a test. It is possible santa clause consolidates in the zone. Global IRs and global currencies hold the answers imo.
     
    #7020     Oct 26, 2018
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