ES Journal - 2017/2018

Interesting and I am in agreement other than I don't believe we will trade under 2635 today or tomorrow.

 

60 can be an excellent low risk short entry. Use a tight stop, since we might go higher.

 

Unlikely that we would trade below 2650 the rest of today.

 

Everything set up for gains from the long side over the short/swing term.

 

--Underway--

 

Actually, my data still strongly suggest we trade lower today and at least dip below 2657,00 by EOD.

There's a very small chance this can become an up day (making new highs from here). But odds favour going down still. Let's see what happens.

EDIT: No short signals on the charts at this point though...

 

could see 2680 area soon if it doesn't stall around this level I think, which will take my stop. Then i'll have to see whether i'm looking for a new short or rethink things.
This trade did offer me like +10 though which I didn't take. Was looking for a little more! Some good entries recently, but exits haven't been great

 

Generally, there's a 13 % chance of making new highs at this point. Could be one of those days. A slightly uncommon pattern at this point, as far as I can tell...

 

Potential targets above:

2681,50
2692,50 (gap fill)

2673,50 (roughly current high) is 50 % gap fill from last Monday.

 

I have more faith in Madoff's accountant than this guy's back of the envelope nonsense.