ES Journal - 2019/2020

try again
L 47
stop at 41

 

Its a trading range days. up and down all day without reliable PA. Do not search for trends in the first or second phase of the day

 

Inside Day so far. And a 23,25 point range is way below the recent average.

Something's gotta give, right?

 

Oh yeah forgot, Inside day is what most traders call it.

 

They do happen once in a while. Outside days too.

But usually not.

 

Trading range day is as good as inside day. I usually wait for the day to be over to call it an inside day as it could exceed the high or low of the prior day and still be a trading range day, though no longer technically an inside day. I "trading range" to describe current market activity.

 

Short 50.50. Trade based on the premise that we are range bound until Powell and Mnchin's testimonies are done. So, I'm not necessarily bearish

edit: Stop: 57.50

 

you can predict them when we open at important levels. We opened right above the 200 days EMA of SPY (293.6) (if we are below its technically a bear market so its very important to bulls and bears) and below yesterdays close, few points from the weekly and monthly high. and then there is also the magical numbers (50ish, 25ish). Perfect setup to go sideways all day.

 

2pm Wed FOMC Meeting Minutes - might also be a factor

 

Better to wait for the FBO - Failed Break Out - its a better trap pattern