ES Journal - 2019/2020

Discussion in 'Journals' started by Buy1Sell2, Dec 19, 2018.

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  1. NQurious

    NQurious

    The easy money has always been to assume that "the reversal" is a pullback.
     
    #2541     Mar 18, 2019
  2. speedo

    speedo

    :thumbsup:
     
    #2542     Mar 18, 2019
  3. SPYgrain

    SPYgrain

    how do you know it's not a reversal?
     
    #2543     Mar 18, 2019
  4. NQurious

    NQurious

    You don't ... but if you define an attempt to reverse, and then track such attempts, you'd find most of them fail to follow through. The odds favor the reversal attempt is simply a pullback and that the prior trend will continue ... until it doesn't. That's how you know it's a reversal ;)
     
    #2544     Mar 18, 2019
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  5. SPYgrain

    SPYgrain

    yes understood - it also failed to break up ..
     
    #2545     Mar 18, 2019
  6. speedo

    speedo

    ....so far and it might not but anyone who thinks they "know" what price will do next is either Nostradamus or is headed for an ass kicking.
     
    #2546     Mar 18, 2019
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  7. SPYgrain

    SPYgrain

    ahhh, ageeed!
     
    #2547     Mar 18, 2019
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  8. SPYgrain

    SPYgrain

    important pivot (battle) area nonetheless
     
    #2548     Mar 18, 2019
  9. speedo

    speedo

    Updated
    upload_2019-3-18_14-52-29.png
     
    #2549     Mar 18, 2019
    NQurious likes this.
  10. Excellent gap fill at @Buy1Sell2 's non-existent gap today. :)

    Not trading today and just taking a brief look now, but as long as we stay below 40 for the rest of the session and don't make new highs, odds favour a close below 30 today.

    What this means in practice is that I would take the next good short signal if and when it comes for a ride to 30 or lower.
     
    #2550     Mar 18, 2019
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