Wondering how many points profit you've posted in this journal so far and how low the ES would have to drop to take back them profits. Anyone keeping stats? I know people used to monitor stats of B1S2 back in the day.
took me a while to go through all my posts lol: -2.5+-4.25+-4.5+10+9+-6+12+25+65+20+8+25+16+6+14+10+14+33+8+8+11+11+25+10+18+10+8+8+27+15+30+24+10+13+7+10+9+10+12+13+15+30+14+7+7+7+11+8+16+7+20+10+7+8.5+3+5+5+9+7+5+7+5+20+8+18+16.5+16+34+31+10+10+9+5+5+17+14+38+29+19+14 total: +1073.75 MES points So a drop to 3500 ES would sting Currently long from 31 and losing 5 points
Odds favour a close above 30 on the day. Range bound session. EDIT: Assuming the LOD holds of course. A new LOD would probably sell lower.
September last year - an outside month: Maybe a drop to 4435 this month. Maybe. Outside month? Not so sure about that.
You are too new on ET so you probably never saw posts from the trolls telling that: daytraders always lose money daytraders can never have high winning rates You did 80 trades and 95% of them were winners. Your average net profit after slippage is 13.42 points per trade. And each winner was a real winner, not an almost breakeven trade. Impressive. On 1 MES you made more than $5,000 profit. Using a $500 margin per contract, you made 1,000% return. According to trolls and crypto addicted that is impossible. Now you don't see or hear these trolls. They will only show up if you lose a lot of money and/or have a low winning rate. These trolls have now confirmation that they are losers when it concerns daytrading. They have now proof that if they cannot do it, nobody can do it is a fake statement. This is for these trolls:
flatted out at 4534 from 4529, the slowest 3 hours wait for 5 points in a while, had to break into 2 separate trades to make this, getting difficult.
If you look at SPY monthly chart now, look back towards Mid 2018 to mid 2019 during this time period the monthly RSI was overbought for almost 1 year, just a small blip of a sell-off, market just went sideways, now look at where we are today, RSi levels up in the nose bleed zone again, If they did it mid 2018 to mid 2019 they can easily do it now and they most likely will, minus the news of course, news is always the wildcard. This Market is what it is, its a casino that will continue on its path until the fed decides to do something different.
Unless they decide not to taper @ Sep. meeting then they already have changed course. Its not a rate hike but market participants are too complacent about its effects. In any case from a sheer PA statistical observation ES has never had 8 consecutive bull candles on the monthly. If you prefer cash index there have never been 9. September will be 8 and October will be 9. So take your pick. Tighter bull channels with very small pullbacks that run this long typically end with a bigger correction (10-20%). Should be a good buying opportunity barring a black swan event.