ES Journal - 2023/2024

V in the making

 

We shall see.

Looking like a bull trap.

 

The other day I mentioned in @Sekiyo's journal that I had added a Topstep combine to my prop firm portfolio.

Two days of monster NQ moves and I'm now funded with Topstep. Just one account for now, though once I get accustomed to the firm and a little more comfortable with the platform I will likely follow the path blazed by @Laissez Faire and add up to four more more.

 

I'm calling it. Bull trap.

It's about time to test the 200 day again. Been a while.

Buckle up.

 

It is a BULL & BEAR trap.

Now there is only bull carcass and bear carcass.

Notice that the ES day range has shrunk to < 40 points.
ES used to be able to exceed 60 points day range.

The market is waiting for the next big news/event.

 

And the ES used to be stuck in a 5-point daily range pre-Powell.

Count your blessings.

 

I'll take the other side of that bet.
The top's in.
Or damn close.

 

5874 on the ES as I type.
Give it a little +/-.

 

OK. There was a big news/event a short while ago.

Taiwan index, ES, and NQ all up probably due to the TSMC earnings release.

 

In my book this is basically a V (OK, an upwardly stretched "N" over two days )