ES Journal - 2023/2024

Discussion in 'Journals' started by Buy1Sell2, Dec 6, 2022.

  1. Buy1Sell2

    Buy1Sell2

    Either way, the close on Friday was a strong one.
     
    #2431     Feb 19, 2023
  2. Friday opened mid range and closed on top of the range. Here's the last prior occurrences.

    Personally, I wouldn't read too much into it for long term price action, but it does appear like it's a good set-up for a move higher the next day. Note however that a gap up the next day appears to be sold.

    To me, it looks like we're stuck in a range here, so I'm just going to see if we can see a move back to mid-range or higher, say 4120, and then take it from there.

    upload_2023-2-19_19-22-4.png
     
    #2432     Feb 19, 2023
  3. tiddlywinks

    tiddlywinks


    I'm not a candlestick fan, and certainly not a single candle, but here is what Bulkowski has to say about Fridays candle...

    The dragonfly doji is an interesting name for a candle that is supposed to act as a bullish reversal. It is a reversal candle, but only half the time. Random, in other words. If you see a dragonfly doji in the bush, do not be frightened. The 10-day performance after the breakout ranks it 98th out of 103 candles, where 1 is best. In other words, ignore it. Its bite is usually not fatal. Usually.

    https://thepatternsite.com/Dragonfly.html
     
    #2433     Feb 19, 2023
  4. Buy1Sell2

    Buy1Sell2

    Your chart though is the 24 hr chart.
     
    #2434     Feb 19, 2023
  5. Buy1Sell2

    Buy1Sell2

    Correct----a dragonfly doji by itself does not mean anything, but the followup day is the confirm.
     
    #2435     Feb 19, 2023
  6. No. Daily bars using the RTH session template similar to SPX.
     
    #2436     Feb 19, 2023
  7. Buy1Sell2

    Buy1Sell2

    The 390 minute time frame doesn't appear to be giving accurate info. The close Fri was less than 2 pts above the open.
     
    #2437     Feb 19, 2023
  8. Was your candle from the actual SPX index?

    ES on Friday closed 16:00 at 4088.25. 12 points above the Open.

    I don't pay close attention to the differences between ES/SPX open/closing prices (and not forgetting the cash/futures premium), but there will often be some differences. Roughly, it should be similar, though.
     
    #2438     Feb 19, 2023
  9. Buy1Sell2

    Buy1Sell2

    upload_2023-2-19_13-55-20.png
     
    #2439     Feb 19, 2023
    Laissez Faire likes this.
  10. Cessna06P

    Cessna06P

    Down out of the gate. Where are we going this week?
     
    #2440     Feb 19, 2023