ES Journal - 2023/2024

Doesn't that look like a head of a bull?

 

Anyway, this is exactly what I meant by a chop fest. You might be right on your calls but, unless you have a 50 point stop, they're gonna shake and spit you out (see the above chart).

You fired!

 

So far, it's been a case of where is the path of least resistance.

 

Now 38.2 extension tgt

 

I dunno. I ain't much a Fib guy. But speaking from a psychological point of view, when you ask yourself WHY and WHO (more importantly, FOR WHOM) they took the market down in the overnight session, you should know where we will be heading.

 

All I know is if I take my signals more of them will work than don't and pay better when they do than they cost when they don't. As far as the zone targets go, we usually see reactions at the levels which are caused by institutional algo's. As long as they consider them valid...I do. In short, as a day trader, I am more concerned with what rather than why.

 

I closed my position here

 

short 4015

 

18 is 50% ext tgt, does it get there?...who knows but clean swing trail stops from the zone entry