Just look at the 60 min chart of both ES and NQ starting from october 4th. Then look at how price bounced off september 20th high. And to top it off, look at ES structure from yesterday until now, basically rally straight up and then consolidate. Does any of this look bearish too you? Don't short this market. Wait for sellers to do some serious technical damage. At the very least wait for ES to break 1215 (low of this range) and you might have some room for profit on the short side. If you are a very short term scalper trading for a few ticks then omit what I just said.
Mostly I watch a 15M during the day... Key disappointment is the Short I had to 2333.. was 5+ to the good and I thought at best we are in a range so 2330 "should" have been a given (we covered the full range yesterday)... But.. noooo. Until we close under 2344 15M no more shorts for me today.. Then again 2370 could happen and above.. Last few daily tops have been sold quickly.. this one suspiciously holding up here.
Very correct.. My bias getting the better of me. Your explanation is the same I have tried to memorize forever... Before you take a side, make sure that side has CLEARLY broken the back of the other side.. The greed (or lack of confidence to properly get in) in tempts me to try to pick tops/bottoms.
4 scalps so far, all longs.. -2, +3.5, +2, +3.5 This market is on a morphine drip, possibly due to the beige book at 11 pst.
A mad man at work.. mentally wasted... Gained 25 points from the low.. -3 after comms to end day.. Pre-market trading got me.
All I had to do was trade every time the moving average turned.. The Holy Grail under mine eyes aaaalll this time....
Some nasty action in the last hour. This is why I hate shorting in the back drop of the larger up trend. But once ES broke 1215 I certainly was not going to go long.
Posted the wrong chart.... Range bound 2300 to 2370.. a bit of a downward lean.. like a bullish flag.. 2300 MUST hold