8 thoughts on “Buy ES NOW tg=2507.25 st=2501.00 ts=15:50 (Disc)

  1. squeeze. Es gapped up outside yesterday’s range with essentially no pullbacks. Ditto for YM – neither pulled back to their yesterday’s hod’s. TF and NQ pulled back into yesterday’s ranges, but not much for TF. So a lot of players who are short in TF, ES, YM indexes/components are stuck right now, hoping for a less painful exit. If NQ gets back up to it’s HOD, it’ll be close to the many-day High on 9/1. ….. This is pretty early in the afternoon for a short squeeze play, might be too early. The stop at 2501.00 feels pretty aggressive. Like all tight gustsy trades, a little wiggle here & there might take us out. …. filled 2504.00 btw

  2. Hmmm. Looking at yesterday’s ranges. ES, YM, and TF, – their afternoon highs took out the 2-days-back highs. So folks who had been short from 2 days back, got squeezed yesterday (Friday.) Would have been better to see the last trading days (“yesterday’s) (Friday’s) afternoon high staying more or less inside the prior day’s range – more shorts would still be holding their positions right now. And maybe panicking.

  3. Emotions, emotions, emotions. Keep ’em in check. This pullback is close to the low of the ES 12:50 and NQ 13:25 bars – “feels” scary. The original premise of the trade is good, stop (albeit aggressive) and target are intelligent. Trade the setup, not the fear.

  4. This is a great trade to reflect upon. It “felt” awful. Essentially no favorable excursion. We “felt” wrong, from the outset, and through the trade. As the trade transpired, there were lots of reasons to feel bad about it & potentially modify the trade mid-course.

  5. But even when there were 3 or 4 reasons to “feel” bad about the trade, there were 3 or 4 reasons to feel good about it, too. NQ returned to its open at about the time ES was about a point away from the stop; pullbacks on UP days often pull back to the open before continuing to move upward. And price was in a favorable position relative to the so-far-today VWAPs. And depending on how you believe fund inflows happen after the 15th (this week a Friday,) big fund managers still needed to time-bucket a lot of buys before eod. And, and, and. But when we see price moving against us, human nature makes us focus on the negatives & become blind to the bigger picture.

  6. Also – price retraced almost an entire’s day’s range in (6) 5 minute bars. That’s rare. All things considered, I’m pretty happy with the trade.

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