7 thoughts on “Buy ES NOW tg=2742.50 st=2732.50 ts=eod (disc)

  1. premise is that ES and NQ are breaking out at the same time.

    reasons to NOT like the trade: TF nowhere near it’s HOD & Dow has a bit to go, so so quick boosts from either. On the dailies, NQ might have resistance ahead of the highs from 7 and 8 days ago. Also, TF currently in yesterday’s range. Quick move since 2:00 eastern, could be a rejection right now. No reason to think there are a lot of shorts wanting to get out.

    reasons to like the trade. ES has clear open space above today’s HOD. Patterns look good on 5 & 15 minutes charts for ES & NQ. End of day activity often extends breakouts that occur around this time of day. NQ has a nice range breakout pattern. Several big stocks show nice wedge or range BO patterns right now.

  2. Post – trade analysis: Well, at least it was quick. 🙂 Not sure what the news was, but it sure took us out quickly. It happens. You can never predict it. Just happens. All things considered, I’m sure little spikes from news help as often as they hurt. It’s human nature to remember the pain and forget the happiness, so it’s “feels” like news is a bad thing. But it’s not. Any random little gyrations, if their moves are equally positive and negative, and you’re trading both long & short, over time, won’t have meaningful impact on your results. Yep, being stopped isn’t fun, but it’s part of the game. The thing to focus on isn’t the result of any one trade, it’s your stats over a long period of time.

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