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Brooks style ES analysis/trading journal

  #81 (permalink)
 TalB 
Pittsburgh, PA
 
Experience: Beginner
Platform: Ninjatrader
Trading: ES
Posts: 103 since May 2013
Thanks Given: 22
Thanks Received: 46

Daily: Yesterday was a bear reversal bar for a 2nd entry sell off of the top of the 3 week TTR. We should test below but given the recent PA, more TR PA and buyers below would not be surprising. Buyers may come in around 2428, the last swing low.

60 min: Yesterday we filled the upper gap and then quickly rejected below the TR high. We may get buying at end of 2nd leg down for a DB at 2428 prior low.

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  #82 (permalink)
 TalB 
Pittsburgh, PA
 
Experience: Beginner
Platform: Ninjatrader
Trading: ES
Posts: 103 since May 2013
Thanks Given: 22
Thanks Received: 46

ON: Channel down in bear channel and is opening just below prior day's low to trigger 2nd entry short below yesterday. May get buyers not far below, around 2428.

10:00 AM EST Consumer Confidence report, 1:00 PM EST Fed chair speaks

Bars:

1 Big bear trend bar with shorts entering below Y but tail weakens bar.

2 Strong FT selling, but support not far below.

3 Big bull doji, may have SA.

4 Bull inside bar for poss OR, but tail, may have SA.

5 Strong bull entry bar for OR. Let's see if any FT. 10:00 report at the close of the next bar.

7 Strong entry bar for H1 buy above weak PB bar 6.

8 Sellers coming in at the open but weak close for bears, tail.

9 Bull inside bar but not far below EMA.

11 Wedge with 5 and 8, failed BO of the HOD, BO PB (from Y's low) at EMA, but bull body.

12 Strong bear trend bar EB for wedge BO PB short below 11, but we are in a TTR. Let's see FT.

13 Strong bull trend bar, 2 bar rev, but in TTR just below the EMA.

14 Strong bull entry bar above 2 bar rev. Likely close gap above.

15 We broke strongly back into Y's range. We around Y's close here and the 60 min EMA. May pull back some.

16 Doji PB bar. Prob BB.

17 H1 buy above but doji and 2437 res and downtrend line not far above.

No 4 point set-ups that I liked today. No trades taken.

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  #83 (permalink)
 TalB 
Pittsburgh, PA
 
Experience: Beginner
Platform: Ninjatrader
Trading: ES
Posts: 103 since May 2013
Thanks Given: 22
Thanks Received: 46


Daily: Tuesday was a strong bear entry bar below Monday's reversal bar off of the TR high. This is selling pressure building. But we went down to TR lows and not through them. We are now in a buy zone of the TR and may get buying here instead of FT selling.

60 min: Yesterday had 3 strong bear pushes down to TR lows in a wedge pattern. Bulls may try to buy this wedge bottom with a target of the top of the wedge which was Y's high, 2437. Bears will want a failed wedge and a strong BO below Y's low. Those are the scenarios I am watching for.

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  #84 (permalink)
 TalB 
Pittsburgh, PA
 
Experience: Beginner
Platform: Ninjatrader
Trading: ES
Posts: 103 since May 2013
Thanks Given: 22
Thanks Received: 46

ON: We had 3 more pushes down ON to the TR lows before reversing up strongly on high volume. Buyers really came in there. We are opening near the middle of Y's range with Y's high as the target.

Bars:

1 Bull trend bar but tail slightly weakens it.

2 Strong bear reversal. We may be forming a TR here between around the current high and about 2421 where strong buying came in yesterday.

Had to step away for a minute. 3 and 4 reversed off of the 2428 (Low of last week) resistance.

5 Bear BO down to support (was resistance yesterday) around 2425.75 where sellers came in Y.

6 Rev attempt at support but weak/tail.

7 Strong bull entry bar above 6. BDBU.

8 Big bull BO, but tail closing below a prior lower high and just below the 60 min EMA.

9 Bear rev attempt, but tail. Closed gap above bar 1 high. Prob BB but risk of deep PB given TR PA prior to bull rev.

10 Bull bar reversing 9 triggering H1 buy above, but close at bar 9 high, not above.

11 2 bar rev with strong bear bar. May have sellers below for PB here. Likely to stay above 5 low, though, and ultimately have more up after strong bull BO.

12 Strong bear entry bar below 11 rev bar. Price started moving fast at the close likely due to the 10:30 oil report.

13 Bar 13 opened and moved very fast as well after the 10:30 oil report (unless some other news just occurred) and it broke up to a new high. There may be sellers above 8 since price pulled back below the prior bar 1 high. We are also at the 60 min EMA.

14 Wedge with 1 and 8 at 60 min EMA. Poss OK sell below.

15 Did not trigger below 14. Instead strong bull BO. Target above is Y's high, 2437, 2 points above.

16 Bear rev bar for failed BO above wedge. May get one more push up before bigger reversal attempt.

17 Another H1 triggered above a bear PB bar for a bull BO. This the 3rd consecutive buy climax just below resistance. Bigger PB attempt probably coming, but may try to hit 2437, Y's high first.

Have to go. No trades taken. Only potential swing entry for me in retrospect was buy above bar 6 but I didn't like the signal bar and I thought there might be a little more down at the time. If a DB was formed or a 2nd entry, I may have taken the long.

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  #85 (permalink)
 TalB 
Pittsburgh, PA
 
Experience: Beginner
Platform: Ninjatrader
Trading: ES
Posts: 103 since May 2013
Thanks Given: 22
Thanks Received: 46

Daily: Price reversed strongly off of TR lows. Now looks to be set to retest the TR high around 2443.50. May find sellers there.

60 min: Wed reversed all of Tuesday's bear trend. Likely get another push up to test TR res at 2443.50 and prior lower highs, next at 2447.50.

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  #86 (permalink)
 TalB 
Pittsburgh, PA
 
Experience: Beginner
Platform: Ninjatrader
Trading: ES
Posts: 103 since May 2013
Thanks Given: 22
Thanks Received: 46

Late start to the morning for me today.

ON: Traded above Y's high, formed a DT and reversed to open back in Y's SW range that formed in the last couple hours of Y. We may pull back to channel lows at around 2434 and find some buyers there.

Bars:

1 Big bear bar but small tail and close at the range low rather than below.

2 Bull doji, more buying at that range low.

3 Big bear BO strongly below channel support. I STC.

4 Strong bull rev bar. May have buyers above for strong rev up. I exited above for -1.50.

5 Bear rev bar for BO PB short below. May have buyers below at the 3 close where disappointed bears will exit BE.

7 Sellers overcame a lot of buying here. Looks to be creating another leg down.

8 More strong buying coming in. Another strong bull rev bar. Poss buyers above for stronger bull leg.

9 The bears showed a lot of strength pushing through the bull attempted reversals. We are now at support of last week's low.

10 Wedge with 4 and 8 or 1 and 8 at supp.

11 Another L1, BO PB short. Bears have been strong but have had bad FT on all BO's. Bulls have made money on each BO buying low and scaling in. No gaps since the bar 3 BO.

12 Another failure at last week's low of 2428. Strong bull rev bar outside bar. Because of big bar, stop would be far away buying this attempted reversal. Interesting to note that this bar was the closing of the 60 min bar. See how the bulls through in a lot of buying to close well above the 2428 support level to weaken the close of the 60 min bar and close it above support.

13 L2 short below 13, but at support and bad SB.

14 Another bull rev bar at support, may have buyers above for targets above, 9 high, EMA, and 4 high. I bought above.

15 Strong EB for buy above 14, but just under EMA.

16 I set PT to 1x IR (initial risk below SB) and got out with +2.50. Considered 2x AR(actual risk below 15 low) which was +3.50 but that was just above where I thought sellers might come in (scale in bulls who bought 4 making money on their lower entries and getting out BE on their first).

17 Strong bear entry bar for wedge with 10 and 12 at EMA, DT with 5.

Got to go.

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  #87 (permalink)
 TalB 
Pittsburgh, PA
 
Experience: Beginner
Platform: Ninjatrader
Trading: ES
Posts: 103 since May 2013
Thanks Given: 22
Thanks Received: 46

Daily: We are back in the middle of a now month long TTR, but selling pressure is building. Last 4 bars have been bear bars and 6 of the last 7 have been bear bars. Last Thu was a big failed BO of the bottom of the range and possible bear trap setting up a retest of the highs. If that is true, we may have another weak test down to the TTR lows followed by a reversal up. Or the bulls may be about to throw in the towel, let the bears BO and wait till much lower to start buying again.

60 min: We have had 3 pushes down and a false BO of the bottom of the TTR and trend channel line and have reversed strongly back up. We are still making lower highs and are in a bear trend but being in the middle of the month long TTR, price could wiggle around either way here.

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  #88 (permalink)
 TalB 
Pittsburgh, PA
 
Experience: Beginner
Platform: Ninjatrader
Trading: ES
Posts: 103 since May 2013
Thanks Given: 22
Thanks Received: 46

ON: Formed a DB around the level of Monday's low and rev up. We are opening around last Fri's high and the 2428 level which has been support and resistance.

Bars:

1 Bear doji closing at 2428. TR bar increases the chance of a TR open.

2 Bear trend bar but at the EMA and 60 min EMA and just above Friday's close. May get some buyers here.

3 Bear FT but price is coiling in a horizontal triangle for past couple days.

4 4 CC bear bars but big tail and buyers coming in here at ON lows.

5 Bear inside bar for L1 short below, but just above support of ON low.

6 Micro DB with 4. Bull rev bar at ON low. But following 6 CC bear bars.

7 Strong bear BO, but I don't like this location. Buying has occurred in this area over the past few days.

8 Bull doji near support. Bad SB for bulls. May have SA.

9 BO PB, L1 short below, but just above support.

10 Bear entry bar for L1 short but tail, right at support. Potentially forming wedge with 4 and 8.

11 Not strong entry bar for wedge reversal at support.

Had to step away. Looks like we got better reversal signal with the outside up bar at bar 12. Have to go early.

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  #89 (permalink)
 TalB 
Pittsburgh, PA
 
Experience: Beginner
Platform: Ninjatrader
Trading: ES
Posts: 103 since May 2013
Thanks Given: 22
Thanks Received: 46

Daily: Wednesday tested down to the TTR lows again and found buyers. Sellers did come back in at the second half of the day to close below the open forming a bear doji bar. That makes 5 consecutive bear closes adding signs of selling pressure. We may test up higher first, but the bears look to be gaining strength for a real downside BO.

60 min: Wednesday formed a DB at 2419.25 and may reach to at least 2436.50 to form a DT. We still have lower highs being made, but we are pushing on that downtrend line and may break out of it Thu to reach prior lower highs before getting much more down.

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  #90 (permalink)
 TalB 
Pittsburgh, PA
 
Experience: Beginner
Platform: Ninjatrader
Trading: ES
Posts: 103 since May 2013
Thanks Given: 22
Thanks Received: 46


ON: Price broke down strongly ON but found buyers at support to rev back up into the open. Price gaped down but is opening near Y's low.

10:00 AM PMI Report, 11:00 Crude oil inventories

Bars:

1 Bull rev bar off of Y's low.

2 Strong bear BO bar but right at ON lows and support.

3 Bull rev bar at support, but strong bar 2, may have another leg down.

4 Another bear BO but tail. We are in a zone wear strong buying has occurred in the past.

5 Big 2 bar rev, but tail weakens bull bar. Report coming up at the close of bar 6.

6 Another bear bar but weak close. Wedge with 3 and 4.

7 Attempted rev up found sellers at what was support , now res and price turned back down. We are still in an area of strong prior buying which makes me not want to be a seller right now.

8 Sellers are pushing hard down but buyers are coming in as well as shown buy the buying tails.

9 Strong bull rev up from parabolic wedge bottom with 3, 4, and 8. Closed gap below 4. Bulls are making money buying lows and scaling in.

10 Bear doji inside bar. L1 short below, but prob BB after strong rev up with 8 and 9.

11 L1 triggered but weak close for bears.

12 2nd entry long above but bull doji SB.

13 Rev bar for 2nd entry buy, but bear body. Bulls not doing a good job here holding off the bears.

14 MicroDB with 13, outside up bull bar, but TTR lowers prob.

15 Bear rev bar, L2 short below. Poss OK short, but may still have buyers at support below around 2412.50.

16 Bear doji, weak entry bar for L2 shorts, but bad SB for buy above.

17 Small doji inside bar. May get increased volatility up or down at the close of the next bar after the oil report.

18 Doji bar, bears are failing but bulls are not showing strength with good rev bars.

19 Strong bull BO. I considered buying above 18, but would have preferred bull body on the bar to show more bull strength. Looks like it did turn out to be an OK entry bar. One thing I have been looking at is volume as well. Bar 18 had the lowest vol of the day on the attempted downside FT and closed near it's high. This could be considered supply running out and more likely to produce a bull BO.

20 Doji FT, not great for the bulls. Poss wedge with 9 and 15. But may get at least one more push after strong 19. Targets above are Y's low at 2419 and MM target from 8 low to 9 high at 2420.50.

21 Strong bear rev from wedge with 9 and 15 at EMA. Closed gap above 15 high. Not good for the bulls.

22 Bear FT. BO test of bar 18 entry.

Got to go. Did not take a trade. Considered buy above 18 but did not like that it did not have a bull body.

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Last Updated on July 18, 2017


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