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Funny you said that, because I never been a coffee drinker, and I bought a small espresso machine last week with some Bustelo coffee... that really gets me going!
Can you help answer these questions from other members on NexusFi?
Cloud: Bearish
RSI: 33 Price Action:
*Trending down, broke through top of cloud and hit cloud's support $2587, (price is now right at support of cloud).
*The beginning of a TK Bearish Crossover
*Price is testing price levels of previous lows on 2.9.18
4HR Chart
Cloud: Bearish
RSI: 26; Oversold
PA: Price trending down below cloud.
VP: High volume area that price is getting attracted to = $2576
Conclusion: Price to test 2550-2530 area and pullback. After pullback, depending on market sentiment price might reverse and continue bearish.
Before the bell, on the 5min chart, price trended up nicely and was above the cloud. But because of the long term 4HR chart, I'm was leaning more to the short side. I made a note to myself I was going to go short after a bearish TK crossover and/or price broke into the cloud.
* As price was over extended in the 5min chart; I went short, cover my short with $62.5 gain. I cover my short because I felt the market wasn't ready to downtrend just yet.
* I went in short again, but price was moving quickly in my direction so I covered. $0.00
* After the turning point was more noticeable and the TK lines were squeezed together ready to crossover and closed to to the top of the cloud (with a high probability of price breaking down through the cloud) I went short again. Price trended down and broke through cloud. I covered my short $450
Today I was completly focused on the ES, so I didn't trade the 6E
Haven't been able to post do to my job; and I switched positions and doing new training with overtime, So I missed a couple of sessions. I will be missing Wed & Thurs too.
ES
Daily: As I did the market analysis; on the daily, right now the price is trending down; but is finding support, right now the market is training to decided if it should break support or reverse.
4HR/1HR Chart
Price is in down trend channel, hit support and might be able to bounce back. Price is currently in the middle of the channel.
15MIN
Price was at the middle of the wide channel, which I dont trade around that area. But as price came back up, its seems as there was going to be a TK crossover, and price broke above the bearish cloud, I decided to go in long with a tight stop. Price ran quickly. I knew most likely that price was not going to hold since the TA is pretty bearish, so I got out. Good idea since price when back into the cloud and traded side ways
Came out with gains of +212.5
6E
Traded the 6E long; but price was not doing what I expected. I got out loss of -12.5
(will update the rest latter).
Haven't gotten enough sleep. I accidentally over slept an woke up at 9:30am with one eye open.
As soon as I got the charts loaded, I noticed that price was reversing at support of triangle to the upside (after price broke out of the down trending wide channel; price started forming a small triangle pattern.
On the 15min chart; by the support of the triangle, there was a bullish tk crossover. This was happening all at 9:30am
I have a rule that I don't trade around the first few minutes of the open, so I waited. at around 9:45am when I started seeing price moving, I jumped in, and quickly price jumped down before I was able to put in a stop loss. Finally I cut it, it was hard, because there was a super high probability that price was going to reach resistant. But I was down 3 points. and I couldn't let the loss get any bigger. I pulled the plug P/L: -$150
I let the price move a bit so I can get more of a feel of the market. I jumped back in going long when the price started to retrace a bit. I put my stop loss; and immediately the price jump to my stop loss. seriously!!! 1.25 points loss in a second. P/L: -$62.5
I walked away and went to eat breakfast. I saw price going in my direction after I got taken out twice. I just turned off the computer at that time. Will check how it played out tonight.
Mistakes:
-Not enough sleep, didn't really do a proper market analysis, I wasn't focused. etc...
Daily
RSI: 78; just reached over bought zone Price Action:
-Price is currently trading inside a bearish triangle
-Triangle 80% complete
-High probability of price reaching and bouncing back from the 2700 level
*looking for short trades
4HR
RSI: Over Sold Zone
Price Action:
-4HR bullish triangle trading inside bearish daily triangle.
-Triangle can breakout for the 2700-2725 level and come back down
Probabilities
-Price reaches 2700-2725 and falls back down to 2600 level
-Price breaks above 2700-2725 level
-Channel between 2675 - 2600 level
