ES - Learn From Your Losses Even When Your Right!
Updated
Title doesn't really make sense does it..?
To me it does and this weeks price action is an example of this statement.
Last week, i was expecting a continuation in bullish price action before a eventual sell-off, not understanding that time plays a very crucial role in delivery.
What i was projecting was a multi-week 2-step plan that, so far, is going great.
Further continuation to the upside, targeting the $5,770 - $5,780 is in the cards for next weeks trading range.
To me it does and this weeks price action is an example of this statement.
Last week, i was expecting a continuation in bullish price action before a eventual sell-off, not understanding that time plays a very crucial role in delivery.
What i was projecting was a multi-week 2-step plan that, so far, is going great.
Further continuation to the upside, targeting the $5,770 - $5,780 is in the cards for next weeks trading range.
Order cancelled
It's the art of identifying times in the market when not to trade where you learn a lot. Last month going into this month is a classic example.
In normal market conditions, whenever there is relative equal highs/lows or/and relative equal arrays, you'd see a lot of liquidity come into the market with buyers and sellers stopped out of their position due to tight stops.
In this case, 5,665 - 5,669 should have been a easy price zone to clear as the macro sentiment for ES is bullish.
It could be argued that YM has already booked highs meaning ES is next to follow as price correlation between the pair is high.
Refer to my next post for this weeks update.
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