@AdamMancini4 I had a feeling that was the one you took. I would have also, if I hadn't taken the 02 fail short for two levels. Really must thank you for preaching (a) patience and (b) profit protection
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Somewhat Newbie Trader
256 posts
@NewbieMktTrader I did! The failed breakdown of the 80 level was the only trade worth taking for me but I know readers took many others
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Deja Vu in #ES_F. Yesterday, 5680 to 5702 was the bull flag. I was looking for a breakout to 5734 target, and we hit & sold. Now, we are back to ping ponging 5680-5702 again. All chop now until FOMC, protect gains.
Bulls must hold 5680 (weak) to keep upside live. Leg down below
Adam Mancini@AdamMancini4
Back to ground 0 in #ES_F. Yesterday we bull flagged, 5680-5702. Bull flag breakout targets were 5720, 5734, and we hit 5734 then dipped. As posted 20mins ago, 5680 was support and we hit it precisely and bounced. Make or break for bulls here. This bounce fails, 5664, 5639 next
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@AdamMancini4 So here we are again at 80 after a 20 pt bounce. Would be nice to see a FB go 10-15 pts then come back and accept this level for another 10 minutes.
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Back to ground 0 in #ES_F. Yesterday we bull flagged, 5680-5702. Bull flag breakout targets were 5720, 5734, and we hit 5734 then dipped. As posted 20mins ago, 5680 was support and we hit it precisely and bounced.
Make or break for bulls here. This bounce fails, 5664, 5639 next
Adam Mancini@AdamMancini4
Very clean price action in #ES_F. Two upside targets were given for today (5720, then 5734) and we tagged ~5734 and dipped. Bulls are lucky to see some pre-FOMC pullback, but deeper would be better. 5690, 5680 (major support). 5702 must recover to attempt to resume higher
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@AdamMancini4 Thank you! Took a small short after test/revisit/breakdown of 02. (Was a little hesitant after 35 pt selloff.) Covered 2/3 1st TP and 1/3 2nd TP after bounce off 80.
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@Mariuszkap1 @AdamMancini4 I took my 1 trade. Then caught the last hour of sun this week, came back, and still chopping around. You are correct: shut down the platform for the day.
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@AdamMancini4 Best way to trade today is to sit on hands. Do not trade at all. Close the platform go further lunch and reopen the shop tomorrow.
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Today, 5619 was key support & #ES_F certainly agrees. We tested it this exact, rallied to 5630 1st target where I warned in bold to lock in gains. We then retested it, flushed & back again. Choppy rollover day, over-trade, lose money
Bulls must hold 5615-19 to keep upside live
Adam Mancini@AdamMancini4
Today 5619 was support was posted in #ES_F. We tested it after the open, popped to 5630 target where I warned in bolded letters to lock in gains, no greed in this zone - readers can see why. We just tested 5619 again, flushed, reclaimed. Bulls cant recover fast, 5604, 5598 below
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@Ross7979 @AdamMancini4 "Tricky spot" I'm not touching--could work out but I made my 2 levels for the morning.
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Today 5619 was support was posted in #ES_F. We tested it after the open, popped to 5630 target where I warned in bolded letters to lock in gains, no greed in this zone - readers can see why. We just tested 5619 again, flushed, reclaimed.
Bulls cant recover fast, 5604, 5598 below
Adam Mancini@AdamMancini4
Fairly clean follow through to start the day in #ES_F. 5619 was todays support as posted and must hold level to keep upside live. We dipped to 5619, held, ran to 5630 magnet/1st target. No greed today on rollover day, lock in here, let runner go. 5642, 5660 remain upside targets
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@AdamMancini4 @ashwagamma I cannot upvote this enough as this should be the mantra of every day trader: "we do not care about what bulls or bears want. We just focus on making money."
Take what the market gives us. No different from a successful pro sports team: take what the defense gives.
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@ashwagamma Easy trade! Terrible price action for bulls ahead of FOMC Wednesday but thats the nice thing about being a day trader is we can not care about what bulls or bears want and can just focus on making money
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Fairly clean follow through to start the day in #ES_F. 5619 was todays support as posted and must hold level to keep upside live. We dipped to 5619, held, ran to 5630 magnet/1st target. No greed today on rollover day, lock in here, let runner go.
5642, 5660 remain upside targets
Adam Mancini@AdamMancini4
5630 remains the magnet in #ES_F as we flag out. My Friday targets were 5619, then 5630 and we remain glued here. Trap zone Dont overtrade here (today is main rollover day for futures as well). No change: 5619-22=support (weak). Keeps 5642, 5660 live. If 5619 fails, dip 5604
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@AdamMancini4 Thank you! I can't believe I had a trading error: was setting up to take profit on 4/6 at 30 but accidently sold it early at 26.7. Sold 1 at 39. Now into my runner.
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@AdamMancini4 @DNouki Thank you for the insight as always. I was thinking this is a very slowwwww breakout of a major level. Not the forceful, high momentum BE. But time will tell.
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@DNouki Now that theyre pushing though you want to see price gun through this range in a straight shot well into the 5600s. Rejections here could unravel down very quickly, this configuration can produce substantial multi-week tops if bulls arent careful
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Fantastic follow through and patience paid in #ES_F. 5543-38 was support as posted for today. We sold there this morning, held exact. 5543-38 to 5578=chop zone with 5593 target, and incoming now
Lock in gains here - no greed- leave runners. 5604, 5611 if ES wants. Same supports
Adam Mancini@AdamMancini4
Lvls continue to respect as we work on a new post-rally base, to setup trend leg. 5543-38=range support, 5578=range resistance, 5560=mid-pivot to trade in #ES_F. We held support this morning, ran to resistance. Now, just hold runners, don't overtrade 5593+ when ready. Sell<5543
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@AdamMancini4 I should shut down for the day. Passed on the 60 buy twice, the 60 breakdown and the 43 reclaim. It's good to sit on one's hands until a trade triggers and after going into a runner, but trading is not a spectator sport
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After nearly 24hrs of relentless rally and +130 points from the 5438 long trigger, #ES_F finally seeing its first dip. 5560 was support as posted and after trying for 30mins to bounce, it cracked. 5442-37 was 1st target down, just hit.
5528, 5519 below. Must reclaim 60 to pop
Adam Mancini@AdamMancini4
We are up a staggering 170 points from yesterdays low and 130 points from yesterdays 5438 long trigger with no dip. ES finally putting in a micro dip attempt. 5560=support as posted (this was my upside target yesterday) now backtesting. Bulls must push fast. Sell 5543-37 below
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@AdamMancini4 Picture-perfect breakdown short: 73 held overnight; FB at 8:30 for 30 pts; returned and spent 7-8 minutes there b/4 moving breaking down.
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CPI continuing to deliver typical volatility in #ES_F & 5473 has been key pivot. Its failed breakdown on 1st test triggered long to 5505+. I posted after that 5473 fail triggers dip to 5458, 5438 & we are working down lvls nicely
5414, 5404 next down. 5438 must recover to pop
Adam Mancini@AdamMancini4
Very routine CPI action continues in #ES_F and we've had several great level to level moves. 5473 was support as posted, with 5473 flush and recover being long trigger. We got to 5505+. Now, flushing again for 2nd time No change: 5458, 5438 below. 5473 must recover to trigger up
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@AdamMancini4 Is there such a thing as a measured move off a hammer candle? The 8:30 30-minute candle was 27 points from low to close?
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Very typical CPI reaction today with the "1st move trap". As posted at 8am, 5473 was must hold for bulls. We sold there, held it/flushed slightly, then rallied, now +30 points. Lock in gains, let a risk free runner go, all bonus.
5511, 5518, 5528 if #ES_F wants. 5491=support
Adam Mancini@AdamMancini4
Initial CPI reaction in the books for #ES_F and usual, 1st move is a trap. 5473 support as posted and we dipped there, flushed it/the overnight low slightly, bounced 15 points. As always with CPI, **No greed** with profits. 5491 must recover to rally 5519+. 73 fails, dip 58,38
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@AdamMancini4 @EpicCharting @WestNyc1 And it is very hard (for me at least) to just watch and not make a stupid FOMO trade
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@EpicCharting @WestNyc1 For sure - this gave lots of time. When price just explodes upwards or downwards 80 points there isn't much to do but watch or hold a runner if in one
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Initial CPI reaction in the books for #ES_F and usual, 1st move is a trap. 5473 support as posted and we dipped there, flushed it/the overnight low slightly, bounced 15 points. As always with CPI, **No greed** with profits.
5491 must recover to rally 5519+. 73 fails, dip 58,38
Adam Mancini@AdamMancini4
Yesterday was consolidation day as we await CPI in #ES_F. 5474 reclaim was long trigger as posted with 5492, 5502 targets and we got it yesterday, backtested 5474 again last night Plan today: Size down. Bulls want to hold 5482, 5473 to keep 5502, 5518+ live. 74 fails, dip 58, 38
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@WestNyc1 @daytraderdad @AdamMancini4 Thanks for the reply. I have an aunt in CO, definitely different from NJ. If you ever return to NJ, let me know. We can get a beer/coffee/tea 5-6pm and work on AM's trading plan for the next day.
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@NewbieMktTrader @daytraderdad @AdamMancini4 Personally (if I wasn't asleep) and ideally, I would enter a few points above the 5am FBD (67-70) or even the reclaim of 73. I probably would have taken 77 too, although you have a major resistance level at 82. Just my 2 cents.
I just moved from NJ to Denver, nice change.
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On Sunday, the reclaim of 5414 triggered longs & the start of a relief rally leg in #ES_F. It is still ongoing. 5478, 5492 were my targets, and we hit 5491 2x so far. Now, we are chopping.
Plan: 5491-5458=chop with 5473 midpivot. Keeps 5492, 5502, 5511+ live. 58 fails, dip 5440
Adam Mancini@AdamMancini4
Its been very clean trading today in #ES_F. 5414 reclaim last night was the short squeeze/relief rally trigger with 5478 (hit at 10am, dipped), 5492 (hit exact, sold) targets No change, 5457, 5438-42 are supports (must hold, or we retest lows). 5478 must recover to resume up
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@WestNyc1 @daytraderdad @AdamMancini4 Where would u have gone long? I bought a small position at 77, expecting a retest of 73 which didn't happen. Sold 2/3 +7 and will probably sell small runner / 2nd TP at 5502.
(BTW, I think I can see your building from my new apt here in NJ. lol)
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@daytraderdad @AdamMancini4 Yeah, as long as we don't hit a FBO here. Should have jumped in that 5-6am FBD when I had the chance.
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@EpicCharting @AdamMancini4 I don't know, #stockmarketcrash is trending. We should sell everything. LOL
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Its a lvl to lvl day traders market today as we ping pong the levels precisely in #ES_F: 5478 was todays rally target/dip zone. We hit it, and dipped. 5438-42 was support as posted, it held now back at 5478.
Protect gains here. Test #2. 5492, 5511 if bulls want after basing here
Adam Mancini@AdamMancini4
Precise action continues in #ES_F. As written in newsletter, I was looking long today to 5474-78, which was the pullback zone. We hit 5478, and dipped. 5438-42 was dip target, and we hit it, and bounced. Bulls must recover 5478 to retake control. 5438-42 fails, sell 5414 again
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@Anthony_IV @AdamMancini4 I feel your pain. The past 2 weeks for every 1 profitable @Adammancini4 trade I did, I lost on 2 (or more) spontaneous unplanned trades.
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Its been a dream market for lvl to lvl day traders in #ES_F around the 5519 magnet, tested *12x*. 5492 was support earlier as posted. We sold there exactly, bounced to 5519, ran to 5528-33 next target exactly, then dipped.
No change: 5519 must recover to resume up, 5493=support
Adam Mancini@AdamMancini4
It should be no big shock where we are again in #ES_F: Right back at the 5519 "ATM Machine" level for the 12th test. Levels respecting with extreme precision: 5493 was target on the fail of 5519, and we sold to 5493, held, back to 5519. 5528-33, 5553+ next above. Same supports
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@AdamMancini4 I will not buy the first touch of 5519. I will wait 4 acceptance.
I will not buy the first touch of 5519. I will wait 4 acceptance.
I will not buy the first touch of 5519. I will wait 4 acceptance.
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Its been a good day for lvl to lvl traders in #ES_F and lvls defending well. 5519 was the "ATM Machine" and after 11 tests, it finally failed. 5493 was sell target as posted, and we hit it exact & bounced
Bulls need to recover 5519 to set a bottom. 5493 fails, we sell 5482, 5463
Adam Mancini@AdamMancini4
After an incredible 11 tests in 24hrs, the 5519 level finally caved in #ES_F (at least for now, we likely have not seen the end of it), triggering down. 5502, then 5493 were sell targets as posted earlier, and 5502 is hit. 5482 below 5519 must recover to trigger major squeeze
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@AdamMancini4 Overnight tried to breakout 33 4 times + 5th at 08:30. tested 19 3 times + 4th time at 8:20. Seems like all the conditions for a breakout long and short are in place. Why do I feel so hesitant to do either if it happens? Markets trap, by their very nature
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Yesterday, 5519 was key support as posted in #ES_F. I was looking for a rally off it to 5554+, calling it an "ATM Machine" and we held it an incredible 9x yesterday alone
Plan today: No change. 5519=support (weak now). Keeps 5543, 5542, 5578+ level. 19 fails, we sell 5502, 5492
Adam Mancini@AdamMancini4
This morning we got a classic short squeeze, 1st of this pullback leg. 5519 was support as posted with 5535, 5542, 5554+ targets. We got 5554+ in #ES_F, then dipped. Now, back at 5519 again. No change: 5519=support. 5535 must recover to resume up. Next heavy leg down starts<5502
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@EpicCharting @AdamMancini4 I was wondering about 35 for those of us not in a runner: In the NL and bounced off it 3 times in the past 1/2 hour. But I am also wondering about the 43 add which we also bumped into 3 times the past 25 minutes.
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@AdamMancini4 A failed breakdown of 5510 would be attractive at this point?
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Today, 5519 was support as posted and 5535 (1st profit take, into runners), 5542, 5554 were targets in #ES_F. We got a multi- level run, and now its time for mid-day chop. Protect profits, hold small runners.
Ideally, bulls want to hold 5535 to keep it going to 5575+. Sell<5519
Adam Mancini@AdamMancini4
Excellent follow through in #ES_F & a good multi-level long. 5519 was support as posted and the following targets were given: 5535 (1st profit take, into runners), 5542, 5554 (just hit). Just keep riding those runners. 5575 next (decent res), then 5588-90. Must reclaim to bottom
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