issam
180 posts
Ultra slow motion continuesAs posted 1hr ago the "Microscopic, slow motion dip" we just had was the *largest since last Wednesday*. 6035-40=support and #ES_F couldn't stay below long. *dont overtrade this noise*
Keeps 6055, 6065 live. If 6035 fails, bears get another crack at it
Adam Mancini@AdamMancini4
As extreme as it sounds, this microscopic, slow motion dip in #ES_F is the *largest since last Wednesday morning. 6035-40 was support today with failure triggering dip, and slow motion sell underway. 6028 1st down (almost there), then 6019. 6040 must recover now to resume up
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Great follow through in #ES_F, but now back into the chop for #ES_F. 5740, 5728 were supports today. 5740 held 2x, failed on the third. We then held 5728, put in a failed breakdown of Thursdays low, rallied. Protect gains
5763 next, then 5779+. 5728 is weak now, hard sell below
Adam Mancini@AdamMancini4
Bulls held where they had to in #ES_F and we just put in my core setup: A failed breakdown of Thursdays lows. 5740 was key support today and it failed on 3rd test. We sold to 5728-30 next down, rallied Decision time now. 5760-63 next up. 5728-30 *is now weak*. Sell 5712 below
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@AdamMancini4 Adam, I asked you a question yesterday about making a trade with a target of 10 points and you didn't answer, I did it several times today
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@AdamMancini4 Adam, one question, would you accept a short trade with a target of 10 points, what would be the minimum amount of points 10-15-20…? Can’t wait for this election stuff to be over with
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Major headline volatility ahead this week (election + FOMC). This means lots of trapping. As always, if markets were as easy as trading initial headline reactions, everyone would be rich. Opposite is true - markets trap. Focus on price, tune out the noise, trade *after* the traps
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@AdamMancini4 Adam, are the traps upwards and downwards, that is, operating level by level in both directions?
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@AdamMancini4 Adam, are the traps upwards and downwards, that is, operating level by level in both directions?
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Note: There is obviously much more to this setup than the simple diagram above. In the methodology section of my newsletter I discuss in detail the criteria I require to trade these and the many nuances tradecompanion.substack.com/p/my-trade-met…
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@AdamMancini4 Adam, bullish was built like this, the price reaches a resistance and cannot, it goes back and so on several times until it breaks and begins to run.?
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Strong selling continues in #ES_F off 5902 resistance as we work back down the range. I warned nonstop that all upside objectives were met & its obvious why
Same drill as usual, selling continues until a resistance recovers. That is 5848 now. 5842, 5825 (major) next supports
Adam Mancini@AdamMancini4
At 11:09AM - after hitting 5902 target - I warned anymore upside was bonus, all objectives were met & to wrap it up. It was High of day. More broadly though, 5900-15 has been ceiling since Oct 15th. 5915-5820=a new flag No change: 5849 next support, 5865-68 must recover to pop
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@AdamMancini4 Adam, even though there are red days, do you think the trend is still bullish today?
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Slow start to the day, but finally getting good follow through and 5864 backtest short continues to pay for in #ES_F. 5838, 5828, 5820 were targets and coming into 5820 now. Would tightening up stops on shorts now for those who took it
5838 must reclaim to squeeze. 5808-04 below
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@AdamMancini4 Adam, are you not going to buy until you see a clear recovery at 5855?
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Slow start for #ES_F. After breaking down the ~5864 support shelf from Mon/Tuesday yesterday we saw what usually happens after a breakdown: The zone backtested, and we sold. Good follow through so far.
No change: 5838 (decent support), 5820 below. 5855 must recover to pop
Adam Mancini@AdamMancini4
As discussed in yesterdays newsletter, its no surprise that #ES_F rallied to ~5864, then dipped. ~5864 was a huge support shelf on Mon/Tues. We broke it yesterday, therefore it becomes and shortable resistance on the 1st backtest. 5855 must reclaim to resume up. 5838, 5820 below
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As discussed in yesterdays newsletter, its no surprise that #ES_F rallied to ~5864, then dipped. ~5864 was a huge support shelf on Mon/Tues. We broke it yesterday, therefore it becomes and shortable resistance on the 1st backtest.
5855 must reclaim to resume up. 5838, 5820 below
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@mobergcj @ShamrockSeven7 38 would be perfect from a symmetry perspective
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@AdamMancini4 Adam, I understand here that you would buy long, in case there is a pullback or the price stays in this area for several hours?
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Full round trip: In #ES_F, 100% of sells are followed by short squeezes, and we got both. Yesterday 5857 failed, triggering shorts. I was looking for 5846, 5860 after overnight after & we got it
Plan: 5864 (weak), 5855=supports. Keeps 5878, dip, 5886 live. 5855 fails, sell 5838
Adam Mancini@AdamMancini4
After a full day of selling, the late day bounce hits in #ES_F. 5857-50 triggered shorts as posted. 35 mins ago, I posted to tighten stops on runners as we sold into 5799 support. We hit 5801 low, squeezed 5846 next up & first challenge for bulls. No "bottom" until 5860 recovers
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@AdamMancini4 Adam, one question, do you recommend buying or selling within the 23 hours that the ES is up and running? Of course, when a configuration is activated?
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Today's limited strength has been due to my core setup: A Failed Breakdown of yesterdays 5865 lows in #ES_F as given in yesterdays newsletter. We flushed, trapped shorts, reclaimed.
5878 was 1st target as posted, and its been a ceiling. Will need to clear to run to 5892, 5902+.
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@AdamMancini4 Adam, they need to reclaim 5878 to turn bullish while sentiment is bearish below?
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Since Thurs #ES_F has been all about 1 lvl: 5892 which is a magnet. Yesterday ES put in a failed breakdown of 5878 with 5892, 5902 targets. We hit 5902, rejected overnight.
Plan today: 5867, 5855-57=supports. Bulls must reclaim 5878 to rally back to 5892+. 5855 fails, sell 5843
Adam Mancini@AdamMancini4
As written in Fridays 4pm newsletter, the flush & recovery of 5878 was actionable & worked nicely to 5892 profit take Good example of Failed Breakdowns in practice. 5878 was a major low from Thursday 9pm. We lost it, trapped shorts, recovered, ran. 5902 next if #ES_F wants more
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@AdamMancini4 Adam, between 11:00 am and 2:00 pm it doesn't perform operations or does it depend on the configuration?
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Its been *very* clean level to level action to start the week in #ES_F. 5892 reclaim triggered long with 5902 1st profit take, 5907 second. We hit 5907, dipped. *This is why we lock in level to level*.
No change: 5892 must reclaim to rally again. 5878, 5869 (major) are below now
Adam Mancini@AdamMancini4
Clean start. I wrote at 8am that 5892 had to recover to trigger up with 5902 1st target, 5907 2nd. They hit. Great example of the setup I discuss daily in the newsletter: Failed Breakdown. 5915 if #ES_F wants more, then 5933. Lock in gains lvl to lvl, leave runner. No greed.
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It took time we just got a 2 target hit run in #ES_F. 5907 then 5915 were targets as posted (off the 5892 reclaim provided here/in newsletter). We hit 5907, then 5915 just now. Lock in gains, let a runner go, any more is bonus today.
5930, 5938 if ES wants more. Sell only<5892
Adam Mancini@AdamMancini4
I've warned hourly not to overtrade since its OPEX & its clear why in #ES_F. 5892-5902=chop. 5892 has been an ATM machine, with the 5892 reclaim long playing out overnight/this morning as per ystds 4pm newsletter. Weaker now. Must hold to keep 5907, 5915+ live. Dip to 5878 below
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It took a little time for price to get warmed up today in #ES_F, but we are finally getting our move. 5878-82 was todays first target. Hit, and we spent 1hr there. 5892 is today's second, hitting now
Next up is 5902, to backtest yesterdays breakdown point. Protect those profits
Adam Mancini@AdamMancini4
Lvls are respecting well. 5878-82 was target from this morning and after hitting 1hr ago, #ES_F is still here. Its heavy resistance, lots of supply to chew through. Protect profits if long, let a runner handle more. 5892, 5902 next. 5866, 5857 (leg down below) are supports
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@AdamMancini4 Adam, one question, does the ES move only based on purchases and sales, of it, or based on what happens in the stock?
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