@AdamMancini4 Have you ever seen a gap down this large? Can’t recall seeing one myself
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Ricky
345 posts
Last week had a volatile open (gap down & sold 180 points for 12hrs, then squeezed). Deja Vu open likely this week. Remember while ES loves to go "elevator down" for a few hrs & lose many supports (sell starts <6050), its often followed by a short squeeze after a Failed Breakdown
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@AdamMancini4 have you considered doing any video content? I believe you have a youtube video up from several years back, was informative IIRC
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The 5916-23 reclaim long continues to pay in #ES_F. I provided this setup multiple times yesterday here and in newsletter. Targets for this were 5938 (hit), 5951 (hit), 5973 (almost). *By this point, you should just be in risk free runners*.
After 5973 comes 5988, then 6004+
Adam Mancini@AdamMancini4
Its been a very straightforward setup/session so far in #ES_F. Starting at 2pm yesterday, I said that 5917-23 had to reclaim to trigger longs for today. It did at 4pm-6pm last night, and we're off. Let runners work 5938 was 1st target. Hit. 5951 2nd, incoming. 5973+ next. Dip<17
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@OnTheHooch @AdamMancini4 Though I do still think even the best/most passionate people can feel burnout, so I’d still be curious how he manages it
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@OnTheHooch @AdamMancini4 That’s a fair point. I imagine he’d say similar
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Incredible follow through in #ES_F: On Monday, I warned this week was all about 1 level: 6055-60 magnet. I was looking for a retest, we sold to 6055-60 exact yesterday, held
Plan today: Protect gains here, leave runner. 6075=support. 6088, 6100 next. 6075 fails, retest 6055-60
Adam Mancini@AdamMancini4
Yesterday, we reclaimed 6060 to trigger up, running to 6103 target. At 4pm yesterday (when #ES_F was 6095), I made it clear that we'd likely see 6060 magnet again. Almost here. 6060-55 to 6103 remains the range No change: 6074 must reclaim to resume up. 6060-55 fails, sell 6042
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@OnTheHooch @AdamMancini4 That makes sense to me! Ty. I guess I’m more curious if he ever feels burnout etc. I know me personally, if I traded my way to enough $$ to have passive income & quit day job, I’d probably feel some burnout & want some time off.
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@rickybudka @AdamMancini4 I think he's mentioned similar prior - a lot that have succeeded in something find joy in sharing that knowledge (and we're all better off for it!). Not my answer to make for him, but thought I'd offer my 2 cents.
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@OnTheHooch @AdamMancini4 Fair enough. Everyone has different goals though so just figured I’d ask and see what he says
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@rickybudka @AdamMancini4 People that are experts and strive for excellence at most things would go crazy just 'living comfortably'. Retirement isn't a good option, maybe in your 70s or 80s if even then.....
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@AdamMancini4 @AaronOldmoon @coleridge8264 Do you have different layouts in TradingView for higher-timeframe structures and then another layout for lower TF structures like in this image?
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After last weeks 330 point rally, #ES_F has spent this week doing what it always does: Building a flag. 6028-32 is res/target, and it was yesterdays highs. 6009=support held overnight.*Don't overtrade*
Plan: 6009=support. Keeps 6032, 6038, ATHs live. To sell today 5998 must fail
Adam Mancini@AdamMancini4
After CPI trapping, its been an organized day of price action in #ES_F: 6002 to 6028-32 would be the chop range as warned all day. I was looking for a run to resistance, we got there, based for hrs now dipping. Ideally, bulls want to hold 6009, 6002 on this to keep breakout live
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@rickybudka (we will go much higher than that obviously as the bull market continues but thats outside my frame of reference)
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Incredible follow through as yesterdays 5902 long continues to pay out handsomely in #ES_F: 5975 was target, hit to start the day. 5992 was next up, hit. 6006, 6031 next
As I've warned over and over, just trail those stops up until the dip hits. 5975 now 1st support to dip below
Adam Mancini@AdamMancini4
Yesterdays 5902 long continues to pay out massively and as warned since yesterday morning, nothing to do but ride #ES_F runners until we get a dip. 5975 was target & still here. 5992, 6006 next up. We get the 1st dip only when 5950 fails (perhaps after FOMC). Let runners work
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@rickybudka The macro orange channel resistance still which is at 6125 or so now
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@AdamMancini4 great little mini-grab around the overnight low that carried for a few points to backtest 55.
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After rallying to 5882 target yesterday, #ES_F spent *all day* at 5864 support. It remains the mid-pivot/magnet of a 2 week range, and we aren't done with it. Lost overnight.
Plan today: 5843-46 next down (major). 5834, 5815 if that goes. Must 5855 to rally to 5864 again, 5878+
Adam Mancini@AdamMancini4
Today, after we held 5865 then rallied to 5882 target, I tweeted "wrap it up" at 9:20Am & we can see why: Pure chop since around the 5865 pivot. We need volatility to trade. No vol=sidelines, or youll get eaten up. Bulls want to recover 5865-68 to re-test 5882+. 5857, 5843 below
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@AdamMancini4 @leeconey7 @NickYale1 Thank you! Still a lot I need to unlearn/rewire my brain on. Appreciate it
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@rickybudka @leeconey7 @NickYale1 100% technicals! fundamentals has no place in trading at all be it day trading or swing trading. Unless your holding time is over 5 yeas, no fundamentals should be involved at al
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Its been charting 101. Last Thursday, #ES_F built a textbook bull flag 5815-40. Breakout targets were 5858-60, then 5874 as written since Thurs. We just tagged 5874 exact
Plan: Let runners work until the 1st post-flag sell hits. 5868=support, keeps 5878, 5890 next. 5838-42 below
Adam Mancini@AdamMancini4
As per my 8am tweet/last nights newsletter, the 5815-5840 bull flag breakout target today was 5858-60, and #ES_F is taking it *very literally: Here since 10am. The breakout is in play as long as we are above 5840. let runners work. 5874, 5890+ next magnets uo. Sell only<5840
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@AdamMancini4 @leeconey7 @NickYale1 Do you consider fundamentals for these trades or also 100% TA based?
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@AdamMancini4 Adam have you ever tried using the different RSI "source" settings in TV? I am considering trying HL2 for a more balanced view/less dependent on candle closes, but would love your thoughts
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What we saw last night at 630PM was a classic Failed Breakdown (my core setup) - as per newsletter. We flushed the daily low ystd at 5734, trapped shorts, triggered up. This zone has tested/trapped below 15x in last 2 weeks
5772, 5786-88 next up if #ES_F wants. Same supports
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@AdamMancini4 @EyeMordor @Jerrythe_trader @rickybudka Very cool discussion about hidden divs, thanks!
I tried to find some examples - if I may ask: do we have a hidden bearish div on 45 min?
The price formed a downward channel, but RSI made a higher high while the price made a lower high.
It is resetting now though
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We continue to dip nicely in #ES_F. As warned at 9:20AM, 5783 then 5805 were today's NFP targets. We hit ~5805, sold. I then warned to protect gains *as any more upside today would be bonus*
No change: 5744, 5734=must hold, or we sell 5721, 5702. 5772 must reclaim to resume up
Adam Mancini@AdamMancini4
Today's NFP targets were 5783, then 5805 in #ES_F. We hit them, and at 9:20AM, I warned to protect profits as *anymore upside today is bonus*. Bulls did their job, and aren't required to do more Now we work supports. 5763 (weak), 5744-34 must hold to 5813, 5828 bonus live.
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@richness305 @AdamMancini4 should specify am talking about hidden divergence & would have represented good short at the highs this AM. For example on higher TF like 2hr-4hr it was a good bearish hidden div
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@richness305 @AdamMancini4 In general if RSI > than a previous high, but price is lower than that high, it's a bearish divergence. We got that this morning
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