Short

40 MES Getting Short

Updated

I'm looking for ever opportunity to be short in this market after a large run up last week. Taking this newly created breaklevel at 4370. Hoping it respects that breaklevel and continues downward. Putting my stop at the next breaklevel above at 4374.

Note

Reevaluated my stop. Think its best a point above VWOP to let this bounce take its course. Still think we are going down to 4344. We shall see

Note

Ok I'm short

Note

Moving against me but all breaklevels are tested below and I have VWOP and an untested breaklevel above me. We shall see.

Note

UGH coming to this untested breaklevel. Hopefully it holds all I have above is VWOP. Is this a move back to POC??? I hope not.

Note

Dow and NASDAQ battling their VWOP. Fingers Crossed.

Note

Trends are hard to break!!

Note

Might be taking a full loss on this one. Fingers Crossed.

Note

NASDAQ Above VWOP. Uh oh.

Note

Doesn't look good :( I guess the market isn't ready to give it up yet.

Note

Was this just the bounce retracement of that 30min Breaklevel? Could Be...

Note

15 points on the dot

Note

Still battling VWOP. Will it give it up?

Note

First time this move up hasn't gone parabolic. Might be a reasonable place for it to turn around??? Or just linger here longer??...Or just a break before continuing up?? We shall see.

Note

Still battling VWOP...Who's gonna win this battle..POC got lowered. Just above WVOP. WIll it just linger here the rest of the day or will they give it up??

Note

I'll say it again. Trends are hard to break. Doesn't look like it wants to give it up yet.

Note

Been at VWOP for almost an hour

Note

It just feels like the bulls will give it up if they keep getting rejects at VWOP but what do I know

Trade active

Still in the trade. Stop above the breaklevel at 4384.50. Might have to take a loss if they don't give it up in the next 20 minutes.

Note

Theres a 15 min backside and a 30 min new breaklevel below that could give some resistance if they DO decide to give it up.

Note

Dow and RTY look like they want to give it up NASDAQ is holding on tight

Note

If NASDAQ gives it up we could see a large move down. Fingers Crossed!

Note

Lets see what happens at the 10 mins till candle. Algos might kick it into gear...

Trade active

Not a lot a hope for this trade at this point. Will have to cut my losses...Unless the trading gods throw me a bone lol

Note

Back to POC...

Trade closed: stop reached

Stopped out. Full loss. You win some you loss some. This one was a loss. In retrospect the breaklevel I took could very easily been a test of the 4373 breaklevel so wasn't a strong level to be going counter trend. Lesson learned. The fact it was fighting the lower side of WVOP for over an hour gave me hope to the downside but in the end it didn't give it up. Oh Well. Traded a dummie eval account o I didn't put my normal accounts in jeopardy with the horrible price action today so I can't be too upset. That's what this account was for, to trade horrible price action and not affect my gains in my normal accounts. Tomorrow is another day. Looking forward to it.

JonathanDSmith

Also on:

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.