“You must be shapeless, formless, like water. When you pour water in a cup, it becomes the cup. When you pour water in a bottle, it becomes the bottle. Water can drip and it can crash. Become like water my friend.”
Updated with a few helping lines I use on a daily basis.
+3 VS = +3 VWAP STDEV
-3 VS = -3 VWAP STDEV
HPOC = historic point of control
PDL = previous day low
PDW = previous week low
Session = previous trading session (Asia, EU, US) low
During long term short trends, PDL/PDW/Session would show highs instead of lows. The bottom indicator provides trend information...
ES closed the week close to 2750, key resistance that held all week after Monday's drop.
I will be looking for short entries close to VAH and 2750ish going into next week. A strong break of Friday's +3 VWAP STDEV (2751) would tempt me into longs, but I probably wouldn't feel great about it at that price until we shoot past 2755...would need quite a bit of...
ES got a nice bump at the end of the session due to some China news (I think). Not sure this will be sustained into tomorrow though.
Watching 2750 above which has served as key resistance all week. VWAP closed at 2705, and I want to get in long below, short above ideally. A strong bounce of the VWAP close or through 2750 will likely get me into longs now. Whole...
New monthly low today. Trying to get into shorts as close to VAH as possible. Will consider longs at VAL, yesterday's low and the -3 VWAP STDEV...or 2655ish below. 2752ish is the key resistance level to watch. It has held since Monday's US session.
Not a drastic change in support/resistance levels since yesterday. Still looking for potential shorts around 2750, although I might also take a stab at around 2735 should short momentum support it. Might consider longs at yesterday's VAL (2725ish) and around 2710-15, but I am watching the November low below that too. If that breaks...yeah...poor bulls.