{"id":660,"date":"2020-07-12T21:41:54","date_gmt":"2020-07-12T19:41:54","guid":{"rendered":"https:\/\/market-and-us.com\/blog\/?p=660"},"modified":"2020-07-12T21:41:54","modified_gmt":"2020-07-12T19:41:54","slug":"market-is-caught-between-trend-lines","status":"publish","type":"post","link":"https:\/\/market-and-us.com\/blog\/market-is-caught-between-trend-lines-660\/","title":{"rendered":"Market is caught between trend lines"},"content":{"rendered":"\n

You’ll read this week about what lines were most important<\/strong> for me and what moves are possible while the market is caught between trend lines:<\/p>\n\n\n\n

Market Ideas<\/h2>\n\n\n\n
\"\"
ES, daily<\/em><\/strong><\/figcaption><\/figure>\n\n\n\n

As you read last week<\/a> I underestimated the importance of the counter trend line (yellow and dashed; yes, I added some annotations for you!) and I overestimated the channel<\/strong> (in bright blue).<\/p>\n\n\n\n

We didn’t broke to new highs but also we didn’t stay in the channel. Now it’s difficult to predict the following move. We have at least 3 possibilities:<\/p>\n\n\n\n

  1. Break above the counter trend line<\/strong> on Monday or Tuesday as continuation of the strong close last Friday.<\/li>
  2. More sideways price action<\/strong> before breaking above. The counter trend line was always a strong resistance during the day trading sessions.<\/li>
  3. Back to the channel<\/strong> to the top of the range box.<\/li><\/ol>\n\n\n\n

    In this situation with market being caught between trend lines we have to wait for the start after the weekend. The strong move upwards on Friday<\/strong> could lead to higher prices, so this would be the only signal for the next days.<\/p>\n\n\n\n

    I would wait for a clear close<\/span><\/strong> above the counter trend line or back in the channel to base trades on any prediction.<\/p><\/blockquote>\n\n\n\n

    Of course, I am still waiting with new long term positions at the moment at this level and the swings also didn’t change last week.<\/p>\n\n\n\n

    Futures Experiences<\/h2>\n\n\n\n

    The futures results are looking a little boring:<\/p>\n\n\n\n

    Last Week:<\/strong>
    \u2022 Paper account: +$30.52 (2 green days, 3 days not traded; MES)<\/em>
    \u2022 Free approach: +$12.90 (1 green day, 4 days not traded; originally traded in ES as +$129)<\/em>
    This Month (June):<\/strong>
    \u2022 Paper account: -$87.36
    [all amounts after commissions and fees, live account still pausing]<\/em><\/p>\n\n\n\n

    But I didn’t spend lots of time in front of the chart but the performance is positive. And every trade I took the last two weeks was a winner or at least break even<\/strong>. I am happy with my picks.
    And I am also working on more automation<\/strong> – for the upcoming vacation season – and to find and improve more clear rules for my long term investment.<\/p>\n\n\n\n

    Next week I plan to trade more<\/strong> – even though I already have a lot of other tasks to do – and to get some more returns.<\/p>\n\n\n\n

    \n\n\n\n

    Thanks again for listening my thought!
    Enjoy the trades, life and the sun and please, keep healthy and happy!<\/em><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

    You’ll read this week about what lines were most important for me and what moves are possible while the market is caught between trend lines: Market Ideas As you read last week I underestimated the importance of the counter trend line (yellow and dashed; yes, I added some annotations for you!) and I overestimated the […]<\/p>\n","protected":false},"author":1,"featured_media":668,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"yasr_overall_rating":0,"yasr_post_is_review":"","yasr_auto_insert_disabled":"","yasr_review_type":""},"categories":[5],"tags":[121,13,173,141,113,30,34],"yoast_head":"\nMarket is caught between trend lines - The Market and Us<\/title>\n<meta name=\"description\" content=\"I added more annotations to the chart of the market to show you what scenarios are possible. 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