ES1! No Trade — 2025-02-03
The objective is not to grade the P&L. It is to grade the decision.
Charts
Trade Review
2/3/25 $ES! Tariff news was a fakeout play. The news initially dropped and then they came back at 10:22am to revert the talks by putting them on hold after Trump twitted this out and the market reversed. The setup was in line with the original sell off and all the requirements were met except the return into the -FVG. We also had the 3m-IFVG breached and displaced through, so all of the factors for the setup were there. The market sold off before it return into the 1m-FVG and when it came back into the are the new was released and the trade shoot up in the opposite direction to the mid point of the NWOG. When the market bought, there was no entry setup at the low and all of the +FVGs were left opened. So no trade but the setup was there without a confirmation.
Entry:5976.50 SL:5981.50 Target:5961, 5952 Adjusted SL:
In the afternoon I was watching the 15m chart to see if we would return into this 15+FVG to look for a buy setup but price held between the NWOG(M) and NWOG(L). Finally price closed above the NWOG(M) and no trade setup came out of the afternoon session.
Chart Links
Cory publishes the working thesis before the session, not after — this Playbook and Trade Review are part of that same documented process. No signals, no highlight reel.
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