I hope you the reader had a monster day catching that wild price action. I did not take the initial double rejection at ONH, PDL and I could not find a way to enter the market. The rally from 4175 to 4200 in the ES around 10.38 a.m further threw me off.
The ES bounced off the ONL overnight before making it back to ONH right after the open. I always have fundamental news on the back of my mind as a catalyst for price action but I let price do what it may before it gives me an opportunity to enter the market via my edge.
With META 0.00%↑ stock getting decimated pre-market and the GDP numbers coming in strong suggesting the economy is expanding amid a surge in consumer spending there was enough sentiment to send the market lower. But the rally in the ES overnight from ONL to ONH at open had me doubting my thesis. As much as I would like to believe I react to price, my mind still needs a reason to enter a trade - it’s a need for certainty even though the market is the most uncertain thing I have ever encountered.