Trade: Closing ES Long

A good run

Hello everyone,

We have had huge success in the ES long thus far:

The time has come to derisk and wait. I opened the trade here and am closing the trade here (see yellow lines):

I laid out the positioning unwind here. Here is the deal: we don’t have a macro driver for the selling right now but we could price a much higher premium in positioning. This means I am closing the trade here and will likely reopen it as the risk reward improves.

Keep a close eye out because I will likely reopen the position. For now, I am neutral on equities until positioning unwinds more. The next trades will be shared exclusively with paid subscribers. I appreciate all the support and I hope the research is adding a lot of value to you.

This is global macro