ES broke through our 240min 4200 demand level like a hot knife through butter. It is currently bouncing from a level of support. The next level to watch is 4165.75 which is the next level of demand, this one is closer to the Swing Pivot Low, which gives it better odds as we play the edges of the swings. Keep in mind that this level is huge! Preferably drop to a 30min chart to mitigate risk or use a confirmation entry once price starts bouncing from the level. I will be expecting to take this level once I see price leaving the level. I will drop to a 30min chart to mitigate risk and then drop to a 5min chart and look into price action to activate my trade once price gets down to this level.
Entry: 4165.75
Stop: 4139.75
Target 1: 4213
Target 2: 4245
Target 3: 4270
Entry: 4165.75
Stop: 4139.75
Target 1: 4213
Target 2: 4245
Target 3: 4270
Trade closed: stop reached:
STOPPED OUT.
How you handle your emotions is everything in this business. If there was not any risk involved in trading and investing then trading and investing wouldn't be as rewarding as it is. Not just financially but psychologically. Remember that to be able to time this markets you must
1) Have a proven system
2)Maintain confidence in the system (regardless of the outcome)
3)MASTER YOUR MIND
4) Show up and take the trades
5)Stop outs and failures are just learning opportunities
How you handle your emotions is everything in this business. If there was not any risk involved in trading and investing then trading and investing wouldn't be as rewarding as it is. Not just financially but psychologically. Remember that to be able to time this markets you must
1) Have a proven system
2)Maintain confidence in the system (regardless of the outcome)
3)MASTER YOUR MIND
4) Show up and take the trades
5)Stop outs and failures are just learning opportunities