Since the Ant's fiasco, majority of the mark up has happened during the London session whereas NY and Asian session showing little interest in direction and volume. London session means covering big distance with just few thousand contracts.
I posted a chart last week pointing out the distribution which took place during the Ant's hype.
Biden winning, Vaccine coming. US indices are at an all time high and HSI is almost at pre covid levels.
When it comes to markets, something is very wrong when all seems good again.
Next few days are very important.
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Above post may be a bit misleading. What i meant was that distribution is not done yet so you can look to enter from the either end of the range, whichever comes first. Never trade from the middle towards top/bottom in a range bound situation but enter at extremes and at least take some if not all profit in the middle.
Really boring last few days. Hopefully some action soon.
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Didn't happen as expected but it's close. Break up looks to be more likely as of now.
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Everyone have their own set of rules.
If you are struggling to consistently make profit despite being a good analyst then tweak your entry and exits method a bit instead of focusing extra hard on analysing and indicators.
2 of the biggest possible reasons holding you back might be not giving your trade enough room and not taking profits.
One thing which can help with both of these problems is knowing if you are on the right side of the market. It can only come with the understanding of the market structure that you are trading. Takes time. Stick in there. THINK LESS, FEEL MORE.
For example, i went Long at 26233 last week and had a 100 point SL. Took Profit at 26431.
Again i went Long Yesterday at 26441 and had a 100 point SL. Took profit at 26630.
Both times, my position was small. I had a SL and i took profit even though further upside was likely. That was because, we were coming towards the end of distribution, market was extended and it could have come down any moment. I was never holding my position overnight.
This morning, i went short at 26893. My position is quite Big and i did not place a SL because i am fairly convinced that i am on the right side of the market. I have no problem holding this trade overnight and letting it run for few days.
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Nope. No Block orders
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Boring inside day.
As i pointed out the volume on the break of swing lows Yesterday, it is not a start of bear market but just a pullback.
Hoping for a selloff tmr.
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Suddenly came alive.
If you are on the sidelines or got out in time, although tempting, HOLD. It seems to be in a mood to touch 27250.
Early close in NY Today but S&P is nicely placed for a false break up.
If it reaches, close to 27250 in NY session, SELL with your eyes close.
Bro , good trAde this morning, for me I always influence by fear and greed and make loss es , this is very important to overcome in the psychology of trading.
Dec0der
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@iwillbeback, Brain is there to confuse you. Heart is there to guide you. Trying to use both at the same time will also confuse you. Shut your Brain. Surrender yourself to the Fate. Let your Heart show you the way. Human beings are always confused because they want unlimited things with limited ability of their limited senses feeding their limited brain in a limited life when Universe has unlimited treasures for us if we just Believe and let it go.
You don't have to be a computer genius or a math wizard to succeed in markets. Everyone of us is just one moment of inspiration away from turning their lives around for good. BELIEVE!!!
thanks bros,Nov futures will expire today. And I guess the index will close above 26860 this week
iwillbeback
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very boring day, but bitcoin make the move already, hope to gap down 200points tomorrow morning
Dec0der
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@iwillbeback, No idea if there is any correlation between HSI and BTC although looking at posts on tradingview, it seems like vast majority these days are crazy about cryptos. I will be going back to HK in January and may be look into trading something else as well. Bitcoin and Gold maybe.
ffaz
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Curious to ask: what would it indicate if there were block orders?
Dec0der
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@ffaz, On a minute chart, sometime you will see price bar barely moving but volume suddenly spikes. During acc/dist, it indicates an area of interest to which price tends to keep coming back. It was strange to see that at the top of a trap move Today so i just wondered if block orders are changing hands there but it wasn't the case.
All what i say is just made up by me and could be total nonsense in real world.
ffaz
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It makes the top at 272-27300 even if it crawls up with insignificant volume, as it has distributed a lot these days?