This is clearly a contrarian, and potentially very painful trade. I'd say is best to play it with options - implied vol is at the year's lows and you will have limited downside on the position. But for those trading cash SPY, like me at the moment, here's my rationale for a short: Technicals: - We are close to getting overbought (Daily RSI is hovering around the...
Despite covering our NQ position we will hold on to the ES for a our second target. We still like the 2120 area. Stops have been pulled tighter just in case this move becomes a head fake. Lesson: manage your trades and don't let a winner turn into a loser!
We are getting closer to our second target. We believe we will see it this week. Nothing has changed on the management of the trade. Stay tuned.
ES is still looking good. We have not changed anything with our stops. If we see a good move to the downside we will adjust stops but we are still looking for the 2120 area for the next target.
Longs triggered in the ES. Like the NQ first targets were hit on Friday. Next target for us in the 2120 area. This has potential of being a really good trade. Stay tuned.
Da bulls. We are long per our last post. We have hit out first target Friday and have pulled our stops up looking to the 4400 area for the next target. The third target will be open. Read past posts...if you were patient you were rewarded on this trade. Stay tuned
If the S&P futures should continue bearish, we have a tried and true S/R area right around 1960 first, followed by a fib confluence around 1910, which has also been S/R in the recent past.
Market found support, now can form a corrective wave down....then expect another rally...
Bulls and bears want (IMO) a retrace up to 2050. Bears want to go short at a higher price and bulls want to break through the high from earlier this month. I will be glued to the 30 min and 5 min charts looking for longs.
I Just close my long position on ES H15. US market remains moderately overbought
I reinstated my short on SPY this Friday at the open, after riding the first down-and-up wave of the year. My rationale: Technicals: RSI divergence on since the early December highs; strong rejection of the Pivot point at the 205.50 area, 206 seeming to be the area of strong selling pressure. The market bounced off the Ichimoku Cloud top on Tuesday, but it seems...
You only have the past data plus what is going on now, that is the present to predict the future price action. So what you need exactly to be a successful trader?? - Well, you need the odds to stack up to pick the right direction of each trade. - System, method, strategy that generates big winners vs losers. - Be emotionless by having precise entry / exit...
SANTA IS punishing the bears for doubting him. The push is on and we are long from a 60 min pullback and trigger. We will trail stops. The target is the 2100 HAPPY HOLIDAYS TO ALL!!!!!!!
Day six of testing the 2060-2078 levels. when we will break the 2078.75 level, my first target will be 2100, second target will be 2118 and after raising to this new high we will test the 2140 level. Good luck!
The sisters ($TF and $NQ) didn't play along and we busted through 2 levels of support. Is this the top for the year? Hard to tell since we can run through the highs in a couple days. Looking at the weekly and monthly chart we would say there is more upside to come. So enjoy the pullback. We will look to short (very small size) on bounces and triggers. ...