yes, my oscillators also pointed this as overbought there, now comes the question how to optimallly manage this trade ... that's what I don't like about overnight positions ... in my daytrading I can always follow what happens before my eyes, during the night anything can happen ...
Kinda cursting today: had no idea the golf market would be closed for good friday now I got to wait even longer with all that capital there tied up that I'd prefer to use for scalping eurusd ... ah well ... Here's a picture of that trade.
Only day trades I take overnight are on the 60 minute charts and can set hard stops. I don't swing trade cause the risk is the same if I took long term, so if I get a signal has to be same direction as my long term direction, in which case opening moves have to be hedged. Only futures trading I do without much hedging is day trading and there have been times where I hedged that as well ie going short knowing massive support nearby but has been tested a few times before, so I have taken Debit spreads just in case in ES.
I am on cfd's ... I am still learning ... or I'd rather say my learning process has just ended last week .. going to be buying some silver too ...
it's clear to me ES is not going down yet, but I understand the concern from some people. Someone asked me about ES and I did a quick glance and I became negative too ... then I did a further study and told that guy to sell his spxu (short spx) at market on monday for a small loss. Het had bought over 200.000 USD of them ...