If you take any longs in these kind of downtrends, make sure you limit how long you hold on and keep it to quickish scalps only.
Yeah I completely agree, I haven't been holding anything long at all. It is crazy how much the movement and volume dries up when the lunch break begins. Probably a few guys trading insane size making up all the volume and pushing it around all session. They must all meet for lunch lol
Those questioning liquidity and size - 423K contracts traded as/of the lunch break in China. Also, the liquidity dries up over the break not because of "a few guys trading insane size" but because the cash market and futures in China are closed. In addition, the HK market with ETFs such as 2823 (140 million shares traded as of noon) are closed.
I was joking about the few guys thing, but yes definitely a ton of volume moving in it in just the first half
Yeah, I wondered if that was affecting it. I am going to start trying to use stops more instead of just exiting positions on this when the opportunity presents itself. I really debated on just setting a stop at 11460 or so after it was into the 430 area, but decided to just go ahead and lock the gain in when it moved against me a bit. Missed out on a much larger down move without any real significant pullbacks. Something to work on I guess
A50 hits limit down on -10% since session open. 10 minute "cooling off" period.. Gotta love it when the exchange rejects all of your profit targets.