Yes exactly. On trend days this holds well. Days where the dow is weak S&P strong it can get flaky. Assuming a trend is in place if they break...
I use Ym on trending days Long to hedge my shorts and they have a good corrleation with the ES. Especially on trend days. Almost one to one.
I started @ 1324.75 which was previous hi. I had about a 2.00 pt gain, didnt take it. Since they broke to the upside @ this level I hedged...
I just added, and now net short. Still have long just in case of further upside.
I had a gain and try to hold for more lol, now hedged here one to one, Ym to Es. Barely taking any heat, although I know that could change....
Thanks, I was wondering what your thought process was here. I jumped on ym long as hedge and plan on making an add to my ES short. Just waiting...
Do you have a target for your cover? Or are you going to hold this one if it doesnt reach 1328.50.
Shorted 1323.25 covered 1320.75. Going to wait for the open to see the rxn to jobs report.
Romik, Good read there, nice trade bro.
The market is looking like it is trying to stablize before the FOMC meeting May 10. I'm sure we will have a good indication next Tuesday on where...
I'll be the referee here. Both of you take profits during chop and dont try to ride too long.
With the ES, one problem for me anyway which prevents me from holding trades too long is the velocity @ which the trades come in the money. One...
Yes the fed is data dependent and the data is certainly strong. It doesnt show any weakness.
1318.50, 1319.50 and added one more time when it started to drop @ 1317.50, covered @ 1314.75. It felt horrible around the 1317.25 area, but...
I dont know what time zone you trade but 7:00-7:15 pacific time is when programs usually go off. You could see it in the price action, straight...
Done for today. This type of day is my favorite short set up. Gap up followed by program buying which couldnt make new his. Best day so far for...
I'm done shorting today. Don't want to get greedy like yesterday. Its too close to that 2nd level support pivot. S&P nice move today, dow...
God almighty you guys are good at riding winners!! I covered @1313. Still hungover from yesterday. Side note bond yields keep ticking up (5.16%)....
Nice work on that trade. Yesterday was just plain dead and price action and volume made that clear.
Lack of volume almost always favors bulls. Covered for scratch today. Can live with that. 1317.50 entry and cover. Fomc May 10 so there should...
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