it was a good 3 days of trading, but today is very hard to read for me. not sure what's going on, was this dip the start of a reversal or just some crazy stop triggering...
this was not sell off, It seems Market makers play . It seems MMs see close of the day around 6425 ish at 13:30 EST so the price was around 6420 at 13:30 EST , there is one hour to go for 14:30 E ST oil pit close , so what to do for an hour time. MMs played small play create a sell off mode for $1 , let small guys do short and pull the oil up and let them cover short at higher price .
@IV No this wasnt the reason. The sell-off we saw while both equities and euro was going up was because of end of month liquidation by funds. And as expected floor traders took the market towards its high on the close. We were never going to close around 65.70. Infact if you take a look at closes of all fridays for the last 3 years and perform statistical analysis you will find that over 80% of the time we close around the high, make new high or lows but seldom we close in the middle
That was my best ever week. 15 trades (all on dow), 13 winners and 2 losers. The losers were about 40-50 pips whilst the average winner must be 80+ pips.
join us on the ES thread. I posted 10 ES points in winners today - and made some more that i didn;t have time to post. I've had one of my best weeks this week too :0 nice one.