Yes, I agree....the key to success is to recognise when you are in a sideways market and stay out with the trend following methods. A flat market is time to go fishing!
I am going to be looking at NQ today. Maybe there will be a nice trade or two? Right now I am just looking at the reaction to the 8:30 reports. I have no bias for today at all.
I use the CCI indicator available on most charts with a setting of 30, when the cci crosses its 0 line this indicates an exit. mk
Today there were several nice long runs. But it was a very nervous market for sure. This was a nice afternoon trade. Notice that the stochastics crossed before the EMAs crossed. And the exit was when the price crossed back over the 5MA line. Today was very nervous even though there was more to the run, it was prudent not to stick around. This is a 3 minute Don Miller style chart.
This was a nice trade in the morning. Notice it is a 3 minute chart with Don Miller settings though. In on the engulfing candle, out on the doji.
Last 30+ today I did miss a very good one, crossover of the 5/15 on the 13min before the cross on the 1 min. Was a nice little bounce ... too bad I missed it.
Did you step up to the plate and take advantage of that wonderful spike.....money to be made on both sides of that MOUNTAIN No Chart necessary to show that one.
Good morning campers. Early morning on ES the volume is very light. There is no real direction this morning. If there is something out there to trade, we plan on trading today.