The 10:40am bar close above the 20 EMA produced the kind of follow thru to be expected in a reversal. I guess the pending inventory report subdued the previous close above 20, although that one still had some upside before pulling back. My friend Bighog alerted me to this strategy a while back and I've been watching it a lot lately. It's a very good signal overall.
could not beleive myself, I rode 1point, the hard stop thing really can takes my emotion away. but stopped out my NQ too early, bought NQ at 1935.75, trail the stop too tight
That's a strong advantage of a hard stop, and the stronger your opinion of where price will go, the more important it is to have a hard stop, IMHO, because there's nothing worse than price turning against your opinion in a big way and there you are without a real plan.