I missed that action - was having a very expensive chicken sandwich - but was looking before to short at 73.60-80. However, I got blindsided by the euro (btw, nice long, NoDoji). 72.80-73.00 was a reasonable profit-taking zone, the subsequent break was way too clean (with euro up and ES more or less holding its ground). Now it looks like a short, but then again...
another leg down in the ES, if CL doesn't follow with a new low I think we'll see a bounce up to 72.50 instead.
Thanks. I agree, I thought the pivot off 72.93 was a great exit level and was right proud of my patience on that trade (my initial target had been 73.17 and I trailed for more). But I thought there'd be that classic CL bounce to re-short and it just crashed.
Looks like we were about to rally along with ES right out of the 9:30 bell, looks like weakness here though.
I've been looking for a place to go short for a while, but I just don't see one (without hindsight). Any ideas? Somebody leaning long from these levels? If we break 73.80 I see 74.40+, but I just don't see euro up to it.
What's so bearish about the euro, daily is on a strong uptrend HH, HL etc and today it has not even broken yesterdays LOD, in fact 12:30 was a nice pullback