is that a serious question? 2 months without a losing day, 4 consecutive months of ~10% gains, currently all of 15 dow points underwater...and you're asking if it's "time to change this"? patience.
For me the range bound model works through the summer well, today seemed like a day back in July somewhere, so thats what I played. I'm still not keen to hunt for trends/breakouts despite it being September.
There's what I assume is a mistake in the IB quotes this morning. For the past 45 minutes I've been watching it, and the DJI is showing at 9500, but the YM is showing 9531-9535. This has not been static: there's been a range from 9499 to 9508 in the DOW and the YM also has been moving around. But the TV (station to be unnamed) is showing the DJI futures to be up 9 to 9530. So, it seems to me that the DJI quote on IB is incorrect. Big tease! DJI futures are going up as I type. Now, up 12.
today is first time in a long time with the potential to hand me my head. yesterday's positions will be covered sometime today, no matter what.
if you can't reach your covers/target and we go higher , do you consider to scale in another or more batches, or your MMgm. rules say: no way till you close your open positions? fyi today pivot ym 9476 Thanks
It's a calculation based on prev CHL (western pivots) it gives you levels often used by pit traders, just another way to plot R/S on your chart http://www.stelaronline.com/resource/pivot.htm here is a free calculator