For example: there was a tremendous buy signal on your chart at 10:37 that could have been ridden up for 6 points using just a simple trendline for stop out. 6 points is probably all that you can expect from a 1 minute chart. However, a person can then analyze 5 min charts and 15 min charts then to see if it makes sense to be in longer. In fact, those charts along with 60 min and 240 min should already have been reviewed to see if the trade made sense to begin with. If you would take a look at those charts you would see that long is not wrong intraday today. You could have placed a 2 pt stop and had a nice 3 to 1 reward to risk here. (Which is the bare min that you need in order to be successful).
I guess you guys are posting on the super-secret-black-ninja 2015 thread. $hit I'm still signing checks '2014'.
took half off swing trades +45pts. gotta eat some at 50% of the move. near term: 2047 magnet imo. out 2056.
Congrats to the longs who got in late Tues or continued to enter and exit longs Wed and today. Prudent Money Management is the edge in trading and it can be further juiced by trading with the trend. For you intraday traders, the trend has been up since Tues afternoon
Intraday trend remains up. Prices below 2030 would have me start thinking otherwise--or some kind of very strong signal on any timeframe 5 minutes and above could change my thinking. But for now, I am looking at 2030 as the price where intraday trend would change. As an outraday trader, I currently have a negative bias and will keep my initiation sell stop in place at 2019.75. I will keep you up to date if this changes.
Please elaborate on why you have a negative bias on the daily? I believe you've had that bias since the SPX was in low 1400's.