I agree. I was just a little annoyed that people who are bearish are hanging on to any little thing that could conceivably bring the market down. The event is a tragedy but in no way affects the broad markets. I think the market (mainly the Nasdaq) is being irrational with how it just keeps going up and up, but I'm not trying to fight it or calling tops. The only way I'd play the short side is by shorting NQ vs ES at 1:1 or against the Russel2k once it comes to CME. Other than that, longer term shorts on equity indices is a dangerous game imo.
Its very difficult to read this chart since its been downsized. Are you able to post a version with more resolution? The entries and exits are pretty much lost.
1) I draw out pivots based on common turns(peaks) or valleys. It stratifies the market. 2) I play mean reversion at the higher and lower end pivots or support and resistance. I force myself to place the trades. 3) Every trade has a stop loss 4) Have other monitors and platforms that watch other indicators and markets. Some platforms have better indicators than others. 5) Use global pivot, meaning if price is above that global pivot I try to stick to entries that enter the market going long. 6) Use a auto trendline creator and also manually draw my trendlines. 7) If I believe strongly in a trade, I will re enter after stop loss is hit at fixed intervals. 8) Daily loss limit, if a stop loss is hit a second time consecutively. Than I am done for the day. At the periphery it only hits once usually. 9) Try to judge if it's a range expansion market or will it try to stay within the stratification levels. 10) Various levels of segregated price waves. The auto trendline creator picks up when a certain resolution of price is broken and generates a signal. Only the signals that are proximal to a stratified level are taken. Price usually goes from one level to the next, so profit targets end up being at the next level. Sometimes profit target can be 1 tick or 4 or more points.
Worksheet Sep Futures Short Term Events(today) -- ECB 8:30am EST -- Comey Long Term Events(weeks) --FOMC meeting
Plenty of movement on NQ today. Just wished there was more volume in NQ.....sometimes it makes fills difficult. But ES starting to pick up. Maybe a Vix of 11 would make it worthwhile to scalp once again !
NQ June and Sept volume around 200k so far...very tradable. It is running fast this morning so have to be quick on execution.
Didn't say it wasn't tradable. Have a tough time getting filled sometimes on over 10 contracts. Gotta stagger them at different price levels and thats more work than i prefer when need to be fast.