A lot of times the futures chart signals something that is not on the cash chart and you can get it trouble. At the very least, both futures and cash charts need to be looked at simultaneously
Took +10 on half of my short. Stop at 2660 on remaining, average price with early morning adds was 57 on the button. Profit target on runners is 2610, but will look to exit and possibly reverse 38.75 to 41 depending upon T&S.
I hate attributing one thing to a move (because that’s mostly CNBC bs), but the Russell 2000 is beating to the dollar drum, whereas a string dollar is bad for multinationals.
one thing to notice on one minute is recent pivot highs made at 2648.00, unless a close beyond happens, chop continues. For me "closes" are important in TA as shows how market perceives strength and direction, whereas breakage of highs/lows means little, it entices those who get nervous of missing moves to get in early. So am looking for closes beyond most recent pivot to show direction. I am most likely one of the few scalpers that use a very long term sma for trend as it is over 100/slope and the 25sma for showing when to take trend trades, but I prefer to always take counter-trend as I have gotten decent at my patterns and I always think in terms that general public is usually wrong. Generally doing automation as gotten too old and now eye needs cataract surgery as of yesterday as told. But have new system and done all the back testing and have to forward test live to see if fruitful to have automated, so far it is doing exactly as backtested with min losses so long as I remember all the damn rules, problems of age-can't remember as when a younger man. Yea, you either identify you not the man you once were and take needed steps to continue in different way or stop trading which I don't believe in retirement. Long 44.00 triple bottom PS 44.25 dumped half at 46.00 Had triple top and rode down for few "Handles" lol H&S are also very strong patterns, I don't car at all for doubles unless monthly. PS 46.75 & 44.25 stopped out of quarter position at 46.75 and last quarter at PS 44.25 in case that is bottom. Am happy made profits on 3/4 of position. What it is all about, getting in when odds favor low losing percentages, get the "BE"+1 as quickly as market allows, dump half as makeable amount and have runners for homeruns, life is good.
Good observation. I have been playing the RTY correlation for about a week, as USD turned. The dollar, interest rates, and capital flow are pillars of how things work.