First trade I thought we were in the midst of a breakout to the upside, and I got in on a very small pullback assuming that the shorts were trapped. I was wrong. Second trade was a different kind of setup. But I gave up 'proper trading' a good year or so ago so don't listen to me. You may (or may not) remember me from this thread! I just trade small size as a hobby now. I actually enjoy it, but the idea of making a living out of it was something that I had to give up on after about 6 years of giving it my best, fulltime.
Checking in here this morning. Looks like we have had some good long movement for my position overnight. I will be monitoring as the day progresses.
A large portion of the real moves happen outside of Regular Trading Hours. Looking at the bigger picture is extremely beneficial.
My belief is that breakout trades need much larger stops and likely need to be held overnight unless perhaps they are being taken on the 1 minute chart. --Tight stops would be more in an oversold/overbought condition with fresh momentum.
Sell signals today should be looked at for profits of 2 or 3 pts only. If it goes farther than that, that's fine, but 2 or 3 is all that should be taken and then move on. ---Until a sell signal on larger frame presents itself.
If you took the short signal on the 1 minute chart at 2293.00, you may want to take your profit at 2290.25 here and re-assess.