Basically, what we're looking for is an overall winning strategy and occasionally having a bad stretch but controlling losses and maximizing winners.
What's up with the last 3 days price action in ES/NQ ? Down in the morning, Up all afternoon....usually ending at HOA (High Of Afternoon). Any bearish news seems to be ignored.
That had been going on since like March of this year, a few days a week. It is when I came up with the idea of the "10:30AM" reversal meme, mentioned on one of these threads.
It's uncanny. The market right now is like that "Whack-a-mole" game on the boardwalk......you wack the mole down and then it pops right back up again.
That is a great analogy, over time. In RTH, the mallet comes down onto the price, it sinks from the blow, and then slowly rises back up.
It’s the qe that’s not qe. It’s been a couple years since we had this but same playbook and intraday pattern emerges since fed announced it October 11. Whatever it is the Fed is expanding its balance sheet and supporting and pushing assets higher.
How is this pattern new? Anyway, if you found a pattern repeating itself; exploit it. PS: Except for a select few periods over the last 10 years, I feel this market have pretty much always ignored bearish news.