Who doesn't? I find that ES trades very technically, but tends to have its fair share of 'false' moves and quick reversals/snapbacks before resuming the original direction. So, as a trader you need to come to terms with if you want to sit through deep retraces swinging for larger moves or if you'll scalp the smaller moves or even break up the larger move you envision into parts. At the end of the day one simply needs market knowledge of the market one trades in and a deep understanding of how it moves most of the time. As a trader this can be exploited. If the market typically snaps back after a break; buy the break. I just feel that this tendency have become even worse in the last years and was wondering if anyone felt the same way or even have research to support it.
Any of you have open positions right now? Watch 8:30 EST, don't get blindsided one way or the other when the monthly jobs report comes out. Seems they are attributing an inordinate amount of importance to it this time around. More noise, but it will trigger a bunch of stops in both directions I bet.
WhaddaWord! I wrestled in high school. And when I say "wrestled," I mean outramural, and not intramural.
Best guess here is that market will begin creating a short term ceiling at 2740 area . We would need to fill the cash gap at 2739 during that scenario. Gaps don't have to be filled of course.----No reason for me to be long here.