Just wired out some profits on Friday and now I cant even trade a 2 lot on overnight session. Ugh. Full maintenance margin on the overnight session is annoying but understandable all things considered. Gonna wail til Wednesday and see what happens. Been in long on a little 1 lot since this afternoon. Looking for 3400 based on weekly chart before weeks end. One of my favorite PA setups showed up on the weekly. Stop at 3270.
Only beer money lost. Small size, but would have turned out well in the event of a large drop. I got stopped out @ 25 overnight. I suppose I'm doing the cardinal mistake of trading what I think should happen instead of what's actually happening. 3350 looks like a nice short entry from here, though. But you never know. Maybe the market is pricing in a Trump victory and already started the rally. Maybe the market is pricing in a stimulus package which will come regardless of who wins. All this is why thinking and generally a flawed way to approach the market as you never can fully understand the why. Other than in hindsight. That's why it's only how that matters.
generally this pattern creates a lower high or triple top before breaking to downside. Will give good opportunity to take some profits off table in retirement accounts
This was an easy setup . The world has been negative and short for months thinking a crash was assured . If we sky over the coming days that’s your short entry for more of a short and hold trade.Money only follows movement and doesn’t care about events .
I’ve talked about this trade on several threads . People were positioned for a crash . We corrected 7-10% twice in the past few months . Most high flyers 10-20% off sept highs . If by a miracle Trump wins were at 3700 fast .
People who? From what I've seen - a lot of people seem to think that we'll see a rally in equities post-election. Myself included. Personally, I was not anticipating a crash. Just another leg down into election night. I still think that's in play. If we instead continue rallying from here - I'll be surprised and will write it off as another lesson from the market. And I won't agree there's anything easy about this. The market corrected 50 points yesterday high to low. So, not easy to hold a long either unless you somehow have a very strong conviction we put in a low already.
Yeah I agree either way I wouldn't call it easy. NQ pullback was even worst. For first time since I can remember for me personally, ES was a lot more clean and easier to trade than NQ yesterday. Had some really clean setups, so going to start watching it a little more closely.
NQ seems to get stuck under blue line for weeks and it might change if the breakout is real this time...