Done for the day. I am happy, one of my top 10 profitable day trade sessions. As long as a W shape, I can run large volumes for small points. My year end target is still 4600, somehow will get push to this level. I have some MES accumulated over the last month, will sit on it.
And just what are you seeing? We're up 21 % on the year for no other reason than TINA/FOMO/money printing (as far as I can tell). The best years over the last 20 years have been up around 30 %. Maybe we can do that. Maybe. I'm cautious to the long side from here, but maybe I'm thinking too much. I still go long mostly, but I see risk up here...
Just seeing great momentum and no reason not to be invested. I don't worry about the reasons we're going up. I spent a lot of time refining my process this year -- trying to make it as "idiot-proof" as possible while still having a discretionary approach to execution. Most people get in their own way when it comes to the markets -- even when they know a lot -- and I know I have been as bad as anyone in that regard. Stepping back and seeing the big picture and looking to speculate rather than trade has been a key focus as well. From a short-term trading perspective, this type of market can be even more challenging, which is why I'm just trading with a broader thesis and with conviction about it until I'm proven wrong.
Nice IHS on the 30m should provide us with the 20 handle pop to take us right to the measured move @ 4550 on the Daily IHS that started this rip north!
43.25 Prints! .... close enough for the 2 Top.. may get one more exhaustion push to take out weak shorts but feels swing high/ double top is in place as objective came to fruition!