tough trading for me. took a -4 there Not the right kind of 'chop' for me. There's a certain messy choppy environment where i tend to do fairly well, but this isn't it! lol leaves me up about 5 points on the day though, and green, so gonna call it here Will be able to watch the market tomorrow too, I think!
The opening price is usually a good sell zone on days like this, but the apparent strength + NQ fooled me.
How? I have been trying to trade higher time frames like you do, started off really strong but hit a rut recently, so its great to get peoples views.
When you say "opening price" LF, are you referring to the Globex opening price or the RTH opening price? Today those figures were very close with 5628.25 RTH and 5627.50 Globex. Do you track both, or do you find one or the other to have greater influence?
So I s'pose what was supposed to be a "V" turned out to be little "M" (for "meh"). Still I'm quite optimistic about a reversal tomorrow. First, there was no follow through after Tuesday's monster sell off. Each day we've made a lower low but no significant sell off. Then there are the long wicks and tails, which only reinforces my view that bears are really pussies at heart. They have no conviction.