I've exited March contract at 3927.00 for gain of 12 pts and I have entered June contract at 3959.50. I will look to reevaluate at 3800.
The upper boundary of the megaphone is 4040 area cash so we're just a little over a hundred points from reaching there. Good news is that the boundary decreases a little every day. This is a massive handle on the cup.
Looking for support in this area for a move towards the HOD and possibly a new HOD on the day. If we pull back to 40/45 and it doesn't hold, we may close yesterday's gap by end of the session, i.e., 3889.
Giving up the 50 was not ideal for the long side, so the bull scenario for today is weakening. Not shorting this yet, though. Breaking the LOD should still give ample profit opportunity, so waiting for that first.
my hunch is 3920 later on. Although will likely just watch now. Managed to recover a dodgy trade earlier to make today slightly green, and had some extrmeely good days recently (3-4 +50 point days!) so gonna sit this one out
Structurally, trading above 43 is unlikely for today's session. Could happen, but unlikely. I'm trading more conservative lately, so I'll be happy if I can take 20, I think. Maybe even 25. But there's really no support until 3916 and I'm not sure that'll hold either.
Covered at 30, for + 10 on a trailing stop on that spike off the current LOD. We came close to a support zone (3915/16), so I decided to take at least some off the table just in case, but looks like I stopped out too early. I don't think we'll close above 43, though. Most likely 3916 and maybe 3989 finally. It's just a tad too risky overall here, IMO, so calling it a day.