Maybe add a contract above 55/56 if momentum picks up. My statistical model says range bound today and I tend to regret fading that. There's a chance we can start ripping on a new HOD, but most likely suck in some late longs and drop back in range. I'll stop out B/E and re-enter if I still like the long side (probably).
Stopped B/E. Looking to re-enter as long as the range low holds and momentum does not pick up to the down side. Let's see if I can get in at a better price or not. Working a buy stop above market. We could definitely roll over here, but shorting today seems risky.
Got back in at 47.50, but will stop out for 1.5 points or less. Rinse and repeat if stopped. Maybe back in at the same price or lower. Higher time frames look ripe for a pullback and the statistical bias for higher is not very strong, so no need to be over-confident and use too wide of a stop on this one.
Running new Algo with a PF about 3.5. Averages about 2-4 trades a day and 4 point/day. MAE is about 8 points. This week: Paper-Live for Live testing-debugging Next week: Live on Ironbeam-Optimus with CGQ. Will report weekly results. Still need to find a BACKTEST ES data source for 5 second+ resolution that is reliable. Would be great if there were a "continuous" chart so I don't have to stitch it together every 3 months. Any suggestions are welcome.
NQ wants to go higher, but ES stuck. Assuming we'll churn a bit before finally staking out a move, but quite possibly not a larger one today. Inside Day definitely possible.
14.75 point RTH range. The smallest range so far this year is 23.00 points. Would be odd if we don't get a pop above 56.25 at least. I'm sure we'll see it.
I specifically meant the drop that started at 14:03 or so today. Uncharacteristic for this kind of day, IMO. A drop which I'm sure many sold near the low. Instant recovery.