Here's a little lesson on price action for all you noobs. In a RANGEOUND MARKET, it's natural to see price chop from one extreme to another. So I entered near the top at 75, expecting the price to come down to 57-ish. Unfortunately, price instead went up in the AH and I got shaken out. But, as I write, ES is back down to 72 level. I'm pretty damn sure it will drift lower to the anticipated 57 level by the time market opens or soon thereafter.
Your recent ES trade got stopped out. I guess you shorted ES again. The range is small (see my upper chart). I wouldn't stretch the Y axis (see my lower chart). Today, the European stock markets, energy, precious metal, bonds ... markets are extremely quiet.
The market's been stuck in a range, yes, but it's bound to hit 5K this week, sooner or later. So, IMNSHO, the way to play the range is to buy the dips. Selling the rips are riskier as it will eventually break out higher.
5K tagged. Main weekly bias exploited for now. Let's see if it runs or not. Long/medium term - there's plenty of upside this year.
@p0box4 I found the way!!! I'll change the reasoning for my ES level. I'll call it a FIB level, that way it will magically make it valid and a real level.
Oh you knew it would run to the extension, did you wait till it got one point away then bought? since it's such high probability and you knew where it was going. That's how you made your 1 point?