Leaving this in the background for a bit with a B/E stop. Putting in a limit sell at 56 for now. Assuming this was the LOD.
Waiting patiently here. If we take out the LOD - I'll be looking for that 30 level to hold for a new long. One of these days I'm sure we'll see a rug pull that have everyone surprised, but probably not today?
Caught this trading bug like so many did when the covid lockdowns had us stuck at home and flush with cash. Spent a few years going down the youtube and twitter guru rabbit holes. Then I read the book Flash Crash about Navinder Sarao and I had a kind of "epiphany" and realized the only way I might make it at this is to figure something out for myself that I can feel comfortable with. I'm only now at the point where I feel I can give it a solid go. And I do not mean to imply I am at all trading like Sarao. I figured my own way and I know I could never do what he did. NQ is too much for me. It really is seductive though. I look at the chart and I think "look at all that money I could have made in just a few minutes." Then I actually put a trade on it and I immediately start thinking about all the money I could lose in just a few minutes lol. You are right. I should stick to one instrument. I'm going to stick with the ES.
Stopped out B/E. Looking to re-enter in this area or around 30, but won't post the trade. How about MNQ? There are many over the years who've claimed that NQ is an easier instrument to trade which offers better R/R on average. Personally, I'm fine with ES as it's what I know fairly well by now and I feel it's fairly more predictable/orderly than NQ. If I were starting out all over again I would probably consider NQ/YM/RTY instead, though. Anyway, since you do well with ES, why change a winning recipe.
Last week ES closed at 5536.50. So far this week is inside of last week's range. Maybe they keep her tight with a close near last week's close?
My guess is we'll move back up to 5550 by the Close as long as this 30 area holds. And maybe even then, LOL.
Already had an Outside Day on Monday. We can't see two in a week now, can we? Now, if 30 breaks and we actually sell of, that would be interesting. So far NQ is holding up pretty well. So, I doubt it, but who knows. Maybe some end of month profit taking before the next ramp (?) as July begins? A move back to 5550 seems most likely for now, but what do I know.
I was reading the market ok: shakeout at the news, then bullish, then retracement... but the last couple of hours, I'm clearly not seeing it. I thought we were going back up to 5570 or so... but so far... maybe some shorts closing in the last 30-75 minutes? Edit: Where's @schizo when you need him?