Not that it matters (don't mean to pick nits) but by my calculations daily pivot is 1454.50 which is the exact high print so far. Kinda made me go, "hmmmmmm" Spectra, if not the longest certainly the best (great info and major efforts made to keep the tone positive)
This is a great point, ideally you would ride a scalp into the longest time frame. Each trader has to define what is a long time. For example, I went long GS early and while sitting thru the drawdown was unpleasant I was confident in my position. The whole trade was 20 minutes; felt like two years. A newbie can't handle this kind of heat and usually will exit just before the market reverses. That is why system trading, meaning following rules is a good idea.
Wave, how long be long? You think we retest 1455? I've also got some overhead trend lines coming together about 1450 that could possibly be resistance. It's nice to be non-wrong, but I'm a little fuzzy on how long being long will continue to be non-wrong. Well, looks like it didn't stop at 1550.! Having a little resistance at 1451.75. I'm seeing an RSI divergence ("grail") suggesting we may run out of steam soon. But I'd love to see it run some stops at 1555 first... EDIT: How 'bout dem bulls? Nice work, beasts!
Oooh, that could be fun! I love the smell of buy stops in the (late) morning. EDIT: YES! WAY TO GO BULLS!!!