Out at 1196.25 +1 tick This is my standard strategy, if trade goes against me more than x ticks I am going out close to breakeven /if possible and trade at this point is not running quickly/
Yes, however the down-sloping trendline (or lower chennel) is what counts here. I'm more than pissed that I missed this one. It's soooooo obvious!
Not every down day is a SDD. First 90-120 minutes down, 3 hours sideways, another step down into the close is how it should proceed. Yesterday was pretty classic, except the 2nd down came a good hour later than usual. But the afterplay went according to the book, going long at the cash close paid off nicely...
if you drew your trendline more accurately ...1187 was the bounce point, there is a high probability pattern of rallying 100 points off that level.