IC, if you're going to trade long only and with a wider stop, you'll want to, at the very least, enter in pullbacks. Just my EUR 0.02
that's because the market is in what my dad calls 'mad mode' lol. They just go up and up and every tiny pullback is seen as a 'bargain' and then it carries on up again. Been that way for ages. Airwaves and a few others spotted it AGES and ages ago, as thus have been creaming the market everyday for months and months. No idea when it will end. I've stoppe playing the ES on my main account but am just longing it still on my smaller/experiment account. Good luck
Golden cross on the $SPX chart today... anyone short should think twice if the 10:05 candle hasn't already convinced you...
Picaso is correct. And do not worry, if you did not catch it in time there will another chance in short. Btw, one of biggest mistakes after my opinion is set trade open in advance. You need plan where you want entry (aproximately) and when the pullback is done and price is rising again you need purchase micropulback (3-4 ticks). That way you avoid situations that you are immediately under water on 90% trades like those that set the entry long in advance and are guessing how far the pullback will go. Same by shorting - you need short pops and dont be greedy if it is contratrend trade take profit quickly. Btw, it is way easier nail exactly the top by shorting (I speak about 10 minutes or hourly wawes, not about the daily trend). By days like today I am shorting just new daily highs.
waiting for the bookend to that candle around 88,is the golden cross the 50 day vs the 200 ,at the moment they are converging
get everybody long and reverse, quick call your grandma and see if she is long. The problem is that mkts are subject to fat tails usually on the short side. remember your stops, lest ye be long into a 5 sigma move.