Well said! JSSPMK, that trade was looking good, you were almost 5 points ITM, what was your target? Edit: thanks.
Today? Not real. You expected nearly R4 on first touch of upper booliger bands on daily? I can not find example when something such happened in past.
Should be an interesting auction @1pm eastern tomorrow. Yields have been trending up, larger spike today. More days like this would really make BB's lip quiver... 56 day Bill 12/08/10 25B 10 yr Note 12/08/10 21B 30 yr Bond 12/09/10 13B
Didn't have to be today. I don't look at R1-R4, just price levels. I know one thing 2% move intraday is quite possible & not rare. A move to 1,240 would have been below 2%.
Tomorrow that it is another story. R4 is very rare by ES and combined with touch of boolinger bands nearly impossible, I looked deep in past and did not find any example.
Had a similar trade from 1228.25 overnight, watched to 1235 and ended up with a point. Took 3 from 1227.5 to 1230.5 after probably due to the first trade nearly evaporating. A trader I know ALWAYS takes a fraction off at 1xrisk every time. Haven't learned to do it but he says it liberates him mentally AND lessens the psychological stress due to complete reversals.. A fixed target of, say 4 points sounds simplistic but having to establish targets for all out exits a pain to say the least.