My sell limit @ 1319 was filled just as I had finished preparing dinner. +6 points My biggest winner by far this far in my career. Congratulations are due Trading the open truly makes a difference. Not only is there bigger volatility and more directional moves, but if you`re wrong on the first trade (happened today), you can usually get in and be right eventually. Yes, maybe I should have exited @ 1317, but I did write that this was my minimum target. 1318,25 is the pivot point from yesterday`s cash session. Yesterday`s high was @ 1318,75 (cash)/1320,75 (RTH). 1318,50 was a R10 move from the gap fill @ 1308,50 (close enough). When we reached 1317 that fast, I decided that I was willing to get paid even more in anticipation of testing those higher levels. I have no idea how many times I have trailed a stop or taken a premature profit out of fear and missed out on a great move.
Out half +2 Stop moved to 1314.25 Order to sell rest at 20 as I do not think 28 will be hit this late in the day.
Apparently, it doesn't have to be. 2 hours after I posted the zig-zag comment, we are back where we were at, of course including the up-down-up-down... P.S.: Technically it wasn't just a gap down, because we dropped 5 pts from 9:40. Not a huge move, but huge downmoves are not allowed anymore...