27.50 was rejected pretty hard on high volume, plus Uvol/Dvol is still almost 3:1. Also 27.50 was the exact 62% from yest. low to today's high. Also minor support with mid-swing point on 2-15 double bottom.
LOL. Not talking about anyone on here. Non-trading folk at the coffee shop, bookstore, relatives, etc.etc.
Like I said 80% chance I get stopped out. I did not like the trade from the start because on the majority of my winners I take very little heat. Could have covered at 31 for huge profit but I decided to let it play out even though the probability was against it. There is a reason I avoid afternoon trading as my win rate drops from 80+ to about 40.
I haven't traded ES in quite a while, but I went long 34.25 @ 3:35 pm ET for the big run up into the close and I have no idea how ya'll do it. Why does this thing move so slow??? It's been forever... Or am I in a permanent CL time warp?
Donna, skilled CL traders simply cannot afford to trade emini markets right now. There just isn't enough money on the table in ES to justify taking focus away from CL. In the not-too-distant future, that will change. There will be sessions later this year with intraday ranges wider than all of 2011 has mustered so far. But for now, Willie Sutton robs easier markets... go where the money is