Retraces are welcomed this is precisely what I was hoping for after selling nearly the highs. Buy the dip just like I did.
So I was watching the ES action after the bell as things were settling into the 1273-74 range then in the last few seconds whoosh...70.5..... strange ...so I checked the 1 minute candle and yes in the last minute of trade with HUGE volume down almost 4 pts...a bit unusual? Usually there is short covering, esp going into the weekend causing uptick rather than down. anyone want to venture a guess? rumor? innuendo?
you picked a top and a bottom,you predicted a top and now a bottom,right or wrong,you put your trading opinion out there,same as the rest of us,bulls and bears,now if we can leave the slaggging behind us ,,this journal will improve
There is a world of difference between picking the bottom of an uptrend, retracement, and picking the top of an uptrend, therefore, I do not agree with your assessment. I believe Nexen felt comfortable selling at new highs he did not try to pick a top. However, he is now trying to pick the bottom of the retracement. Market remains bullish for now and until proven guilty this is yet another retracement and not reversal. I personally think he is a little too early but I don't know if he is planning to add or where his stop is for now. I do like the premise of the trade for now as I see massive support at the high 60s and mid 50s. NAD
For weekend viewing, Don Miller trading a 75K account during the FOMC: http://donmillereducation.com/journal/trading-after-dark-the-pilot-episode/