Ah. Well, if this hinge plays out as usual, we'll turn and exit to the upside. Which doesn't mean that won't work either and we'll return to the hinge. But it's not even midnight yet so I'm not going to worry about it until tomorrow morning.
I could really get to enjoy trading for longer swings. However, I have no idea what I would do with myself during the morning. Golf more? I don't want to count my chickens before they're hatched, of course. And I know from last Friday that 50 points can evaporate in mere minutes. But waking up to being +40 points on a trade sure beats a sharp stick in the eye. I can't guess how far a pullback might go, but I can see that than that 48/50 having been R should hold against a test as S to continue justifying the trade, and 51 is the midpoint of yesterday's morning hours hinge. I will just have to watch and wait and see what I am able to see as to how other traders are acting as today goes forward.
Possibly. But take care not to micro yourself into inaction. For now the LOLR is up, and whatever support is to be found will most likely be lateral. This is due to the fact that any idiot can detect a new high or higher high. But when you get into trends and channels, the fog descends (as can be seen from a recent thread on the subject).
I am looking at the NQ Sept contract. Vol is relatively low. Is this normal because of rollover coming up?
Probably. If you're actively trading, monitor both and switch when the activity level shifts toward the new contract. Otherwise you may have trouble getting filled if you're trying to enter when everybody else is trying to enter at the same time in the same place.