Yes Coolweb..as mentioned in another reply we can expect a trend 30 % of the time or less so I beleive that the way to go is to trade as if the other 70% of the time ( non-trend, back and fill process) will take place......
Sold at 81.25 for 1 pt. profit. The price is close to the Value-range for the last 2.5 hours and I needed a win too.
Thanks guys for the suggestations. Actually today I had moved my stop to breakeven after the first hour. Will need to do some work during the weekend and see what other exit methods that I can come up with. I think the high for the day is in place.
I would also suggest switching to the higher volume month as Today is Rollover and you should really be trading the June contract....How does that affect the way the numbers are derived on a LONG TERM basis..? I'm curious as to how longer term high and low volume areas are "transfered" once we rollover to a new contract month...
I realised that I should have shorted June contract after i made the trade. Regarding volume, I'll respond later. Thanks.