On my part I guess you could say it was luck but my brother took the same trade long at 8:45 and target of 1270 was hit at 8:54. These trades have worked for me multiple times in one day. So it not out of the ordinary. Good question, though...
Also take note that my short call for today also worked so regardless if you missed the first trade hopefully the second trade will come into play that day. GL, 4re
Just for the sake of trying it I just took the same trade and got 2 more points off of it. So it has worked 3 times today. Each time it had a lot of momentum behind it and pushed it right through my target. To answer you question about 8:40, he had the order set but did not get filled on it until 8:45. Yes, CST is my time zone.
That's strange. Price spent eight minutes passing back and forth through 1268 before moving on to 1270. Why do you suppose it took so long to get filled?
Just talked to him. He didn't get to his screen and see it until then. He was placing an options order at the time.
If he uses a 2pt stop, he would have stayed in anyway, but it sounds like the trading gods were smiling on both of you this morning, at least as far as the longs.
We just use the momentum of breakouts is all it is. I have been using it for years in options, stocks and now eminis. But if God is smiling on us I'll take all the help I can get...
Do you use something to help you judge momentum such as the TICK? Or do you use your feeling for the pace of orders as they reach and -- perhaps -- break thru S/R? And if I understand your posts, you're not taking S or R per se, but waiting for them to be broken by so many ticks (you needn't say how many). In other words, you want to see price go THRU S or R. And I agree with your comment that if it doesn't go immediately, it probably won't.
One thing to remember is when I am planning my trades for a day I look to make sure that there is at least 2 points of movement between entry and the next support or resistance. If there isn't I move up or down a level until I find one. If I have a day where neither my long or shot comes into play I don't trade that day. It happened 2 days last week before Bernanke was having his speech.