Everything is setting up for a FULL SCALE BULLISH EXPLOSION higher in the U.S. based equity indexes. Experienced some holiday chop but get ready, the bull run is about to start. holding longs in the YM march contract. surf
What's up with the bluffing to create a persona that you are a wealthy, at home trader who made his wealth strictly by at home trading without the support of a firm? We all know this isn't true. Why not just admit you work for a trading firm or have other sources of income to support the lavish lifestyle? There is no shame in that! However, the leading noobs astray by the po boy made good strictly by trading persona is just wrong. surf
No idea how long it'll last or low it might go but YM appears to be trying to break down very near term.
Yeah, i see what you mean. i am bailing on this at 12998 ( on a full 5 minute close below) --- but still bullishly optimistic. 13030 looks like possible support now. surf
A couple of points, I would always wait for a pull back before going long, especially if it has run up hard. That I think was your first mistake when you went long, you left it too late. If you are trading EOD bars system which I believe you are, 5 minutes is too short to exit a position where price falls below a semi major support. That will be your second mistake imo. Give it a least 30 minutes for the high of the 5 minute bar to be clear below support before taking action.