Thanks for your reply. I am on my way out but will review the chart later tonight. fwiw sim traded today for +23cents- mostly scalps. using trendlines, channels seemed to help.
Yes, I had the same feeling about ES vs. the Euro. But it's deceptively slow I would say. It sits tight and then breakouts and when it does it goes. Don't think it's worse or better though, just different. After all there are people who scalp Eurodollar futures or day trade SPX options. Compared to ES those ARE slow. I remember back in the good old times of ET chat there was a guy who scalped Eurodollar futs for like 1 tick on huge size. Worked for him. When I looked at that market I was amazed how could he see anything there, when it moves like 1-2 ticks an hour maybe. Just the matter of adjusting your tactics I believe.
Three pushes on top of the bigger price channel trade: http://www.cornixforex.com/2012/02/three-pushes-up-on-top-of-bigger-price-channel/
Yeah, I even tried some longs around 1-min EMA, closed all b/e. But when it bounced off the bigger channel for the 2nd time in confluence with 3 pushes on 1-min, it started to really look down. Still sitting in this one.
The blue line is the downtrend from the May 2011 high. The pink one is the downtrend from the Oct 2007 high. This market is so strong that it hasn't even been able to pull back enough to officially backtest either line, it just keeps running higher. The last big bull move ran from September 2010 through April 2011 - 8 months. The current rally is finishing it's 5th month, so if it is to match the last one in duration it should run through the end of May.
Ben Bernanke spawned some nice EURUSD trend today, which is surely our friend. http://www.cornixforex.com/2012/02/trend-is-your-friend/
Price channel breakout pullback fine-tuned on 1-min chart: http://www.cornixforex.com/2012/03/channel-breakout-pullback-retest/
1-min three push pattern scalping entry within the context of 5-min channel top. 4 pips price action based initial stop-loss. http://www.cornixforex.com/2012/03/three-push-pattern-as-entry/