Why Is The Obvious Not So Obvious?

Today was an easy buy low sell high situation. I went long at 2430.75 with stop at 2328 and closed it at 2436. I have to admit the closing of the position was due to fear of giving up the profits, my target was at 2437.25 which was an obvious level from yesterday and from over night. Also on the dom it had a big offer there so I was not the only one watching it I guess.

 

What do you think the most likely answer is..look at the nearest bars to the H and L.

Lines are but reference levels..all they should do is prepare you for the possible reactions!

 

Yes..I totally agree with that way of thinking..in fact..I would consider a "reverse trade button" a necessity if daytrading the ES..along with some other buttons for fast order execution!

 

I tried trading with a reverse trade button. I usually get killed that way in chop. I am not at the level of using on yet.

 

The best way to exit a position is when you have a reason to do so..same for entering!

 

Which is why it is very important to "wait" and not get sucked into the algorithm trades that are continually going off..sure way to throw money down the drain!

 

And I am guessing that the reason is "obvious"....

 

We are still below 2440..but getting a bit closer..only time will tell

 

This is where your reverse button might come in handy!!!

 

ye im feeling the 2437 is the HOD or at least until late afternoon. Now comes the Chop. Anyway I'm done for the day. Got a mountain to climb.