The 30 minute and 60 minute charts are showing at least the possibility of upside reversal. Pattern would need to complete--
Pattern did not complete. I did exit today at 107'01.5 Loss of 1'05.0 per contract (-$1156.25). Not a great start to the journal, but I followed the plan and exited. I remember thinking at the close on 5/11 that I should probably be short instead of long, but I erred. Let's hope my next entry is better. I would like to capture at least 3 or 400 bps with my winning trades.
fixed income flows mainly from portfolio allocation, and petro dollar inflows. loss of about 600 dollars per contract. still holding.
Think the downturn is about to come to an end here, there may or may not be a consolidation phase, but like I mentioned before, I have found through observation that the Notes tend to move strongly in a single direction for a subtantial period of time, and then reverse (which makes them an optimal vehicle for position trading). Good trading, JJ
ZN is 1/2 point above the low. 104-04 print in London, 104-22 now. It has been a very long time since ZN managed a 1/2 point retracement from the low! :eek: There has been very little bounce during this persistent downtrend.
ZB even managed to bounce a full point from the low. Are you saying this morning's price action was capitulation? I am not. el surdo