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Yesterday's mid-range at 4020,75. Weekly mid-range at 4010,25. And trend line resistance in this area for those who believe in those. TL;DR - could be a turning point here. I'm not so sure we're done below after yesterday's late session sell-off, so would certainly not chase the long side...

Shoot me if I'm wrong, but I seem to recall there were a lot of expectations for a strong rally on this FOMC statement? Surely that did disappoint. It may not have been in this thread, though.

Should not have adjusted your target and stayed with 4000. ;) Nice job.

I've no idea what's going to happen and I consider FOMC these days unpredictable. So, to me the next 100 points can easily be to the downside. I'm sitting today's session out and getting some other stuff done until the dust settles.

Brass balls and potentially an account blow-up, unless you're trading MES. But I've seen you work your magic on these fade trades before. :) Good luck.

We're all degenerate day traders / gamblers, here... :)

The market's in a tricky spot here, IMO, but I would assume the risk is to the long side and becoming a bag holder up here.

I hate to say this in hindsight, but my statistical model gave very high odds (+ 85 %) of a gap up open for today, Tuesday. What could be relevant at this point, though, is that it suggests that a larger gap up could be faded, so I would be careful chasing if we open "too high" today. Right...

I really dislike it, but for now it's all I know. I agree with your read on incessant whipsaws, though. Less certain about 4200.

Each and every day a given level will usually be hit. Like clockwork. However, the market can range and chop and d**k around for long periods of time before finally hitting target. Is this by design? Or is it simply that the orders/volume required to move the market doesn't come in until later...

Unless your entry is completely mechanical and can be back-tested programmatically, you pretty much need to do this manually bar-by-bar on historical charts and take notes/statistics systematically. And yes. It's a lot of work.

I agree with the OP in the sense that this is a whippy market that reverses on a dime on all time frames, so it's wise to not get too greedy on any given trade. However, taking your money and running just because you made a profitable trade and there's a risk of giving it back does not sound...

Looking good... :rolleyes::cool: Anything goes in this market environment, but we shouldn't dip below 69 from here if we are to make that 95 print on the day.

Wedging... Should see a pullback low within 14:30 and not much below 69 if we get that far. If we drop below that I would assume the day range is set for the day.

Question is if we'll see a deeper pullback first. Say 3969. Tricky. If the next thrust higher fails - I may reconsider. An Inside Day can after all happen.

My best guess for today is we'll close Thursday's gap at 3995 by the Close. Not sure we'll get legs above that, though, but we could?

+ 80 points off the low in a few hours. Big moves... :)

By start of last week - obviously a lot of people were positioned on the wrong side of the market considering the extreme bearish sentiment and how the market barely dipped below the prior week's low before starting a rally. I'm wondering if the reverse could be true for this week with people...

Never trust anyone in this business. Only trust what you can verify yourself. I learned this the hard way. Generally, systems that are sold to the public ain't worth much. Maybe they could provide a base to build on and some interesting insights, but I'm 100 % convinced that a profitable system...

Seriously, and I don't mean to be a dick, but you have a lot of learning and studying to do before you even place a simulator trade. Don't waste your money on trading right now as it will be a guaranteed loss. Here's an RTH chart for illustration. As you can see - only the first day was a good...