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1. OK. I'd probably look to fade the move. 2. Rationale is simple - potential reward > risk.

Personally, I wouldn't take a position there as I don't trade that way. I would have been a buyer at previous swing low, which would have been quite prosperous on this occasion. In fact I've learnt to be totally unbiased to market sentiment, I buy support and sell resistance levels using very...

I gave you a like pal, that's the least I could do ;)

Why I'm so smart as a millionaire.

The question should be restructured IMO, how can we use price action as a precursor to trend continuation or trend reversal? The rest is based on risk management.

Russian roulette? No thanks ;)

I've done both, day and swing trading. I mostly swing trade now just because of the time involved. I don't think one is any easier than the other, only the time involved. To me day trading is more stressful. You have to be on your game at all time. Swing trading takes up about a 1/2 hour per...

QUOTE="DiceAreCast, post: 5356971, member: 523201"]Except when in hindsight it turned out to be a valid breakout. Happens around 50/50 of the time, add commission and spread and slippage to that and you have a guaranteed money loser. Welcome to the exciting but unprofitable world of chart...

See reasons mentioned by DAC

IMO retail traders, especially for reasons mentioned by you, should mostly swing/position trade and work of longer term charts. Doing this will diminish risks associated with daytrading.

End of week charts for SPX, INDU, NDX, TRAN.

Thanks. I'll probably rejoin after the Easter break and also would like to wait out the NFP report.

Out at 13354

CME closes 8.15am CT tomorrow.

Dunno. I will be looking to close my long trade before CME closes tomorrow. Hopefully 13500.

When you are sailing in uncharted waters you just can't tell what's ahead of you. So I would just watch how price reacts to levels ahead. I am holding 1 contract NQ, but I do have reference points up ahead ;)

I'll take 50/50, it ain't bad fella.

Don't see much cause to close this apart from hitting the resistance level, not much action so far at 13300, considering world indexes are mostly green we should head higher.

NDX at 50 SMA