Yes, but more importantly, prudent risk management. A long here would have either a very very small stop or a very large stop. There could be no in between stop since the move has been under way for some time. Each trader would determine what level of risk they could handle
ES Journal - 2015
- Thread starter Buy1Sell2
- Start date
That's because we heading up to 92, or so I'm told.
Because 2089 hasnt been taken out yet. Once that happens I will be looking for longs on pullbacks.Why a short? Strength is to the upside today, but failure to take out the current high gives you a mini H&S for the day. For those who believe in such things.
Looks strong so far, though.
The ES typically backfills a lot and rarely moves in straight line, so entering at the end of a 10 point move is typically a bad entry.
Just something to be aware of for better execution and entries, IMHO.
L 85.5
stop 81
stop 81
Longs are more likely to be successful when intraday charts and short term swing charts are oversold whilst longer swing charts and daily charts are trending up.
As was the case 3 or 4 hours ago