We may have just witnessed the great panic of 2010... a five point selloff in the ES.
ES Journal Archive (2009 - 2010)
- Thread starter Jahajee
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The fed must have made an emergency rate cut...
It was cited they didn't like the markets reaction to the discount rate hike. Bernanke further stated he likes it when the market goes up.
It was cited they didn't like the markets reaction to the discount rate hike. Bernanke further stated he likes it when the market goes up.
closing other half here at 1104.7 for 6 points profit.
Always rely on the SPX to bounce if it sells off, lol.
As a daytrader, I don't care which way it goes. I care HOW the market goes there.
The big selloffs are short-legged and volatility is quickly stopped by those nasty choppy ranges. We get accumulation for a couple of days and then go up. No reversal pattern that can possibly hint at the selloff being finished. A couple of upgaps here and there, a couple of upspikes from hell and the selloff is history again.
Not to mention all the overnight activity that occurs while US traders are asleep. The big moves seem to occur when volume is light.
Very tough market, no doubt about that.
right shoulder is from big pattern......big pattern failure is best run of all......hi %...those who enter the breakout are no edge traders. not saying they can't make money, only herd trading is not an edge.........right shoulder trap entry is edge....... just my most simple humble most totally non aggressive opinion not intended as advice for anyone. Volente, you have made much progress. Glad to see that. every turn follows a trap of some kind
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