Looking for a decent sell off to buy the close. Should easily see yesterdays close before the end of the day. If not today, don't be surprised to see the Sunday traders take it up.
ES Journal Archive (2011)
- Thread starter Buy1Sell2
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Ok, this is why I don't use more than one market to trade -- euro is going down, but ES going up... then, ES finds support and as buyers start to buy the euro as support, ES stalls and offers hold. Now euro back up, ES following. YM and NQ are enough of a look for me, it only hurts me by looking at other markets.
Closing down my platform before I push a trade that it's not there.
Have a great weekend everyone!
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Josh, I think that looking at other markets is very useful to understand market structure and to form an accurate idea of what type of trading day we're having (trend, range-bound, etc.), but IMHO trying to trade an instrument off another is a mistake at worst and an unnecessary complication at best. Same with internals, volume, etc.
I'm buying a round at Volente's
Have a great weekend everyone!
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Josh, I think that looking at other markets is very useful to understand market structure and to form an accurate idea of what type of trading day we're having (trend, range-bound, etc.), but IMHO trying to trade an instrument off another is a mistake at worst and an unnecessary complication at best. Same with internals, volume, etc.
I'm buying a round at Volente's
Just an observation, but the mid-level today is 1277.50. We've been bouncing up off that for the last couple of hours. It seems like if you are trading long here, you have to have the stop under that level. And don't worry about the currencies, very low correlation between currencies and stocks.
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