Another strong market today. I was watching pre market and was able to notice a probe at support on the ES and YM. Extended market at the highs I’m sure had a lot of traders trying to short. ….again. I’ve seen time and time again after a Macro correction this market takes off strong from support. This gave me enough information to look at the long side for a short squeeze and catch the spring up. Entry was good but the exit looked good for about 5minutes and then the market continued to climb higher. I don’t think I’ve ever heard a trader say they are happy with their exits so I won’t even start that drama and ill just say I’m trying to work on trailing my exits a little better. I won’t get too caught up with worrying about missing this abnormal price action but I do feel I need to improve on my exits.
I’ll call it an early day since the market is at extremes. I not really in the mood today to scalp my brains out so it might be best to cash in my chips. I may hit some practice later with some limit order techniques.
Only after the fact will I know how much steam the market has before pulling back. My guess would be some sort of congestion before Fridays employment report, factory orders and ISM index numbers. Either way ill trade what the charts say.
No comments:
Post a Comment