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  #1951 (permalink)

Knoxville, TN
Trading Experience: Beginner
Platform: NT7
Favorite Futures: SPY
lllusion's Avatar
Posts: 34 since Dec 2012
Thanks: 12 given, 22 received

Thanks guys. Lawrence, even though the ATR is 80+ ticks, I was just wondering if there was some type of way to investigate what caused such a huge buying spike. I wasn't questioning its legitimacy. It was just surprising to me because I was watching the 6E downtrend all day yesterday and that buying came out of nowhere. I was wondering if there were ways to find clues or news sources that might show what caused such a sudden bullish sentiment in the market around that time.

Cashish -- thank you very much for the in depth analysis with those screenshots of your own. Yeah, stops are definitely important; when I scalp the 3 minute I usually try to keep them as tight as possible but where it makes sense, such as near a current swing high or swing low or above or below some popular support/resistance point. I only go for anywhere between 1-3 ticks and my stops are usually around 8-10. Luckily I was out of the market during that time after getting out of a quick short.

But yes, the market can definitely do anything. I'll try to be careful while I continue picking up nickels in front of this steam roller.

Last edited by lllusion; January 10th, 2013 at 09:34 AM.
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