NexusFi: Find Your Edge


Home Menu

 





Todays Closing Action was difficult


Discussion in Emini and Emicro Index

Updated
    1. trending_up 1,313 views
    2. thumb_up 0 thanks given
    3. group 1 followers
    1. forum 2 posts
    2. attach_file 0 attachments




 
Search this Thread

Todays Closing Action was difficult

  #1 (permalink)
 marketvoyager 
Florida
 
Experience: Beginner
Platform: NinjaTrader
Trading: ES
Posts: 110 since Sep 2014
Thanks Given: 60
Thanks Received: 20

Today I found the last hour or so difficult to trade. When the S&P was testing the 2089 area and it failed to go down, after that I thought it was either going to retrace further to a fibo level of 50% to about 2085.75, and the either go back up or continue to the 62% level, which it did. Those where good sim trades for me, but then I thought, the market is going to either continue lower to the 2081 pivot support or go back up. I am only sim trading by the way.

Well, at first it seemed to building a support area at the 62% retracement, so I covered, then it seemed to be rolling over again, this was at 15:56 time. That bar seemed to indicate a bearish rollover, I felt confident so I sold there, but suddenly the market just said nope, I'm going up again, and it made a small rally to the last area between 2086 and 2087.50. If you check the bar at 15:56 and the one following this one you will notice. I found that to be odd and very difficult, I went from a small profit to a bigger loss. Anyone else found this difficult? What could I do to prevent this, what are the signs the market will not go with a rollover and move on the opposite direction? The change in momentum seemed to happen very fast, in a matter of seconds the price went from 2084 to about 2086.

Started this thread Reply With Quote

Can you help answer these questions
from other members on NexusFi?
Trade idea based off three indicators.
Traders Hideout
Exit Strategy
NinjaTrader
Better Renko Gaps
The Elite Circle
Any futures traders in Texas looking to give back to tho …
Traders Hideout
MC PL editor upgrade
MultiCharts
 
Best Threads (Most Thanked)
in the last 7 days on NexusFi
Diary of a simple price action trader
20 thanks
My NQ Trading Journal
19 thanks
Just another trading journal: PA, Wyckoff & Trends
17 thanks
HumbleTraders next chapter
9 thanks
Daytrading ES & NQ
9 thanks
  #3 (permalink)
 
Big Mike's Avatar
 Big Mike 
Manta, Ecuador
Site Administrator
Developer
Swing Trader
 
Experience: Advanced
Platform: Custom solution
Broker: IBKR
Trading: Stocks & Futures
Frequency: Every few days
Duration: Weeks
Posts: 50,439 since Jun 2009
Thanks Given: 33,203
Thanks Received: 101,598



marketvoyager View Post
Today I found the last hour or so difficult to trade. When the S&P was testing the 2089 area and it failed to go down, after that I thought it was either going to retrace further to a fibo level of 50% to about 2085.75, and the either go back up or continue to the 62% level, which it did. Those where good sim trades for me, but then I thought, the market is going to either continue lower to the 2081 pivot support or go back up. I am only sim trading by the way.

Well, at first it seemed to building a support area at the 62% retracement, so I covered, then it seemed to be rolling over again, this was at 15:56 time. That bar seemed to indicate a bearish rollover, I felt confident so I sold there, but suddenly the market just said nope, I'm going up again, and it made a small rally to the last area between 2086 and 2087.50. If you check the bar at 15:56 and the one following this one you will notice. I found that to be odd and very difficult, I went from a small profit to a bigger loss. Anyone else found this difficult? What could I do to prevent this, what are the signs the market will not go with a rollover and move on the opposite direction? The change in momentum seemed to happen very fast, in a matter of seconds the price went from 2084 to about 2086.

You're better off posting in the main ES thread



Mike

We're here to help: just ask the community or contact our Help Desk

Quick Links: Change your Username or Register as a Vendor
Searching for trading reviews? Review this list
Lifetime Elite Membership: Sign-up for only $149 USD
Exclusive money saving offers from our Site Sponsors: Browse Offers
Report problems with the site: Using the NexusFi changelog thread
Follow me on Twitter Visit my NexusFi Trade Journal Reply With Quote




Last Updated on August 4, 2015


© 2024 NexusFi™, s.a., All Rights Reserved.
Av Ricardo J. Alfaro, Century Tower, Panama City, Panama, Ph: +507 833-9432 (Panama and Intl), +1 888-312-3001 (USA and Canada)
All information is for educational use only and is not investment advice. There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
About Us - Contact Us - Site Rules, Acceptable Use, and Terms and Conditions - Privacy Policy - Downloads - Top
no new posts