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Catching Big Waves - a trader's journal of surfing the the markets
I think another possibility could be that there are still many traders who do more gambling, than real trading, but do those guys actually move the market?
As consistently profitable traders.. "We get paid to wait, and we wait to get paid."
ES and TF are still looking relatively stronger than CL. They are pulling on it, but it is lagging to me. If I really cared I guess I could pull up some charts with RSI, but just guessing by observing. Maybe after the close I will look at it.
Could be, or could be the calm before the nap. I am long ES and risk-free in a trade, and I am hoping for a "storm" to the upside. But given opex day, and that we are 22% below 20 day median volume at this point in the day, and 50% below 20 day median range at this point in the day (ES figures, not CL), all I can do is hope, and hope that the market will give me about 6 points to the upside (and hope that I do not fall asleep). This market certainly looks like it wants to go up, but anything can happen on opex days, and we have a 5.50 range through 1.5 hours over here.
This is the antithesis of yesterday's news-driven action: the only thing to do is be flat, or have a position and just wait, patiently. 12 points in 3 minutes yesterday, and lucky to get 12 points in 8 hours today.
