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Closed MES Short
Entry 3901.75
Exit 3884.50
about 17 points
Definitely one of my quicker trades. Was only in the position for about 1.5 hours before I pulled. I knew that price would get hammered once again if it went above the yellow line, indicating that it is overvalued. This was confirmed by the lack of time price spent in this price region. I shorted exactly on the yellow line when it broke for this reason. Seems like to me the market isn't willing to sell too much today so I took my profit and will repeat this if price breaks the yellow line again. The red dashed line was my exit.
This is a 10 minute chart. Screen Shot 2022-10-31 at 10.18.23 AM
Can you help answer these questions from other members on NexusFi?
To sum up the two trades, I basically did the exact same thing for both of them. Same idea, short when above the line, but at different times. I will say that the second was a much cleaner trade, as market hours are busier during the day for obvious reasons and moves play out faster.
The hardest thing in trading for me is patience. It almost hurts looking at the screen all day, your mind starts to convince yourself of bad plays just for the sake of playing.
ES price is sitting at 3892 and im sitting on my hands until/if it passes 3901.75. Time to catch up on last nights nfl highlights lol
Something worth looking at while I wait for signs of life on the ES. Euro inflation numbers came out late last night, so I recorded the price at the decision, which is .9981. This is for the M6E. I will be looking to enter a short if the price wanders back up there.
30 minute chart Screen Shot 2022-10-31 at 11.17.06 AM
Missed the dip. The setup was perfect for an entry, but it broke the price level around 11 pm PST and fell through around 7 pm. Time again was a factor in me missing this trade and ultimately losing out on 75 points per contract. Even the runoff above the line fit the strategy, as it would have been within my 30-point stop loss as expected. I looked at my M6E chart and the same thing happened. Movement occurred predictability, blipping over my price line before being punished by big sellers. I need a new time zone smh.
