Hi
I have gone Long the Dow at 10003 - 19.15 and will stay in overnight if neccesary.
Mobanded
Hi Mob',Hi
I have gone Long the Dow at 10003 - 19.15 and will stay in overnight if neccesary.
Mobanded
What makes you say that?Equities are hitting buy programs in an attempt to rally the market into the close which bodes well for you.
Indeed it is leonada,it's teettering on a 10k knife edge.....
Indeed it is leonada,
Having said that, price has been flirting with the 10k level for three days now. Is it likely to make a decisive move now - in the last half hour before the cash close? It's possible obviously. But, I suspect the commercial players will want to milk this area for all it's worth into the weekend at least - jumping one way and then the other. So far, futures players don't seem overly impressed with the little pullback to the 10k area. Time will tell . . .
Tim.
Hi Shakone,What makes you say that?
I think you're going to need to this time.
Hi Mob',
. . . It may be necessary!
Playing major S&R levels can be a winner takes all situation. On the other hand . . .
Currently, price is heading towards yesterday's low around 9,400. We could easily see a sell off into the close and this support area breached and, if that happens, you could be in for a sleepless night. I think a lot of subscribers to your thread (me included) like the fact that you do your own thinking and don't 'tow the company' line so to speak. But, the company line exists for a reason!
Often as not, your plan will work well for you. On the occasions when it doesn't, you could find yourself seriously offside (in the red). This is what concerns people the most, I suspect. As it happens, in the S&P futures, there are many more traders holding short positions than long positions which suggests that the commercials favour a continued move down. However, if there's a reversal at or around Y'day's low, and the Dow makes it back above the 10K level, these players could start to unwind their positions at pace and your trade could come good. Very good in fact. However, I feel (and it is just my personal opinion) that you're playing a very risky game - especially if you're planning on holding your position overnight and hope to get any sleep! Anyway - good luck with it and well done for being so upfront about what you're doing.
Tim.
Quick! Take a small profit
Hi Mob',Hi Tim
I decided to take a 17 pip profit instead of having a long night.
Regards
Mobanded
Hi Mob',
Equities are hitting buy programs in an attempt to rally the market into the close which bodes well for you. If they can sustain this, we could see the futures players take fright and start to unwind their short positions. From your point of view - a short covering rally would be the ideal way to end the day! Fingers crossed, you might get a good night's sleep after all . . .
Tim.
it's teettering on a 10k knife edge.....