Going Long the S&P
Updated
I went long on the S&P this afternoon based on the pattern repeating to the upside (based on my related idea below.) I was planning to place my buy order towards the end of the session, but I saw the price floated down towards the days low and found some support, so I entered my buy order.
Trade active
A very strong move to the high of the day in the last 5 minutes of trading.Trade active
Still in my longs. I added a position near the low of the day.Trade active
I adjusted my stop to just under 2840 this morning. The market opened lower but seems to be heading in the right direction again.Trade active
The ES futures show the market should gap up to around 2916 this morning. I'm planning to close at least half of my open positions at the market open. The price action for the last couple of days are telling me that this move is getting tired.Trade closed: target reached
I ended up closing all of my long positions for a gain between 5-6%.
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