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Jeff, sorry if you have answered this elsewhere (trying to look at this at work and Internet very slow) - what period is your MA/Trendline on this chart.
Any reason in particular that you did NOT take the IB short at 8.45am your time?
Can you help answer these questions from other members on NexusFi?
That is a 50 SMA......the reason that I did not take the IB at 8:45 is......the market was moving very slow.....it didn't seem to want to go down.....it was just before lunch and I didn't was to screw up what had been a very good morning.
I got +30. I lost 54 ticks on the 2nd trade, before the inventory reports. I have a 15 minute pre/post news window but the trade fired 20-25 minutes before the news. How much time in front of news do you avoid trading Jeff? Also, I didn't take the reversal (going long on the short trade failure) like cunparis did because it was inside of my news window and I don't have stop and reverse capabilities coded in the strat and I'm not sure if I want to do that with the potential of taking 2 consecutive losses on the same inside bar.
The news release bar was an awesome outside bar: the initial impulse was up, then it broke down big time. I watched the DOM as it came out, pretty amazing to watch how the spreads widened so quickly and how violently it moved.
After looking at my trades on a 5min chart all 3 winners were with-trend and my 1 loser was counter-trend, making me more interested in researching the possibilities of only trading with-trend breakouts.