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First chance to trade this week . The pivot points are really key today . Missed a trade at 7:38 but got on board at 8:12 for 4 ticks before 8:30 news . Good trade at 8:36 but didn't take it , was happy with my 4 ticks . Have a great day
The 151.26 is a key resistance area just below a daily longer term 23% fib line for a retracement which may or not happen. As for me , I like the movement , up or down , in one direction sure makes it nice . As you look at a 1 hr. chart for the past week it has been a roller coaster , and yet some decent trends to trade short term .
Its possible that the action down on Thursday was a way of getting out of positions made for a interest rate hike.
Now I believe that those positions are closed and those areas wont be seen again anytime soon. A lot of buying occurred just where a lot of selling occurred 151'00 a couple of days earlier. Unusual action for a single price point. I'm talking in the thousands.
If you can trade options ( I also have TOS) short the FXI China ETF...lots of roomto go. That for another thread though...
I know some don't agree but what is happening right now is why I like scalping , I can almost always find 1 or 2 good trades with bonds per day , on small time frames , it doesn't matter up or down . I'm not trying to make a killing , just 3 to 5 ticks per day , a runner once in awhile is nice too . I find trading bonds very enjoyable . I'm not good enough to trade multiple markets, so I stick with the one that fits me best . Have a great week end
I too have moved over to trading the ZB the last few months. It moves well, sometimes nearly 2 points per day, and I don't get shaken out so much like I did with the ES..it's easier for me to get out of trades for b/e or 1-2 tick losses. I think its just a preference of how I like to trade. The ZB typically moves a little slower and its easier for me to see buyers or sellers getting caught on the wrong side. I also watch the Bund for a frame of reference and confluence, though they don't always trade exactly the same, they often move together. Hope we can get some more bond traders to provide their input Good luck trading out there.