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my charts on the 6E 3-13 amp/cqg are all jacked up or "off the chart" .. ive posted in a couple other threads to help me figure it out but nothing as of yet.. here is what today looked like for me:
dont believe anything you hear and only half of what you see
Short from 3298, added @3255. T1 3180, holding T2 for bigger swing. Will post charts later but based on the same premise as the charts I posted above. Looking to ride it to the bottom of the daily channel, scaling in and out, but always holding 1 short
Right now I am trying to transition into more swing style trades based mostly on channels. My plan(which I don't always follow, but I'm still learning and I'm still a baby at trading) is to go in with 1 contract. I use an ATM with VERY wide targets and stops, and just adjust on chart trader. Once it goes my way, I like having 2 contracts so I can lock in profits with one. My plan is to trade channels, but like I said I am just now learning this style. In the picture below the white dotted lines are daily TL. Cyan circles are possible scale in's, Fuschia circles are scale out. Big fushia circle is final target. Right now the bottom bullish TL seems to be holding. I am thinking it will give way and we will get some type of correction to the downside. If it holds I will exit with minimal loss (Which kind of stings because I was up 100 ticks today)
The scale in today was when the VWAP held price, which you would see on an intraday chart. VWAP is still holding, so I am still comfortable in the trade I am in. The EURO has been moving a lot during ETH, so I am going to have to wake up early to keep my eye on this trade so I don't prematurely get stopped out, or take profits too early.
I've been considering a similar swing strategy, so thanks for sharing! I seem to get frustrated at the shorter time frame trades, so perhaps a longer swing will be better for me. I'm glad I made the switch to M6E when I did!
Yea i took a short as well on the 5 min chart after VWAP was held, but my current stop loss management has it very tight...probably too tight b/c I was just stopped out at the close there when it crossed above 3259. I will probably hold out and see if we run up to 3280 or 3290 before I think about another short.