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Absolutely. I made some comment earlier, whatever I was thinking then, something like, "so now what, go long?", but with complete sarcasm. In light volume, when "that" price hits, whatever triggers the larger orders to pile on, 50 ticks is nothing, and the turn is too fast for many solid indicators. Sure you could go to a 5 over a 10 MA, or any other way of thinking you are combatting it, but chop-chop, you're down, and for what? Lack of patience? Make goal?
Can you help answer these questions from other members on NexusFi?
The conundrum is that even in low liquidity, the ES behaves more symmetrically (even today). Compared to the slaves - CL / YM/ TF etc etc. Looking at the ES now, I think I would have traded the ES more aggressively than the CL...which begs the question, why trade the puppy at all? Or, why not trade both intra-day (an idea I am mulling as my set-ups get simpler and simpler)
I just don't like ES for some reason. I actually prefer the whippier price movement of TF and CL, even though that may seem counterproductive. I know for a lot of traders, ES is king. Certainly in liquidity it is.
I don't always like the fact that I settled on CL as my number one market, and am never ruling out moving to something else, and that may be ES some day. Next to CL, I know ES better than anything else out there. But today, it is nothing but another indicator for me, and the puppy act can be an advantage.
That number was what I thought last night, posted as a single word, but that is what I was referring to. My best guess for IF this is corrective and marking the turn. Volume agrees with me so far, as they finally ran the stops that had built up.
What I watch has changed ove rthe past few weeks, and being limited to two screens right now, I have a higher emphasis on the 6E and ES than I might have thought. I keep moving things around, but what I have up shows what I feel I need recently. Except the weekly, but that is just for perspective.
I noticed that ES and 6E were hitting their zones with precision, CL did not. Maybe I am off some on my methods this time on CL, I may have not looked at it right. But I do not feel that way. Maybe that is the lack of symmetry @Deucalion is referring to.
I was shorting ES today and still made pretty decent money, though I pissed away a little bit here at the close. It was NOT good movement to trade, even if I had been long... boring, hard to get a good read on the tape, and generally not good movement for ES. Compare that to 4 out of every 5 days over the last month which have been just outstanding movement--clear, no BS. Not today.
Boring is an interesting take. lets do an experiment.....consider this 5min es chart from today, these are pesavento patterns on ensign windows.....see if you can see any congruous behaviour.....
This may be different given the current news, but when I did trade ES, I recall summer months being very boring and slow. That is one of many reasons I started exploring other markets. I was in a chat room, trading ES, and some trader said "this is like watching paint dry".
At first I thought this had changed to a discussion of astronomy.
I went back and looked at that chart and once again am impressed with the features of Ensign. I never did look into that any further, but I did spend several hours reviewing the instructional information one evening. It looked very cool, as long as it is stable. I believe you still traded on NT though?