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Re: Silly question to ES traders
agree that ES is a good one to trade.
example:
ES has done a big move up and does a blow-off to 1435.50 and instantly reverses with just a few hundred contracts trading at 35.50. This is generally a good pivot high now and you can actually place a stop at 35.50 and feel ok about it, IMO. The move to 35.50 was an extreme that probably had some panic to it by shorts and gunned stops to that level. It might very well go test 35.00 or 35.25 -- but 35.50 should hold.
This seems to be a less common situation for YM and ER2 -- and NQ for that matter. that spike to '13009' on YM that looked like stop-gunning to the nth degree might actually run stops again above 13009 --- just for the pure fun of it. Russell is worse, IMO.
(This situation can and does of course happen on ES --- but its much less frequent.)
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