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Hindsight is 20/20... if price had gone up all day, you prob'ly would've said 'the key here is buying support at 1990'. After all, price opened around support, the trend from yesterday was up. There's a very similar example in your blog. So why not do it today? After all, price traveled all the way to resistance next. You can even draw a demandline next to it. |
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No reason not to buy the midpoint at 1990, if that's a part of one's strategy. However, doing so would not be "key" to playing the trend day, and the trend day provided the sideways midday movement that I referred to and that I've noted several times in previous posts on the subject.
Or one could stubborly hold to a bullish bias, ignore the test of resistance, and stand by while watching most or all of his long profits evaporate. But that's the difference between trading reality rather than dreams.
An update to the ES chart I posted last week: