Emini Trading Update – Monday 23 Apr 2012 (11:47)
Trading after an overnight “swan dive” is always a little tricky – all the volatility has happened pre-open and so you can’t expect larger moves during the day. My best advice is to get into a follow through trade on any early retracement, and then quit.
Did I follow my own advice? Of course not! I got in late on the follow through trade, then gave some back on my next 2 trades. OK, not a disaster but knowing when to stop is so important.
We’re sitting on a knife edge at 1,350. I can see we’re making Bullish Divergence patterns but I think we’ve got one more pass down to sit through. Plus the Euro still has to complete a down swing on the weekly chart. So let’s see if 1,350 holds.
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