We had what looked like an early morning reversal today – after Chicago PMI and Consumer Confidence numbers. But was the Low really in? And was it safe to go Long?
The clue was the blue, Professional bars. We’d seen Professionals buy the breakout (“jump the creek”) and then buy back in on the re-test of the breakout. But they had not taken profits at the Highs. So the uptrend was still good.
My entry was 7 points from the Low! Which seems like a long way away from a “good” entry. But it still worked out OK.
Good luck with your Emini trading.