Answers in reverse order...
Mom Yes it was PD, but there is a difference between a single PD /ND event, where you can be sure of a short term reversal, and a 3 pk PD/ND where one would expect a trend reversal. Closing on the PD at 18:00 would have been ok, but the prior RSI strength for the up move from 80 to 90 was really weak compared to the down move from 90 to 66. Having closed, there would have been time to sit back and analyse thing with no pressure of being in a trade...
"V" bottoms - the one you refer too was 20 points- nowhere near enough to be classed as a V bottom. I'd suggest 40 points + to classify as such..... Look at 13th,9th,7th.I'd also expect RSI to be sub 20 and CCI at -300.
OES - all the time targets are being met, there is little point in closing a position until you see clear evidence of a top or bottom. These will mostly be 3 pk ND/PD , V or W. Mostly you will never get more than 20 points pullback from a trending move. Exception today going from 37 to 65.
Is the answer to close half at 18:00 and let the rest run? Easy on SB, easy on YM, nowhere near as easy on ES at $50 per contract...unless your name is Ghetti.
Mom Yes it was PD, but there is a difference between a single PD /ND event, where you can be sure of a short term reversal, and a 3 pk PD/ND where one would expect a trend reversal. Closing on the PD at 18:00 would have been ok, but the prior RSI strength for the up move from 80 to 90 was really weak compared to the down move from 90 to 66. Having closed, there would have been time to sit back and analyse thing with no pressure of being in a trade...
"V" bottoms - the one you refer too was 20 points- nowhere near enough to be classed as a V bottom. I'd suggest 40 points + to classify as such..... Look at 13th,9th,7th.I'd also expect RSI to be sub 20 and CCI at -300.
OES - all the time targets are being met, there is little point in closing a position until you see clear evidence of a top or bottom. These will mostly be 3 pk ND/PD , V or W. Mostly you will never get more than 20 points pullback from a trending move. Exception today going from 37 to 65.
Is the answer to close half at 18:00 and let the rest run? Easy on SB, easy on YM, nowhere near as easy on ES at $50 per contract...unless your name is Ghetti.
