1st Oct – S&P Emini – Missed huge opportunity today
Hi All,
I did the usual thing, came back home from work, turned on the computer, fired up the trading platform to see if I could catch the last few hours of the US market. You tend to get good movement when the market opens and also towards the end.
When I got back at 6.30pm GMT, I found that the market had already moved a huge amount today! From the low of the day to the high, we have covered 100 prices already! This makes the market already way overbought and we could be due a reversal in the short term at any point before it moves any higher.
In hindsight, a long above 155000 would have been a nice trade if you could have caught it that early.
Frustrated that I missed the massive move, I entered on a break above 155800. This probably wasn’t a very good move and now the market has bounced off at 155675 which is the 5 day EMA. I’m hoping it’ll go higher from here but if not, I have a sell at 155600. The 5 day EMA had not been penetrated all day even on it’s pullbacks so we’ll wait and see what happens.
In addition, I have a short entry primed if the market drops below 155550.
Ok, market went up and I targetted just below 156400 which is a big level. Market really isn’t really making much headway and I’ve got some home chores now to take care of!
I have sold to close at 155925 for +5.
