In this video I go over several reasons why yesterday's low signaled to me that it is a good low to now look for longs. I use a measuring tool for rotations, Bollinger Bands (20 Period 3 Standard Deviation), 10 day Moving Average, and the Year To Date Auto Anchored VWAP.
I connect my TradeStation account to Trading to Trade Futures.
Past performance is not indicative of future results. Derivatives trading is not suitable for all investors.
I connect my TradeStation account to Trading to Trade Futures.
Past performance is not indicative of future results. Derivatives trading is not suitable for all investors.
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Today's close was a good confirmation that this rally may have legs. Tomorrow's FOMC decision is obviously key. As long as we can sustain trade above today's low I think that we keep going up for now.
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Key for me in this trade was to scale out. I took a lot of my positions off on the Fed day, but the next day I put many of them back on and got smoked. I'm the first to admit when I'm wrong. That's why we have risk parameters and stop losses. Cheers