Good morning traders,
No morning ideas yesterday because of the holiday, so today we address the trend up day from last friday.
We are in a low liquidity market right now, and the order book in the ES is historically "thin." What does that mean for the movement? It simply means that the market can push further than usual because we don't have the liquidity sitting there to make the market trade through the sludge.
Not trying to defend my position that Friday was going to be a sideways day, just pointing out that it's tougher than ever to gauge direction, so be sure to keep that in mind with your own trading. I see a lot of traders beating themselves (and others) up for not making money everyday, but keep in mind that even the best funds in the world struggle with this stuff.
Trading is hard, watch your risk.
No morning ideas yesterday because of the holiday, so today we address the trend up day from last friday.
We are in a low liquidity market right now, and the order book in the ES is historically "thin." What does that mean for the movement? It simply means that the market can push further than usual because we don't have the liquidity sitting there to make the market trade through the sludge.
Not trying to defend my position that Friday was going to be a sideways day, just pointing out that it's tougher than ever to gauge direction, so be sure to keep that in mind with your own trading. I see a lot of traders beating themselves (and others) up for not making money everyday, but keep in mind that even the best funds in the world struggle with this stuff.
Trading is hard, watch your risk.