7/27/2016

fake limits on depth of market

fomc day. i don't like fomc days. i did not understand today´s market and this screenshot is a proof
first i went short (with a drawdown, lots of nerves and a zero result), after that i changed my mind and went long (without a drawdown, without nerves and almost zero result). no, i just didn´t understand today´s market movements. 

but here is something worth mentioning. when i was in an opened loss, there were huge buy limit orders on depth of market -  right bellow the daily high. something i really didn´t like to see there!!
fortunately, they appeared to be fake and just tempting bigger sell market orders to move the price lower quickly - we can see it here very clearly - they moved out as soon as bigger sell market orders came into the market. the price dropped
if there were real, and filled, i would be forced to close the position at another break of the highest high (because it would mean big money are buying the nasdaq futures and i don´t want to be short against it).

the result 70 usd at e-mini nq is really funny (and sad) compared to the 5x bigger drawdonwn i went through.. 
as i said. i did not understand today´s market. at all!

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