Chart courtesy of AMP Trading, get a free demo account and paper trade.

Day Trading on the YM contract

The market stayed well above the 89 period SMA today, so I restricted myself to long trades. There was one beautiful trade that started around R1 and blasted through R2, and that was really it for the day. I took a couple of long trades hoping the market might break out some, but nothing really materialized, and I exited the trade with small gains.

You might notice there were a few short trades that would have been profitable, but I was in no mood to attempt a counter trend trade given the significant distance the price action stayed away from the 89 period SMA.