A look at the 6E
Hi guys,
The 6E fell like a stone today, which was good, the ES trending day provided some clues. The ES rallied to fill the one remaining unfilled gap above (with a point or two to go as we speak).
Back to the 6E: down at the bottom of its channel, so we'll just have to keep an eye on this as the chart unfolds. The ES - having taken care of its unfilled gap business at 2064 - may decide to head south, in which case the 6E is likely to hold and start a leg up.
By the way, for beginning traders, the 6E has a micro contract, M6E, the only micro, to my knowledge, that is liquid enough to trade. Good for practice! If you decide to check it out, it makes sense to look at the 6E and trade the M6E. Be mindful of the commission though, because it's a much larger chunk of the trade!
In any case, if you're trading the 6E, it may help to check the ES and the DX for clues. Mindful trading with a healthy dose of boldness for the rest of this volatile year!
Ferenc