Market Analysis for Apr 29th, 2021

Mid-day update - quick and dirty lesson

We took some profits at the open given 4200 target being fulfilled. 

The gap up and go/trend day setup quickly became gap up and crap so hit trailing stopouts on swing. 

Always remember the ability to walk away is a valuable trait as the market has many instruments and opportunities in the future when things look unclear in the immediate front.

Know your risk, parameters and timeframes!

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Ricky Wen is an analyst at ElliottWaveTrader.net, where he writes a nightly market column and hosts the ES Trade Alerts premium subscription service.