Friday's dip might be just a 1-day squall... that is, "one and done". There have been several of those in the last year. Suggest considering Friday's low as a pivot... long above, sell below. There may not be a test of Friday's low. The BTFDers might gap it up and go from there. Play it by ear.
So far he's been right, and so has Schizo since he disappeared and came back. Did they both get the new Tesla brain implants to decode order from chaos? How did they know?
This is a classic example of the principle of "Price TA"... and that is... "everything everybody knows, hopes, speculates, fears, anticipates, etc... is reflected in the PRICE. The second arrow at 20400... (1) Today is VIX expiration (many VIX expirations have been down days)... (2) overnight, Ukraine launched "US made missiles" on Russian targets. Putin has said that any such launch of American made missiles would be open to a "nuclear response". Scary potential, right?? Well... the market assessed all of this and apparently determined that the threat at least at this time is not genuine... and it bought "matched low support" from a few days back in spite of Putin's threats. Important concept... There was a fundamental threat... THE "MARKET" CONSIDERED IT ALL AND BOUGHT ANYWAY.. AT SUPPORT! Price TA... trade what you see.. trade what you know (in case you haven't yet connected the dots.. what you KNOW is in the charts)... trade with your eyes! "Buy Support, Sell Resistance". "Follow through"? Dunno... have to play it by ear.
Hello Scataphagos, That damn NQ man, I had to battle NQ today, NQ almost tore my black ass up today. But you right. Gotta just do it. There is no other way to make money in ES and NQ, just have to battle everyday, 23 hours a day 5 days a week.
Yep, this was spot on. The selling is never real and it always is very short lived. Up all week like last Friday never happened. You are never getting a real selloff with multiple sell days. Impossible and I mean IMPOSSIBLE.
I got sucked into trading around 2009 and this decades bull market has taken its toll, but I'm still on guard for a bear market that never comes. Your first big win can stunt your growth, if it's in the wrong direction.