I'll take a swing usually at 4 times leverage which also constitutes an outraday day trade. This is all part of PRM.
I did indicate that Long would be a counter trend trade at the time I took it. It's very important to always trade with the trend. Setups may look good on the countertrend side but it's really best to avoid them over the long haul. ---I have always been a trend following trader.
As a trend follower, you must be willing to miss trades. This is another leg of PRM. Trade with the trend. Do not try to catch every turn.
Interestingly we are at the 38.2 level of both the original downtrend and last weeks downtrend. Will be interesting to see what happens next. But I added a short with a stop at 2669 anyway.
We make up for not catching every turn, by utilizing leverage when we do trade. When correct and the trade runs to maturity, it more than makes up for missing all the turns. ---Most beginners try to trade back and forth and catch everything.----Not good
So far, super correct in the analysis of the 2655 area. We possibly have the reversal into new trend forming here but it's not complete yet.
2675-80 SPX would be the turn around zone if we make it there, based on the daily chart. Former support and the SMA line are both around that area.
What im seeing right now 15M chart macd divergence 1M chart unable to penetrate fibonacci levels to upside