We traded coast to coast on a 100 handle move South to the button, which always provides a technical bounce.. 20 to 20... Traded just beyond 50% fIb & down to the always valuable confluence zone around 15/20. I will Continue to Sell the Rips vs buying dips here... was able to put on a few shorts on last nights gift lift not expecting to get hit but did... small but significant... just can`t pass up on this PA.
Very attainable... some interesting levels up top.. 52 is the 50% fib from todays swing lo... I don`t like to tip my hand as im a bit superstitious ... but I have resting sell limits up to the 60 sweet spot... and another confluence beyond that should they really decide to squeeze it!
I'm not playing it with futures right here (a few options), but my thoughts are that it would make a short term low on the re-test of 6500 in NQ. I think that NQ is kinda driving the bus right now with all the big tech's reporting soon.
After this big down day the chance of some retracement is larger, price also slightly bounced on the long term support TL. We should see some more upside before dropping lower.
Also, to his or her OPINION, just to be fair. Specially if one is objective. If you guys think that letting a position go from +55 to -45 is skilled and fine and dandy, then I am on the wrong website. But it must be PRM.... (and I haven't even mentioned his stop loss removal)