Fading the highs 3910 level should be a good scalp trade for a balanced day, a continued sideways build could see a break down to < 3875 , although that may be in globex. RTY has gone to parabolic insanity
Personally, I feel we're in a tricky spot at the moment. Hard to commit to the long side after last week's monster move with all the air we left behind below. At the same time I'm too terrified to short this beast. LOL. Probably a good week to stay nimble and bank some profits on scalps. But I do feel the risk is to the down side this week.
I thought you retired? I like the R/R on a short in this area, but not expecting the end of the world.
I am retired. Just playing around now. Are you familiar with Pekelo's "Dragon" formation? I think this is it. In that case, the profit target is about 500 points down, which would put us near the last February high (pre-Covid selloff).
Good to see you Schizo. I dipped my toe in it this PM. Short two MES @ 3910. Currently at 3915. I'm also short NQ with short put hedge. We shall see. Money stop.