Those three 1 minute bars really change the hourly and daily patterns now. Makes the last 2 days look more like a retracement than a continuation to the Jan lows
That was an expensive beer session. Left after the 1st hour and put in a stop at 80 figuring I'd be safe. Oh well. It was only a micro.
Jesus, now it is up 1.7%, big monies are just shaking up the tree to up and down to trap both long and short. I took some losses after 3pm, didn’t have account size to carry contracts, otherwise I could have made a killing by now. There is always tomorrow.
Staying short where? Which instrument, which entry price, and which PT/SL? You forget how much chaff comes between your "wheats" in your journal, heh.
Like Spooz said, it was AMZN. I saw the eod activity by the whales in the options and that's why I posted this when I did.: I know you guys all trade off the charts and ancillary events really don't matter, but in this particular case, and in this particular market given what we've seen the last few trading days, I felt it might have some bearing on things for ya'll.
Yeah nice looking out for us, I forgot you posted that earlier. I am nearly a 100% chart only guy, but I do respect and look for catalyst events, so amazon is one I was prepared for. All three indexes touched their Daily supports too, so the rally wasn't too surprising. But both those reasons are why I covered my shorts EOD.
The short term trend appears to have reversed from up to down on the daily chart as of yesterday's close. In the weekly cycle we also reversed below the 50 % level and closed below. I'm short from here.
Many doubts on direction indeed. One could also argue that your choice doesn't matter because it can change in 10 minutes. Maybe just best to stay short in 'highflyer/no earnings' company and equal long in 'quality'.