We're all just attempting to make an educated guess here, LOL. Yesterday was a failure to get back inside last week's range. So, the big question is if it was THE failure or just an initial failure as breakouts can take a few attempts to work out.
I still feel that NQ 18500 and what happens after that level is touched will set the tone for the rest of the week, and possibly the next few weeks. I feel NQ 18500 almost is "inevitable." If I had the courage of my conviction, I'd buy as many as margin would allow right now and bet an 18500 take profit is filled before I am forced to file bankruptcy. Since I lack such courage, I'm sticking to scalping for small slivers of range at a time.
Well, you had a day this week which would put everyone else to shame, so whatever you're doing, it's working! Why not trade larger moves on 1 micro for starters to get into it and scalp for small slivers of range simultaneously?
IMHO, any not-too-dramatic attack against Israel has already been discounted. Remember that after Israel bombed IRAN'S EMBASSY in Syria, they responded with a showy, but non-lethal barrage, and Putin is now asking them not to inflict much damage. If they caused massive damage, then it's of course a different matter (escalation, etc.). Compare 1973 and now
If, like me, you don't have the stomach for large losses, but can handle large (open profits) drawdowns, you could also put on some reasonable size, manage your risk prudently, ideally add to your winning position, all while targetting 18500. Best trading to everyone!
Agreed. It's difficult to know how much is already discounted as we sold off considerably already. If it's a full scale attack that escalates into an all out war I find it hard to believe we won't see at least a decent initial sell-off, but who knows... As shown by yesterday's sell into the close this is still a market that can turn on a dime.