Prices topping out on 5-minute and ya still haven't succeeded in taking out my stop. Now I feel almost invincible!
When this happens to me, 9 times out of 10 it gets taken out on the next attempt. We are testing resistance here at 906-907. If we fail 880 is next, if we break out I have no idea, gut says 917 on the break.
It is an ADU so far in the midday topping phase (12 - 12:30). The start was a bit non-classic because it tried to close the gap first, but since the 10:50 bottom we have been following the timeline....
Rally led by Energy, mining, metals, gold stocks .... not financials and tech SPX 920 max and then end of this stupid rally. Can't even trade XLF or UYG or QQQQ - first two are almost flat and QQQQ is up a whooping 0.31
Nice trade, bro. I was also eyeing that 908 level since it lined up with the down-sloping trendline, but the stop would be too damn wide to stomach. Silly me.