Flat @ 1135. Nice catch. Let`s hope we`re at the bottom now. Lesson learned: Do not try to catch a falling knife
At 10:00 the 60 had not turned, the 15 had'nt either, and the safest early entry happened on the 10:35 bar. I'd love to read how you read that Day trade short bias came in at 10 AM EDT, without the benefit of hindsight. Only the chosen few shorted before 10:30, but I'm willing to gain insights to gain access to that club with your help.
all three charts, especially the 5 and 60 signaled reversal at 10 AM Eastern. Now that, coupled with the short bias on daily charts and weekly charts, meant that a short trade was more likely to work than a long. I am not claiming a trade there. Of course it was just a reversal of the 5, 15 , 60 long bias.not a reversal of the longer term trend which has not been up for quite a while.
Also even the 10:30 bar would have been way early for this move today and the action yesterday.--Have a good day all. Staying short with same stop for now.