this is what happens when WHO announces coronavirus is a PHEIC (public health emergency of international concern). fortunately i got out at the swing low re-tag after someone sat on the detonator.
the take-away for today was that i had some terrible trades early on where i was down almost -$400 and managed to claw my way back up to +$246 trust me, i've done the opposite way too many times. anytime i finish in the green it's a good thing...
this may be only trade for today as i'm still busy with contractors at house but taking the bounce here with 1 contract on 60m and looking for R1 pivot target @ 9185. that'll have to be enough for today.
some context that was missing from previous post. price struggling with prior resistance @ 9138.25 (yellow boxes) which is confluent with 38.2% fib extension. a solid close above this level at the half hour or hour bodes well for continuation to R1 or at least the 61.8 extension. may get retracement to test breakout level but either profit target is better than 1:1 risk reward to stop loss and if there is a failed swing to the upside then moving stop to breakeven would be prudent. i.e., don't let winning trade turn into a losing trade.
more... forgot to post about VIX. it's down more than 8% which is enough for me to remain bullish on this trade and overall bias until it wanes. anything + or - 8% is enough for VIX % to be considered momentum IMO. neg = bullish, pos = bearish. not advice, just observations.