Next target is around 3930, and the second target will be about 4050. The index has been back and forth between these lines.
At what price and time did you go Long ? Which target will you exit your Long...3930 or 4050 ? wrbtraderr
The gap from early November was filled for the S&P 500 and Nasdaq. The next gap to fill is just above 4200.
My more than 2 decades of experience as a day trader has taught me the following: intraday: I constantly follow the evolution of the market in my trading model. The model will tell me when to act, and what to do. positions that last longer: I follow the evolution of the market in my trading model every day. The model will tell me when to act, and what to do. But I never go overnight, so this is only used for demonstration purpose about crypto's in Baron's trading journal. I never put any entry or target prices. I wait till the system tells me: you should do this, now. So I never know in advance what I will have to do, neither how far the trade will go, neither how long it will last. But my system is mostly informing me minutes (till an hour) before the moment that I will have to act. But I never have any clue where the price will be at that moment. But that is irrelevant. I am confident that my system gives me the best price, risk reward wise. The further into the future you want to see, the more inaccurate the result, and the greater the margin of error. The probability of the expected result decreases exponentially with the length in time of the "prediction".
I forget which trading book I read a quote something to the effect of "Every player in a Casino has a system" or maybe it was "Every Casino was built on customers with a system"?