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Europe annouced more QE and combination of oversold gave this bounce which is already 75% of 10 day ADR
Got back into short ES at 1898.50 last weeks low and planning to add at last weeks LVN or last weeks VPOC with target to 24 hr VWAP of 1890 then weekly VWAP of 1882 area....to go swing long....
Price is getting accepted at these levels making me nervous about the trade, I am sure sellers will show up and push the price to VWAP levels...
Still have gold (pains of swing if takes profits price will move away, if not price goes down...I cannot scale in and scale down for obvious reasons)--surely context is lost but still holding support at 1120 so holding on to it for a bigger move
Still have SPY NOV calls
Can you help answer these questions from other members on NexusFi?
Price is getting accepted exactly at my price of short...ideally I want it to reach 1880 and reverse and I am trying to position for that...if not add to short at 1930 area confluence of monthly VWAP and weekly high
Hmm...that was very fast...close is important, I strongly believe another leg up is coming my reasons
1. We tested 1860's support area and bounced
2. We went up yesterday for window dressing and came back down hart today but looks like this downside move is also absorbed.
3. Upcoming earnings season is another reason for bulls for a hope...so I will try to buy the dip at key locations and hold it...
I was hesitant to pull the trigger at 1893 area because of multiple support areas and TICK was at lows...but if this closes above last weeks low I am entering in and holding it...or to be safe side buy calls again and hold them this time.
Ha ha hindsight...MY BIGGEST PROBLEM is for some reason if I miss the entry in my direction then I want to go and take the trade in OTHER direction...which I have to control to get another setup...
This GOLD does't seem to catch bid...I am used to price almost immediately go against me before but this GOLD trade is kind of new perfectly got my analysis and entry was good and almost in a day or two went up 40 points, gave me confidence then it's all downwards...I didn't book my profits because my trade for a long long time and I don't believe changing macro contexts in a day or two (I always surprise by reading some of Guru's post how often they change macro context's )
Wow! I am glad I am flat this morning, it could have gone either way...I feel now market get's it more down until QE is announced and rate hike is out of question...so short term bearish and to the year end bullish....sell the rips but the issue is now everyone would be thinking the same way i.e sell the rips which makes it tough....
Atleast GOLD catched a bid here because maybe of no rate hike
