Well, apparently you can't just rely on daily indicators and an open gap. All I did was lose money on premium burn with the calls I bought last week, but I added next week's XLF calls when the market opened and XLF went red for some stupid reason.
Wound up dumping everything near the daily peak when I regained lost profits, so at least I'm even now, lol. What I realized is that you gotta pay attention to the 3 hr indicators even at the bottom. You can see how it sold off Monday afternoon/night because RSI and MFI hit overbought, and we got the Powell pump because MFI hit oversold premarket today,
I don't have time to pay attention to the market all day because I have a job now, lol, so you guys will have to track MFI and RSI on your own. 3 hr chart, standard settings for RSI and MFI and make sure your time zone aligns with US east coast (NY), or else the 3 hr charts will look different.
There's also a small gap up aftermarket today that also needs to be filled. Probably more whipsaw, lol. At this point, I'm only trading if I see indicators go oversold or overbought. WIll post plots pre-market if I have time. Good luck.
Wound up dumping everything near the daily peak when I regained lost profits, so at least I'm even now, lol. What I realized is that you gotta pay attention to the 3 hr indicators even at the bottom. You can see how it sold off Monday afternoon/night because RSI and MFI hit overbought, and we got the Powell pump because MFI hit oversold premarket today,
I don't have time to pay attention to the market all day because I have a job now, lol, so you guys will have to track MFI and RSI on your own. 3 hr chart, standard settings for RSI and MFI and make sure your time zone aligns with US east coast (NY), or else the 3 hr charts will look different.
There's also a small gap up aftermarket today that also needs to be filled. Probably more whipsaw, lol. At this point, I'm only trading if I see indicators go oversold or overbought. WIll post plots pre-market if I have time. Good luck.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.