If it moves up intpo the fap around 3886, I'm likely to be temped to go short as that has been the bias of SPX within the last 24 hours. And I would short it to the mitigations/breakers that formed around March 9 and 10.
I don't see it changing bullish although there are the soft highs around 3908. Howver, I see Friday to be the possible turnaround and attach those highs. So I think it will reach up into 3886 then push down to 3864 and then turning around bullish.
But if it reach 3864 first I wan to wait to see if it gets to the botoom of those breakers near 3854. If I start seeing that the momentum is changing I will go long and aim for the soft highs around 3908. Let's see what happens
Good luck and good trading
I don't see it changing bullish although there are the soft highs around 3908. Howver, I see Friday to be the possible turnaround and attach those highs. So I think it will reach up into 3886 then push down to 3864 and then turning around bullish.
But if it reach 3864 first I wan to wait to see if it gets to the botoom of those breakers near 3854. If I start seeing that the momentum is changing I will go long and aim for the soft highs around 3908. Let's see what happens
Good luck and good trading
Trade active
I went with the short at the Fair Falue Gap OpeningNote
TOOK 50% PROFIT 3878 MOVE SL TO 3893.Note
iF YOU TAKE ANOTHER 10% NOW YOU GUARANTEE THAT YOU PROFIT EVEN WITH THE STOP LOSS.NEXT TAKE PROFIT IS 3869
Note
Take another 30% ProfitNote
MOVE S/L to B/E Note
Just took 10% and I'm leaving the final 10% as a trailer. I may take 5 % depending on how low it gets before leaving the last 5% as a trailer.Note
at $5/handle this mad up for my losses yesterday and this would be an entire 2 weeks worth of work at my job.I'm good for the week. But I might jump back in tomorrow to see if it will will sweep to the upside and takt out those equal highs on SPX and NAS
Note
Buy the turn!!! This was the original plan anyway, I just should've bought sooner. Close out the remaining 10% and buyNote
I'm taking profit at 10 handles, I only risked 50 this time at $5 handle that's an extra $2,500. And I'm calling it a day. I don't know if the movement to the left could cause some Breaker Mitigation issues and I don't wanna find out. I'm taking my 10 from the buy and leaving it at thatNote
Let's recap this in my own words. from the first paragraphs. First, If it moves up into the gap around 3886, I'm likely to be tempted to go short as that has been the bias of SPX within the last 24 hours. And I would short it to the mitigations/breakers that formed around March 9 and 10. So I think it will reach up into 3886 then push down to 3864 and then turning around bullish. But if it reach 3864 first I wan to wait to see if it gets to the botoom of those breakers near 3854. If I start seeing that the momentum is changing I will go long and aim for the soft highs around 3908. I did this all by reading the algorithm. Nothing Else. No Magic 8 ball. No Trendlinesm no channels, no indicators, no nothing. This is pure hard work and studying the market day in and day out. Now watch the chart below as I describe what I think will happen..... It does. Follow me on Tradingview for the best and most profitable ideas.
You're either trading with Smart Money Theory or your just burning your money money. Believe me, I've been there.
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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.
You're either trading with Smart Money Theory or your just burning your money money. Believe me, I've been there.
Related publications
Disclaimer
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.