Previously, We have mentioned SP500 might go lower and we will take anything below 2600 level. (FRIDAY CLOSED @ 2700 level!!)
We have entered our trades @ 2500 level when market hits limit down, but didn't make any money there (but a small loss) when our CL (2480) is triggered. IT'S OKAY.
Then, we reentered our trades @ level 2400 again (with CL 2380) and BANG! Market closed @ 2700 on Friday!
Our plan for next week: 1. Take profit @ level 2700-2750. (Reason: Stochastic MIGHT be forming pre-divergent pattern) 2. Buying back @ level 2630 - 2700 (Expecting it to go as high as 2880 - 2900 level)
Note: Our plan may change throughout the trading hours. All depends on market movement. PLEASE KEEP YOUR CUT LOSS TIGHT & BE DISCIPLINED IN TRADING.
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Rule_no1: Your capital becomes vulnerable when you ditch stop-loss.
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