Small relief bounce for now
Crazy day in the market these past few weeks. My bearish view finally coming into play. After Fridays performance however, I do believe we will have a small relief bounce. Bulls may attempt to fill the gap up at 400-402 area. Currently will start scaling out of my long position at 397. This market is not to be swinged. Current market conditions show that anyone trying to swing a specific direction will get slaughtered unless you give your position time. Day trade is the best option under such volatile market.
This is how i plan to trade. above orange line i will go long only after a confirmed restest in the 15min or 5 min time frame. rejected at the orange line, i will be looking to short back down to 380-381. we may see a leg lower, but for now i will go day by day trading what ever charts we are given. be safe trading this market guys.
short term long.
This is how i plan to trade. above orange line i will go long only after a confirmed restest in the 15min or 5 min time frame. rejected at the orange line, i will be looking to short back down to 380-381. we may see a leg lower, but for now i will go day by day trading what ever charts we are given. be safe trading this market guys.
short term long.
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.