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Agreed, I still think the overnight increase was a bit too much to maintain momentum for the full day though, and there looked like areas of weakness ready for a short position. I had also marked exactly where we are now as a short opportunity last week, but I cant remember why now.

Nothing wrong with having a bearish bias in a bear market, especially with so many bearish signals too.

Was that a huge short squeeze or someone trying to prop up the market with huge volume?

couldnt stay away :-)

Best way to be. However I am leaning bearish right now because we are up against some strong resistance here and the markets have already made a huge move up

Literally sideways for hours since I posted this. Could still be valid but its taking hours to decide either way.

Another potential trend line reversal here

The probability of 4350 seemed high to me! Until that bounce down off the trend line today.

could be a new low overnight or tomorrow now

Well it could still be in play as the NQ has slithered its way back above the fib level again

Well it clattered right through that level and even the fib levels. Bloody glad i stayed short from 13600 now. If the ES broke the trend line, I would have stopped myself out

Thats interesting. I have never thought to look at overbought price levels. What does that usually tell you?

wow ES managed to stay just below the trend line still

NQ smashed through resistance and trendline now. Looks like ES is about to do the same.

Plus a bit of an hourly trend line touch

Managed to get short right at the top there, but if its like last time this thing could shoot upwards suddenly again Mind you, on the NQ I think that was a double fib line so could be a resistance level

Good point. My golden rule is to always protect what I have instead of worrying about what I am missing out on, so I am generally way more cautious than I need to be most of the time. Friday was a bit different though because the market was being propped up into the close which made me...

Did it hit 4200 at 4:20pm?

Apologies, I misunderstood. I assumed when you meant max leverage, you meant the total amount of leverage available to you in that moment. In that case, I think you are right. However (and I am sure you know already) it depends on how confident you are and on current volatility etc.

no, you can still make gains without betting the farm each time.