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I cant see it dropping down now until after I close my short position out of boredom

I was expecting a bit more downward force there

finally

Especially considering how badly the asian markets were hit

Yeah that makes perfect sense. That is why I posted that image earlier, I really thought we would hit the moving averages today. It looked close on the image, but really it was hundreds of points away. I guess its long now for the shorter term and short for the longer term. I will probably just...

Well I was thinking of just taking the day off tomorrow anyway. So are you playing this channel then with that target? I'm too late now because I would normally start scaling out around those moving averages, but its a bit close already now.

I reckon ive missed the meat of the long yet again now! It jumped so much on the open

Catching the long and the short would have been best.

I was the total opposite. I missed out on the long all day but I was waiting for that short opportunity all day, so I was ready.

Not far now

Yeah I i closed my long position because I started to second guess myself after hearing all the hype about a big short opportunity. I wont make that mistake again. Although there is a tiny bit of downward motion right now I guess.

The PA and charts have been saying "buy" to me since early yesterday. Just out of interest, have any of the people expecting a huge shorting opportunity coming up today changed their minds yet?

Well, while I have only traded indices for 9 months I have been trading shares for a lot longer. I find indices much easier to predict. I have been, in my opinion, pretty good at capitalizing on trend reversals. Until this week. I have read quite a few books on PA. I was up until about 20 mins...

Thanks, I will look into it. Yeah that's what I read in that old book by that dancer. Stick to what works. Sure I could do that, but I totally believe fibs work too, I just need to learn a bit more about it. Right now I am using pretty small positions sizes, but I want to get over 90% accuracy...

Trading indices 9 months. I'm at 3000% ROI, with 80%+ accuracy. There is still room for improvement which is why I am interested in learning about Fib levels more. I have never tried fibs as part of my trading before, so its interesting. I have tried in the past but always found pivots to be...

Its interesting, but I must be using fib incorrectly, or differently. On every single time frame I could only see maybe 1, or 2 at a push, where any fib levels had a lower bounce off. If anything they seemed to support more upward bounces but again none were on a precise fib level. I did try a...

Thanks for this. What time frame do you use to calculate your fib confluence levels please? I have always focused on pivots along with s&r, but I want to learn about Fibonacci levels.

It does make sense. I am just struggling to work out the exact US/UK/Bulgaria time. Long story. I imagine that because the consumer confidence was higher than expected, the FED is less likely to be friendly tomorrow. So the long intraday rally we saw today quickly changed direction hard.

I am not sure, but I think the sudden change in direction happened when the consumer confidence numbers came out? It took my by surprise. I should have kept an eye out for it.

I like that theory. Although it would have to mean they have some kind of good news. Which I think is likely, just not sure what it might be. And as others have suggested, Tesla will share an update on the same day.