Give up half of morning's profits on aggressive bets on reversal. Oh well, can't be right all the time. Still up alot for the day :) Cheers!
Gamble what you can afford to lose!
If it's down a couple points from 35, then I wil admit error. But there's so much support on the way down to 35, there's no more momentum downward to really worry about. I can absorb 10 pts from 35 and still up for the day.
Knew entries were early, but oh well only a couple points. Will wait for a double bottom, which I think is coming up soon, then, I'll add positions. Don't think this retracement will pass 42-44. Good place to exit for the day.
51.25 is simply a former support line, now a resistant line. Had that drew on my chart today, just in case. Actually, a close below 60.00 is confirmation that intermediate uptrend is broken. Next support line = 35 something.
Actually, uptrend was broken yesterday. Today's the confirmation. Should always wait for confirmation, otherwise, it's pure gambling. The way it is trading today is pointing to a lower close. But anything is possible in life. Keep those stops close :)