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Is it happening again at 0.618? (ES)

I only recently started paying more attention to the SPX so never really traded off of any of its levels before. I was already short the NQ and adding to the position the more overbought the ES and NQ was getting. I tend to have mixed opinions about my trades throughout, so I was just looking...

Almost to the minute!

Isn't this the 0.618 fib level of the SPX right here now? Could be a big drop shortly.

Looks like we could go a bit higher for a trend line bounce, maybe we see that range today, but I am still building into a short from Friday.

I am no expert, but if the MES is less liquid then it could be more likely to happen with the MES right?

That's why I am building up my shorts. But not too much. I think if it was going up, then it would have already. Not much follow through up so I think we we will see a retrace at the very least.

short again 11609

out +60 pts

Short here a tiny amount on the NQ

Agree 100%, but they can change gears back again later right?

Although this could get all the way up to the trend line around 4110 easily enough.

I will probably start shorting around the SPX 4008 level.

Until Oil goes up again and then starts driving inflation/rates again

Cant believe how much I left on the table today. I completely missed the 3900 area pullback I was targeting. What a huge daily move.

I cant see it lasting. I think in the new year things will start heading south again hard.

Thanks, really good point! I didn't even look at that. I might try and get on the train again. I just think that its gone up so much today already. A 0.68 pull back, or breakout above this level followed by a pull back to this level could be my next re entry.

I cant see it going up much more today. Not sure I feel like shorting now though either.

Fantasy or not. I think the people who were on the right send tend to speak up more here than the people who weren't. Which is understandable.

Perfection. Well done. For me, I am still trying to decide to what extend I was lucky, vs skill. The charts looked good to me, but if this has gone the other way it wouldnt have been great.