Quote from lolo24ca:
MY GOD ..I LOVE IT.....ONE IS BULLISH THE OTHER BEARRISH. WE'LL SEE BY THE END OF THE WEEK WHO'S RIGHT... THE MARKET WILL DECIDE!!!
PS: my weeklyPPs calculation indicated a resistance (R2) at 804.50 and 808.30 by the end of the month....just a though
GOOD TRADING
Lolo,
Big Tug O War here between Bulls n Bears. Yesterday was down early and came back to close slightly positive, today it appears to be the exact opposite. Was up nicely early, and then weaker, moved up again, now weakening. The day aint over yet though, volume is also running lighter compared to yesterdays.
One other thought, a few down bars, then an up bar, portends either further upside, or just a pause in a further decline. I'm watching the weekly chart closely to see if it remains inside last weeks range.
I believe your stop was a little tight, especially on your initial entry. Have you ever considered a volatility stop, in conjunction with position sizing? There will be other opportunities either way.
Good Luck and Good Trading in the future!
Kelly