Done.
And yes this zone is a potential pause point for this daily level down swing.
A bounce is expected from this area BUT not necessary.
ES Journal Archive (2011)
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Done.
And yes this zone is a potential pause point for this daily level down swing.
A bounce is expected from this area BUT not necessary.
If the selloff is controlled and well structured, you may have to wait til Friday / Monday weekend terror for that next down side target zone.
If the panic is for real, you may get it much earlier. All upto euro (and Euro zone bond and CDS mkts) at this point.
Target ?
I think we rally back to 1200 cash from this low
Then if 1200 holds we will print 1000-1010
Quote from Lawrence Chan:
Done.
And yes this zone is a potential pause point for this daily level down swing.
A bounce is expected from this area BUT not necessary.
You really think they will let every short stay on for the ride down with out a little turbulence ?
eur.usd green
20 to 30 pts from AH low is not out of the question.
The real issue is that if something happens, like a news shock of any kind, including stuff like nuclear power plant melt down in europe, japan, or anywhere else. Such engineered bounce will vaporize in seconds.
Not a doomsayer myself, countertrend from here is doable and likely profitable, as long as porper money management is used.
People in panic, and irrational actions can be deadly.
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