The times that I can remember entering a trade off a delta zone of support or resistance and then having to bail fast at a loss is when unexpected news hits. If I have sold positions into a return of price to a delta NET Short Holders zone and price then bounces off everything is fine. Now if unexpected news comes out that causes a major shift in sentiment just after I entered the trade, I will then see realtime aggressive INITIATED buying through the delta zone of resisitance (as the zone of sellers frantically bailout of their held inventory). This is the type of scenario where I would have a few points loss as I rid my positions during this INITIATED buying rush, which causes the zone to quickly go neutral.
Inverted head and shoulders on the SPX?
- Thread starter fantastic4
- Start date
With everyone single person in the world now a bear, I just have to look for an up day on Monday. Futures aren't helping, but atleast support 1 is holding so far. Also I notice that on Friday the bears weren't even able to break the trading range to the downside, doesn't show a lot of strength in the bears to me. I think those were brown bears and not grizzlies.
I have used the retest of 717's to cover my final positions in the ES at 716.50........that is good enough (moved target up from 712.50). I have also just covered another level of Rydex Inverse S&P500 positions in this area with the ES trading these levels. I do not have any more ES positions and I will use any additional big down legs to cover Rydex at this time......so no more fixed targets, will use price action only to scale out last Rydex going forward.
That was one heck of a ride to get the new yearly lows I had been looking for in the low 700's to high 600's area........market is still a mess and who knows how ugly things could get. :eek:
Quote from AMT4SWA:
I have used the retest of 717's to cover my final positions in the ES at 716.50........that is good enough (moved target up from 712.50). I have also just covered another level of Rydex Inverse S&P500 positions in this area with the ES trading these levels. I do not have any more ES positions and I will use any additional big down legs to cover Rydex at this time......so no more fixed targets, will use price action only to scale out last Rydex going forward.
That was one heck of a ride to get the new yearly lows I had been looking for in the low 700's to high 600's area........market is still a mess and who knows how ugly things could get. :eek:
Very nice trade AMT!
Captain obvious moment for me, you reached 712.50 today too!
I don't blame you for covering at 717... I was trying to get long there.
Stone
Last set of LONG scalps worked out great (market ran as high as 724's....cool).......playing the 706's for LONG scalps this time.Quote from AMT4SWA:
Thanks......heck even scalping LONG moves off the 712's/713's here.....this is fun today.I have had some good LONG intraday delta signals with each new low.....keeping me busy this a.m.
Also, just covered another level of Rydex positions with the trading into the 706's. :eek:
Buying some 705's here too......looking for 710.00 as first primary scalp target......will be thinning the position out on any trading up to 710.00.Quote from AMT4SWA:
Last set of LONG scalps worked out great (market ran as high as 724's....cool).......playing the 706's for LONG scalps this time.
Also, just covered another level of Rydex positions with the trading into the 706's. :eek:
