We breached a key level on the previous move down (a level that precipitated the previous 2 downturns). Moreover, with the market controlling the Fed there's not much upside. Went short the SPY tonight off of a key technical level. Tonight's high should be the line in the sand for resistance/possible support going forward.
Topped out. Went short tonight
- Thread starter athlonmank8
- Start date
USDCAD looks oversold here as well
Just for "shits n giggles"... Long 2012.00 TP High of June contract.
Short 2012.00 TP 1800 on index.. SL High of June contract.
Enter the above trades in simulation, and use it as test case..for both scenarios.
how did you short SPY overnight?
Anyways I took a jab on the short side as well....a long time in a while.
Anyways I took a jab on the short side as well....a long time in a while.
Opens @ 3am CT
TP taken at 25
At every significant point retrace keep doing this.. Till it doesn't work. Than you know price action has changed.
Or design a system that sims or autotrades, the trade pnl will tell you too.
With any intermediate term range expansion, the TP hit if bias is valid.
MAE or mean adverse excursion will be higher too on the invalid bias trades even if they hit short term TP targets.
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I see what you mean. Would you wait until 1800 TP to determine if the bias is valid though. I might be misunderstanding
No you can keep taking profits.. At nearest mental trip wire (support/resistance)
Just reinstitute trade with existing bias on retrace.
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Ahh i see what you mean. Thanks. Yeah