Watch for 50% retracement in the S&P
- Thread starter Petsamo
- Start date
I do not think we see any Fib retracement from here.
However I Guess market will be sideways, "" most likely in the range of ES 1050 - 1150 for the next 5-6 weeks """
Therefore , from here if it straight goes 20 -30 points higher, then it will be a good short. Once again I say if it goes straight, like in 2- 4 days...
if it goes 20- 30 lower, you should buy.
always with a good stop loss since we all know you can never ever say what happens,
I do not want to initiate any new position where this rocket is now....
However I Guess market will be sideways, "" most likely in the range of ES 1050 - 1150 for the next 5-6 weeks """
Therefore , from here if it straight goes 20 -30 points higher, then it will be a good short. Once again I say if it goes straight, like in 2- 4 days...
if it goes 20- 30 lower, you should buy.
always with a good stop loss since we all know you can never ever say what happens,
I do not want to initiate any new position where this rocket is now....
lolIT means that at this price I do not want to initiate a new trade, I only open a new position if the price goes 20- 30 point lower or higher and I will fade it since I am anticipating that ES will fluctuate in a range of 100 150 points for awhile ... I believe that the straight going up time is over,, we are going to be in a side ways movement for a while...
My plan is also a half load position , not more than 6- 10 point stop.....