Starting it off.
Al
DU
Duane
Rep: 100
Posts: 1,095
Looking for shorts amidst the gulf tension seems to be unwise. Short at .58.60 or 50% ret. Stops at at invalidation above 60.00 TP 51.00 . Decent ROR if achieved. I should probably waited for Median line touch and conformation, had orders in, away from desk. C leg > 1.618 . Warning
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MA
MarcinO
Rep: 67
Posts: 5,506
At least I am not the only one trading counter-trade now.
Originally posted by Duane
Looking for shorts amidst the gulf tension seems to be unwise. Short at .58.60 or 50% ret. Stops at at invalidation above 60.00 TP 51.00 . Decent ROR if achieved. I should probably waited for Median line touch and conformation, had orders in, away from desk. C leg > 1.618 . Warning
MA
MarcinO
Rep: 67
Posts: 5,506
Sure, Duane. I didn't mean it's crazy or unreasonable. If you/I know what is going on at any given moment, trading countertrend from time to time isn't odd. I guess, it requires much better set-up than standard 'go-with-the-flow' approach.
Originally posted by Duane
LOL Thanks Marcin......I think? :)))
MA
MarcinO
Rep: 67
Posts: 5,506
BTW Nasdaq gets some going to the upside now, after the 3 Drives before RTH close.
MA
MarcinO
Rep: 67
Posts: 5,506
10 points to the zone. Then we will see.
Originally posted by MarcinO
My best case scenario for a supposed current corrective wave is a reversal at 7680-90.
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MA
MarcinO
Rep: 67
Posts: 5,506
50 points reaction right of top of the resistance zone. No other charts. I am working on the two areas posted yesterday.
