ok sorry for all the posts with little content. At this point we are hitting our target zone and should have a high probability for a test at the 930 range.
I will re-add shorts with 40% exposure and will enter my first short via futures here as well.
Will post updates as I take positions but wanted to make everyone aware to look for updates soon. I have 2 time targets 11:45-11:50AM or 1:25-1:35PM.
what a trade range. Feels like 1:00AM in the mornings on a "normal" overnight session.
ReplyDeletewhat is your view now. think we have seen the HOD or still expect rally around 1:30 PM? Thanks.
ReplyDeletequite honestly. No clue, this range here is very very surprising to me. Chart is saying more upside (no sellers), but not sure what to make of this.
ReplyDeleteVery low volume (short week) so we may just see this being pushed up all week without any stop in sight.
But no idea to be honest ....
Chris, I should of took your advice and hedged myself on my UNG play but now I'm getting smacked :( Are you still planning on coming back to go long?
ReplyDeleteRyan, it happens, and hindsight is 20/20. its very difficult to trade from a down position as emotions play with your mind.
ReplyDelete"I was down 20%, now I am only down 5%, just another 5% and I am back to break even, why would I want to sell now/hedge against that other 5%".
Whenever I am in a down position, ask yourself, if you "HAD" to make a trade from scratch with said equity etc, how would you play it? Straight long/short or hedged as short term targets could offset your long term exit plan.
From here, not sure how I would play UNG, I may try the 14.00 again but the risk for <13.50 would be a bit too much, will wait here before making a decision.
ok not doing anything. Waiting for tomorrow before opening any new positions here.
ReplyDeleteYou were referred to me by one of my followers
ReplyDeleteI Like yur work and we may be able to help each
other
we are both on HOLD as of 2pm today July1st;
its supposed to be an E ZONE day for whatever thats worth
I am expecting a severe sell off on MONDAY
Dow lost 618 fibo points
june 11 dow 8877 to 23rd @ 8259
and gained back 310 pts 50% to 8560 yesterday & today
THEre is POTENTIAL for a 1000 pt loss on MONDAY
IRAN could come apart at the seams, or some other international event
WAVE1 618 pts X 1.618 = 999 -WAVE3
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Jay