Well, turns out we dropped through Friday's -3 VWAP stdev extension against the long trend. Happier to look for shorts again...because this is quite often a sign of a trend change.
Going into tomorrow, I'm after shorts in the orange zone, longs in the blue zone. I want to sell as close to 2913 as possible, and buy close to 2890. Of course like today, it might not get to the outlier zones and might just retest 2900ish from below before heading lower. Either way, I kinda want to see another stab at 2900 before hopping into shorts instead of doing it from where we closed.
As always, wait for price action support at key levels...don't blindly jump into a blender just because price hits certain key levels ;)
Cliff notes: buy in the blue zone, sell in the orange one ;)
Going into tomorrow, I'm after shorts in the orange zone, longs in the blue zone. I want to sell as close to 2913 as possible, and buy close to 2890. Of course like today, it might not get to the outlier zones and might just retest 2900ish from below before heading lower. Either way, I kinda want to see another stab at 2900 before hopping into shorts instead of doing it from where we closed.
As always, wait for price action support at key levels...don't blindly jump into a blender just because price hits certain key levels ;)
Cliff notes: buy in the blue zone, sell in the orange one ;)