Post-market, Thursday, February 11, 2021
Good afternoon traders!
Our trend line for the past 20 days keeps looking up and stronger one day a time, on the other hand, we have VIX coming down alittle bit from this morning, after doing a tour at the 22 heigh, which is almost nothing compared with the levels we saw on the Robin-Hood like event of previous days, but enough to acount for the fall we had this morning.
The market did a quick tour to the lows of the current area, being rejected around the 3888 area, and then came back, close to the VAH, for what we have seen in past VAs, I'll say this market is getting ready to break from this area, but it will be kind of irresponsible from me to think to take a long form VAH is a good idea (as my mentor will say, do not trade the break-outs). I see one of two scenarios playing out here. 1) The market comes back, do a quick retest near the VAL before coming back, do a quick fill inbetween the previous wana be area, and the current area, and go higher. 2) The market starts to put some volume in the small gap stil in the VAH, and then moves higher. In any case, I'll long from 3895, wrong at 3877, TP at 3940. Ifg this market goes without me, it is also fine.
Our trend line for the past 20 days keeps looking up and stronger one day a time, on the other hand, we have VIX coming down alittle bit from this morning, after doing a tour at the 22 heigh, which is almost nothing compared with the levels we saw on the Robin-Hood like event of previous days, but enough to acount for the fall we had this morning.
The market did a quick tour to the lows of the current area, being rejected around the 3888 area, and then came back, close to the VAH, for what we have seen in past VAs, I'll say this market is getting ready to break from this area, but it will be kind of irresponsible from me to think to take a long form VAH is a good idea (as my mentor will say, do not trade the break-outs). I see one of two scenarios playing out here. 1) The market comes back, do a quick retest near the VAL before coming back, do a quick fill inbetween the previous wana be area, and the current area, and go higher. 2) The market starts to put some volume in the small gap stil in the VAH, and then moves higher. In any case, I'll long from 3895, wrong at 3877, TP at 3940. Ifg this market goes without me, it is also fine.