- , but as I wrote it last week, it has become a too much. Market is stretched here, Price is too far above Kijun Sen, so it is still extremely overbought! Short squeeze should be over soon, and some profit taking may take place. This will not change setup, but we may finally see a healthy correction.
- Heikin Ashi shows momentum started to drop. Lower candle highs, smaller candle bodies, but still no lower wick! haDelta printed an extreme high las week, this is a warning signal for an interim top too!
- supports (and possible retracement lvls) are: 4500-4530 / 4400+ / and ultimate key level is 4350!
- After Draghi+China all in, market started consolidation ard 4600+ level. Pull back has not yet started, but it is possible to hapen within few days.
- As you see, support is 4500-4530 area.
I think first we'll see 4500-4530. If price popes again from that level, then the next thing we have to watch if a higher or a loIwer high! If no higher high, on the following wave we'd see more correction towards 4400.
SPX chart I don't post this time, they move in tandem. I think NAS100 is a better candidate for counter short.
I enterred short in Nasdaq100 Dec/15 .
BUT! What is more important to reflect at!
How the hell can you allow yourself a 40 % loss of your account????? If you trade without a proper risk and money management plan, you may have chance to recover this loss, but that yould give you a false reinforcing feedback again, so I can tell you 100 % sure you will kill your account pretty soon!
You must keep the basic rules, otherwise this activity is clearly not for you! Trading with leverage and without stop loss is straight way to lose all your money! That is one problem if you trade on a false signal. The bigger problem here is that you defenately took too much risk, and you did not manage your risk at all. What you do is "hope trading", or ranther gambling. Make your changes to your concept as soon as possible, or before it's too late!