I'm focusing on the larger down move that can occur at this point:
An area (red) that I will look to trade short in, between 8015 and 7980 with 2 targets in mind
7930 and 7815 (green)
However, if there happens to be a move down at this week's open, I have a level it bounces from at 7910 (yellow). Targeting the SELL area above it.
Despite these forecasts, while I'm trading I'm still ALWAYS open to sentiment changes and will reverse on a dime -- sometimes I may even take profits sooner, then let opportunity present itself again before entering back into the same directional move.
Less and less, I'm trying to NOT to predict the ultimate direction and more so the best probable move for capturing profits in the shortest time period. Although these larger cycles will present themselves, it only serves as a 'bigger picture' guideline.
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Target 1 HIT!
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Target 2 coming soon....
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Hit that SELL AREA twice now. Let's see if it will get to that Target 2 level now.