Yeah banked puts in open and did the cawl crawl. An all-day grind through miserable chop to close the gap.
Most likely to gap down again and run lower next time. No position; damned daily PA has been utterly unpredictable. Every play a crapshoot but the PA is bearish and forms breakdown pattern.
Trade active
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Shorted EOD. Let's see.
Comment
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Banked shorts. Indecision day. NQ weak. Flight to quality in DJI followed by more weakness. Distribution phase.
Trade closed: stop reached
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Well my goodness. Fortunately did not get caught short. All the moves are gaps!
So,did you still see the trouble top 4300? I still see a up before the big drop, and gold need a break higher, dxy need a lower low. Maybe short is not very well now.
DaddySawbucks
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@bonnenul, why would it go higher? it's a downtrend, this was nothing but countertrend move for liquidity
bonnenul
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@DaddySawbucks, yes, but i see a up before the final big drop. the final wave C up
FiboTrader1
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@bonnenul we are in wave iii of iii down. 4300 is also no feasible, due to the 20 sma on the monthly having curled over below 4300. much more selling coming and anything above 4100 is not in the cards.
Petrichor_
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@FiboTrader1 wave iii of iii? That sounds like we’re near the bottom once iii of iii finishes? Or will it/can it be a significant drop? Would love to know your downside targets. I’m uncertain as to whether it will stop at 3800 and turn around or go to 3400 and possibly lower.
FiboTrader1
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@Petrichor_, my wave iii of iii target is 341. Looking at long term target of at least 294 for end of wave v
D5139516
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About tad less than half of my monthly signals are now bullish with just over half remaining bearish. That is this markets way of letting us know not to get too dogmatic and to be patient. When the market is going nowhere fast (11 months of going nowhere) that is a signal to me to wait and be patient :)