In previous example we've mapped out the risk of a full squeeze. It's also possible we do a shallow squeeze pattern. If we were in a shallow squeeze pattern, we'd be into the end of it about now. Exiting all my bull longs trades / hedge orders. Would get back in if we broke 4110.
Starting to re-build a short under 4100 and over 4070.
Comment
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Pending orders to go long 4090 - 4080 w/ stop 4055.
@gata9aigata9ai, This idea would have had me stopped out on the high. Flipping bull got me stopped out for small profits (Would have been more but there were gaps in the CFD markets that stopped me getting out higher on some of my entries).
Tbh, this is sloppy work in general. After-the-fact I can see various spots where I should have done better (Like, I should have had profit targets 4130 - 4140 into the 76 retrace of the last downswing).
But the overall thesis was we're in the last big bull trap before a serious change in market conditions. If that's correct, 100 points are not a big deal to miss the entry on.
JoeChampion
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great work, fundamentally you are right too!
Laurent10
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Hi...this thing (S&P) wont come close to 3880......
holeyprofit
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@Laurent10, I think if will go under, but it's our different opinions that make a market.
Laurent10
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@holeyprofit, absolutely.....but today/now's a good start - it must continue going down now, the whole week. DJ gotta beak 30k sooner than later...and S&P your number 3880
holeyprofit
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@Laurent10, Might hit 4200 - 4250 before heading lower. Still chance of higher move IMO.
Laurent10
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@holeyprofit, Hi....Hi...after yesterdays movement/s I am DEFINATELY expecting some more downside movement. IF the markets (DJ/S&P) don't 'crash/correct/reset' now they never will. I expect the DJ to break 30k this week, and the S&P to break 3900,and if not this week because of some stupid 'cat bounce' or whatever then surely next week...... "They" are always looking for a bounce opportunity, but I certainly see yesterdays move a start to the so-called "crash" Sure eventually it will hit 4200 and above but surely not now..... Thanks Cheers
holeyprofit
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Pending orders to go long 4090 - 4080 w/ stop 4055.