The market is doing exactly what it should be doing, after hitting those significant low points and bouncing to the first level of resistance...how what happens?.....
In all honesty I don't know....I knew to get long at 182, and out 188...but at these reflection points things get much harder. will it continue to 192..perhaps ...back to 182 to test the low or lower ...perhaps.....an intra day trader hopefully will see the pending setup and get in correctly.....or one could stay out of it.....let it over extent to 192.... if it does....and put a short out with a high level of confidence.....let it come down to test the lows, and again with confidence get long again.....nothing wrong in counting your money and waiting for the next set up
In all honesty I don't know....I knew to get long at 182, and out 188...but at these reflection points things get much harder. will it continue to 192..perhaps ...back to 182 to test the low or lower ...perhaps.....an intra day trader hopefully will see the pending setup and get in correctly.....or one could stay out of it.....let it over extent to 192.... if it does....and put a short out with a high level of confidence.....let it come down to test the lows, and again with confidence get long again.....nothing wrong in counting your money and waiting for the next set up