Hey guys, VERY happy I did not add to longs past $1300! You can see on the related link below I was warning of a better entry due to TA.
On the weekly Kagi we can see there is an opportunity for more momentum down statistically, however when looking at the oscillators we are in very oversold territory. It is at this point that a long position should begin to be established again in my opinion. So strike while the market has low volume!!
We can see on the weekly a chance for it to hit the 1260 range, however on the daily it looks like we are clearly near the bottom:
We may already see confirmation of support being established.
Current trend still appears bearish to me, but the fall is running out of steam. I'm sure buyers will be competing for a bid at this level pretty soon - at the very least central banks will. Please be sure to also note that the oscellators are pointing to an entry point opening up very soon. **Once the trend in the daily or weekly oscellators changes go long.** - if you are conservative then wait on the weekly STOCH/RSI.
Good Luck Trading! Make another million friends! :)
On the weekly Kagi we can see there is an opportunity for more momentum down statistically, however when looking at the oscillators we are in very oversold territory. It is at this point that a long position should begin to be established again in my opinion. So strike while the market has low volume!!
We can see on the weekly a chance for it to hit the 1260 range, however on the daily it looks like we are clearly near the bottom:
Current trend still appears bearish to me, but the fall is running out of steam. I'm sure buyers will be competing for a bid at this level pretty soon - at the very least central banks will. Please be sure to also note that the oscellators are pointing to an entry point opening up very soon. **Once the trend in the daily or weekly oscellators changes go long.** - if you are conservative then wait on the weekly STOCH/RSI.
Good Luck Trading! Make another million friends! :)
Trade active:
Still eyeballing and have not created a long position yet. With the earnings season this week I will be looking for perhaps next week..idk SPX takes up potentially enough time already and I'm batting 100% lately.
