Well I knew it would break soon one way or another, just not quite that quickly. This further confirms for me this is a temporary Bull trap, timed precisely to hit the majorly declining 20DMA and the 200DMA retail indicators to ensure it doesn't get away from em. I am closing my quick little long here as we struggle to hold above either. Glad I caught the bulk of...
Long story short (no pun intended!), I am long above 8350 and short above 8100. We are moving south on the LTF as I type so my bias is on the short side slightly, but will be watching price here and how it responds to the slightly increasing 5DMA (think yellow), increasing 50H (dotted light red), and current pivot point (not shown). Break below or poor price...
I'm shortin the shit out of this for a short 8% but fairly high leverage gain. We are bouncing WEAKLY on the All Time High (ATH) Anchored VWAP level (pink) this further confirms my suspicions (and Institutions' confidence) that we're gonna see a dip into the all-important 2018 Low VWAP (blue) which is NOT coincidentally positioned at this exact point in time,...
Many are unaware of the Anchored VWAP tool and that is unfortunate, because this is a critical marker for large institutions and their orders. When anchored to significant market events, such as 1st trading day of each year, Highs, Lows, Election days, etc; this tool gains even more usefulness. As Brian Shannon, who has popularized the tool amongst retail traders...
