If you followed the projections of the S&P 500, you where able see live, day by day, how the pitchfork/medianline tools and framework is applied to the markets. And more important, how we as trader can rely on these tools and rules.
In the chart you see that the market swung up to create P4.
It's really picture perfect so far.
Now we approach P5. But know that we can't "predict" that
a) P5 WILL happen for surre
and
b) WHERE it will be, before the market turns north again
But we know that the probability is super high and we can expect P5 at least below P3.
A nice gift from the trading god would be a pullback to the prior support which was broken yesterday.
I always try to scale in, be it by futures, stocks and even options.
However, I will be very opportunistic and (partially) out of the trade when the market is not trading within the rule-set.
Stay focused and trade small, there will be plenty of opportunities in these markets. So there's absolutely nothing great in trying to be a hero.
In the chart you see that the market swung up to create P4.
It's really picture perfect so far.
Now we approach P5. But know that we can't "predict" that
a) P5 WILL happen for surre
and
b) WHERE it will be, before the market turns north again
But we know that the probability is super high and we can expect P5 at least below P3.
A nice gift from the trading god would be a pullback to the prior support which was broken yesterday.
I always try to scale in, be it by futures, stocks and even options.
However, I will be very opportunistic and (partially) out of the trade when the market is not trading within the rule-set.
Stay focused and trade small, there will be plenty of opportunities in these markets. So there's absolutely nothing great in trying to be a hero.
If we break through the CL again, put your helmet on. This would indicate a new target at the L-MLH.