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Yes kh, angry with myself for letting myself get sucked into that 2010 resistance last night, I thought they may drive it back down for a change lol, at least I was on reduced stakes for expiry madness…still angry with myself though…
theyll probably push this right up in the pre-market too, but takes a brave man to buy a plus 52 day (so far).
so that’s +100 in 2 days…. Well done those who were long.
? x 7 =56 its getting harder to get into this site I tell you !! 🙂
Oil potential double top target of 53.5ish mid week low if trend cant hold ?
I am at this point contemplating……. (Watching the trend line)
short dow
short es
short oil
short dax
all on quarter stakes….. Eggs and baskets etc lol
Yawn….. Just woke up to spoos +20 ?? Wow proper shorter trap from yesterday….. Glad expiry stakes are only 25% norm…… Bah humbug lol
ha ha…. in the flip side a Russian withdrawal from Ukraine could be light the rockets touch paper…. expect the unexpected lol….
these ranges make the Himalayas look small !!
Was nice to see the spike ride all the way back down to origin, back up again has surprised me though, back to this 2010 level again. +43 on the day and at 2010 resistance. its oh so tempting to short the resistance overnight, byt the trend is your friend..or is the range your friend, or is expiry your friend, or maybe there are no friends just risks……. doesn’t feel like we’ve had the capitulation bottom yet, but maybe we wont get one !!??
if there is doubt… then there is no doubt cimac, sitting on hands and doing nothing is the hardest trade of all ! (for me anyway).
For the very reasons you state I have taken my long scalp profits and will wait and see. This last week of latest move suggest it will be driven to lows for expiry but as you say it could as easily flip the other way, yesterday some bloke says he’s thinking of standing as a candidate and whoosh +10, to go to +25 or whatever it was, then lost it all, that dos make me wonder how much of that was short covering . It also has me wondering how low the market could have gone without said catalyst – seeing as it gave it all back !!
traps all over the place, it’s like a mine field…..
I agree cimac, I think of interest will be what they have to say about current oil situation and if they perceive it as a stimulus or otherwise and what this will do to the timetable regarding interest rates.
As for not trading till post FOMC, I thought the same…. and then went long…couldn’t resist it, stopis in at B/E and see what happens.
who said expiry week was dull !! do we really have 2010 double top with a 1960 mid point targeting 1920 ? daily 50% retrace is about 1945…….
6 daily candles to take back to 23-26 candles worth of daily gains. Goes to show that there are no prisoners !
38.2% retracement on spoos daily approaching, see what that does. looking for volume capitulation…. its like getting into a known infested water every time I do a trade at the moment, lol piranha, sharks and sea snakes ready to take you out…… expiry makes me twitchy lol…..
