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Good point. I gonna be hunting for some puts hopefully in the AM.
yessir just waiting on a entry for LT puts maybe ill get some on the next bounce.
yeah the breakdown is slow. Im out of all my positions at the moment, having a good trading day just taking scalps. love the intraday swings.
If i see more weakness on 60 min ill think about a longer put position. MACD is just hanging on above 0 line. im looking for a breakdown there to confirm.
hanging on by a thread here. will she turn or burn?
wild if this kicks into high gear. Im not saying it will but i bet alot of short position started today could squeeze to 204 or the 200MA
nice trade
Going to grab puts for next friday around 201 if we get there.
prob bounce here this current candle can close inside bb. if not more pain
back inside the bb on the 60 mm
lower band is still pointing down suggesting more selling.
spoken like a true bear. im just scalping so ill gladly take that bounce just to add puts. GL
yeah calls here are high risk high reward if we get that bounce to hold.
nice looks like it might be a good scalp
right now were on the outside of the lower bb on 60, ill post when i see a move back inside of the band. if any bounce on the 5 min ill grab some puts up top.
SPY sauce
just watch the 50d on the daily for possible pivot.
gonna need more huggies
there is still some techs that haven't broken down completely. Think you maybe right but gonna be cautious here.
It wont last long imo. I just wanted to clear the deck and look for a new entry on puts.
whats your thoughts?
Out of 200P at 2.50
profit
Out of 196P .20 ave of .50
loss
yeah there seems to always be a disconnect with "reasons for rallies and reasons for declines" i think the market is just trading technically.
IMO if we were oversold at the moment bad news would be good and the market would rally.
now were overbought so bad news is bad news and good news is bad news. just my theory.
You bet sir. Yeah def more reliable on the higher time frames.
There def not a new tool for the trading world and i had a pass with them too back when i traded equities i just tried them on 5 min and smaller and got whipsawed to many times so i just bailed. To me i love less. So the more comfortable i feel infront of the charts without clutter the better.
So using them again has been experiment and one i will prob stick with for longer term fractals.
I didnt have to eat my words thankfully haha.
Ill tell you the longer i use the BB on 60 min the more i'm impressed. It cant predict direction in a pinch but we can use other indicators to help favor our trades. ie. overbought bb band on the 60 is pinching tight chances favor a down swing like today.
I put my money where my mouth was and still holding puts. This event on 60 is pretty impressive if anyone cares to look back. This is same formation before the epic aug plunge. Not saying it will repeat that dramatic but the selling pushed the bands to spread apart (top band pointing up and bottom pointing down, and closing price today is outside the bottom band. there is prob little more fight in the bulls before any major move, just check aug 19 on 60min huge head fake after what looked to be a failure.
riskon, danny, imiloa, usdollar, bet, and paulw thanks for making me feel not too crazy and seeing my opinion as sound. GN all.
boom nice trade
good catch
prob a smart move BET I think it will be a strong move either way we go here. Not going to be bias. I have puts so my trade is based on way way overstretched run that needs to cool with bb pinched.
But this can pop off like a rocket. Stops are in place.
think she is toast. And i will post back and eat these words if im wrong.
GOOD luck all.
Big move on deck BB are pinched so tight. Which way will she go?
You were right on here, Im surprised. Still curled down at the moment
added 200P oct 30th ave 1.99 from the ones i had yesterday
Going to look to add to my oct 30 200P at this AH gap fill.
They may try to fill the AH gap down from last night. 201.68 ish
sure does. I will post if i see a change in the top bands direction. Right now its not flinching.
i will load puts if we visit that top band again and if it remains flat golden for good selloff.
very true but unlikely imo because once the top band has been solid in this case pointing down since yesterdays close it will struggle.
opposite example If you roll back to 10/7 on 60 notice the top band was curling up before every candle suggesting top wasnt in. It would take insane momo at this point to change that how it is now.
Think next leg down after they float it around toying with both sides. for reasons i said in the last post to you.
I agree. I think this is gap fill then resume plunge. 60 min starting to breakdown.
Yeah they have very little room to move around here though. You still have your bb setup on 60 min? very tight. Big move will be coming soon, last time we saw it this tight go back to pre aug 24 on 60.
GM soldier
Thats a pretty specific number. You could prob recoup alot of your loss if play some cons with a better delta closer to the money or even in the money doesnt appear at first look very appealing because there are less cons however this way dollar for dollar your con will move with spy. Just a thought. keep us posted.