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Nice thats a change in stance for ya? I wont chase it cause were close enough to a temp overbought imo i expect at least one good pull back before it rips up, so gap down ill be on board with your plan.
Otherwise im gonna get near term close to X puts for bear relief if we gap up. Will see even the most solid plans get flipped upside down on the spot. Should be a decent swing week.
Could be. I would consider getting calls on gap down maybe thats to predicatble and will just crash tomorrow ha!
For me its cutting loose a bad trade and taking profits to fast.
i see your explanation here never mind. going to check it out.
Cool im going to look into IFB theory. do me a favor respond to this post with the post # that has a good explanation of what your seeing. thx
Just a thought about picking spots i think we hit a tempoary overbought* edit monday afternoon or tues morning 60 min that will get walloped the next day.
But the long term daily slow stoch wont be done being a recking ball to bears until it makes its full cycle to overbought (still has room).
My game plan is to load short term puts when i see temp overbought trigger and sell them on a sharp decline. And reset with longer term when the ss on daily is fully overbought. Scalp both ways intermediate.
This seems to be the senerio for alot of traders yesterday. Bulls n bears both got smoked.
Bulls didnt have enough conviction and ditched there positions early. And bears got excited an more then likey added to there position in the morning.
Soon enough will be overbought and will all be on the bearside celebrating watching this pig roast.
50 is on deck with enough windup to tag 200? Room on the Slow sto on daily along with few other bullish confirmation vol,macd today suggest we get there imo.
My plan is to scalp calls till the tide turns on 60 min then ill look for a swing trade entry on Puts with strike close to the 50 MA
No dice Unless you use the nanosecond chart that fractel always comes to play on days like today:p
I wont be in puts till this sucker is deep in overbought on the daily has bit of room still imo. Also would need to see weakness on 60min chart. I expect more upside at least for the beginning part of next week.
Same! Other then a decent scalp today it was a roast. Till next week!
ahh didnt read through all the messages. Sounds like a good plan.
I found them to be helpful in combo with slow sto, and only 60 min and higher time frame. gl on the appl trade!
tough decisions this morning but i bailed on my calls. just scalping for the day. how bout you?
I might get back into calls when the dust settles. Just had to much risk on that trade to let it ride.
agreed, decent delta on them too. SPY doesnt have to move much to get us some greens.
up on my 192C for now. Glad i finally got one trade today to work for me happen to be my original trade. Decent recovery think we still have another up day.
nice, i def over traded. But i have mid oct exp same as earlier. going to hold.
likewise, having a tuff day back here. Although im not taking big hits. I got stopped out 2 already. In calls now.
might be. Still think by the eod ill take on some calls looks like no momo and fear are back on deck at the moment.
grabbed some 188 p for a scalp.
decent volume on green candles. but i dont like how there not letting it reset on the stochs on the 5 min. seen this a few times and usually ends up ugly.
sounds like blast! Alps are amazing i went snowboarding there took me almost hour to get down.
good job
stopped out didnt want to take any chances kept it tight.
welcome back!
I dont like when they dip and didnt let the 5 min go all the way to oversold before pulling back up. Stay nimble.
nice
lol i was thinking of mystery of chessboxin
The game of chess, is like a swordfight....
" may roar" tiger style?
Yup 5 min slow stoch is almost at oversold hopefully it tags and goes back.
I grabbed some oct 16 192 calls will be keeping tight leash on them just in case your scenario develops
I think this is letting the smaller fractel oscillators cool time, then head up.
Agreed, (when part) is a big factor so i will allow some time to develop mid oct ATM or even in the money since the move from here to there is not huge want the best D and T for any calls.
thanks
I see room to run on the daily chart. Bottom Bollinger band flattend out stochs slow n fast are still oversold and pointing up. Seeing another tag of the top of the bb. 198/199 imo ill be looking for a good entry on calls tomorrow. Gn all
Do you think this cycle tags the 50? Sto h look like the have alot of room imo.
Looks like i will miss this pop up. Should be back at my office tomorrow.. Happy profit taking to u sir.
Good point. I think its all about using probability to favor your trade. Timing is key bc of the point you mentioned it can stay in a overbought/oversold for longer then you like. But odds are better for a good reaction move in those two extreams
I was just looking at stockcharts slow stoch. Its ripe ready to turn up. If i get a shot before its to late i will load atm. I would be more creative if it was ob loading puts