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Re: 123tom post# 28609

Monday, 09/30/2019 4:40:19 AM

Monday, September 30, 2019 4:40:19 AM

Post# of 34626
Funny you said "So putting all this together, looking at trade set ups, I'm looking to buy around 5 support and be ready to take some profit at 6 resistance.
Maybe it will stretch those parameters a little, so I buy at 4.75 and sell at 6.25."

Since I got 5.33, but not 5.07 yet, I've been thinking since Friday close, what's more likely, a push back up toward 6 again (and perhaps test a bit beyond) … OR … down to 4.50.

Let me qualify be saying "I've been wrong before", but I just can't see much below 5 without any "orchestration" (if you know what I mean).
That's not saying that it can't be orchestrated again (WHY for God's sake other than pure greed), but whether I get 5.07 or not, I think the push toward 6 seems more likely.
If it does go below 5, I think buyers will come back in at any opportunity below 5.

Your 5 to 6 parameters are about what's in my head, a bit below to a bit beyond, but that's why I'm trying to trade that 5.30 to 5.70 for now, because I'd rather leave some on the table in both directions and "make sure I get the round trip", then try to capture every penny and miss out because I missed the turn.
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