So we got the sell off, broke back into demand zone at 11800...
So we got the sell off, broke back into demand zone at 11800 - 11900. Today during globex broke out of it to reach 11700s range.
Looks like I was right about this rally being a bull trap. While many were shorting, I was buying cheap calls preparing for this rally. But when it came and shorts got squeezed, I exited calls after looking at the rally movement and realised it was not the rally I was waiting for and went back into shorts buying cheap puts while everyone was buying expensive calls.
It all paid off yesterday in a huge plunge that took out 3 days of relief rally gains in just 1 day. My puts flipped 50% - 120% overnight. What a crazy day.
We will see if we create a higher low, double bottom or lower low. My bias is a slightly lower low before we bounce and get that real rally. But you can never be sure in this current market and only day by day analysis can tell you what is about to happen.
That 3 days of relief rally cooled down the daily indicators and that means we have more room to fall now which is what I anticipated and warned in my video. So do take time and watch to understand why I came to this analysis of a short lived rally when everyone out there flipped bullish.
As always, trade safe & invest wise!
Subscribe to my YouTube channel for your weekly market outlook and technical analysis videos! www.youtube.com/c/investing101channel
Looks like I was right about this rally being a bull trap. While many were shorting, I was buying cheap calls preparing for this rally. But when it came and shorts got squeezed, I exited calls after looking at the rally movement and realised it was not the rally I was waiting for and went back into shorts buying cheap puts while everyone was buying expensive calls.
It all paid off yesterday in a huge plunge that took out 3 days of relief rally gains in just 1 day. My puts flipped 50% - 120% overnight. What a crazy day.
We will see if we create a higher low, double bottom or lower low. My bias is a slightly lower low before we bounce and get that real rally. But you can never be sure in this current market and only day by day analysis can tell you what is about to happen.
That 3 days of relief rally cooled down the daily indicators and that means we have more room to fall now which is what I anticipated and warned in my video. So do take time and watch to understand why I came to this analysis of a short lived rally when everyone out there flipped bullish.
As always, trade safe & invest wise!
Subscribe to my YouTube channel for your weekly market outlook and technical analysis videos! www.youtube.com/c/investing101channel
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102539156 Dan : Shd I sell off my Amazon n msft plus Tesla first
Investing 101 OP 102539156 Dan : can't answer that.. only you can. I won't comment on positions here on moomoo.
Ben 23 : Thanks for the warning master 101. I closed all my long position during market open yesterday and that saved me fron a lot of potential loses.![[undefined]](https://static.moomoo.com/nnq/emoji/static/image/default/default-black.png?imageMogr2/thumbnail/36x36 "undefined")
. I am a bit scared to go shorts at such extreme so I am waiting for confirmation of either a lower low or a higher low to form (which will be more bullish).
Investing 101 OP Ben 23 : im going long today. chances of a green day is very high
Mooooney Investing 101 OP : Thanks for the hint. Will follow and buy some.
TeslaSmurf : DAY by DAY, there’s no other WAY
Investing 101 OP Mooooney : do your own diligence. don't blame me if it goes south.. because I'll monitor and close if it does. if you do not know what you're doing don't blindly follow.
Ben 23 Investing 101 OP : Just to confirm is only a day trade and not because the bottom is confirmed.![[undefined]](https://static.moomoo.com/nnq/emoji/static/image/default/default-black.png?imageMogr2/thumbnail/36x36 "undefined")
Else, there maybe some that misunderstand that the bottom is in.
三和巴菲特 : The technical aspect is also a trap indicator, and what is more important is to grasp the hearts of the people.
Investing 101 OP Ben 23 : ya only day trade.. and need to find the right spot to long.. this is not yet the level IMO..
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