My trading plan for today is this. The manipulation has panned
out as advertised with this overnight drop. If we hold the Friday's
range into the open, the gap should be bought for a day trade. We
may or may not post a one more higher high, as was the case on
11/14. Otherwise, we risk retesting the uptrend line around 11900
on /NQ and 4000 on /ES. That retest should be bought for a bounce
trade.
With a cluster of Fib resistance at 4100 on /ES, we might have
completed wave 5 of 3 on 4-hour charts. A pullback may not be
shallow into Thursday, when big earnings reports are due.
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My trading plan for today
I’m always amazed at days like this when the stocks ...
Posted by junkie on 30th of Jan 2023 at 05:01 am
My trading plan for today is this. The manipulation has panned out as advertised with this overnight drop. If we hold the Friday's range into the open, the gap should be bought for a day trade. We may or may not post a one more higher high, as was the case on 11/14. Otherwise, we risk retesting the uptrend line around 11900 on /NQ and 4000 on /ES. That retest should be bought for a bounce trade.
With a cluster of Fib resistance at 4100 on /ES, we might have completed wave 5 of 3 on 4-hour charts. A pullback may not be shallow into Thursday, when big earnings reports are due.