The top target looks more and more likely to me. However the tight range of the last 6 days has to break up or down decisively to motivate me to take any position in the indices.
I will be keeping an eye on larger time frames to see if they are giving me clues. Other than that real simple, doing nothing till the market does, maybe some tiny play positions.
I will be keeping an eye on larger time frames to see if they are giving me clues. Other than that real simple, doing nothing till the market does, maybe some tiny play positions.
Comment:
This idea maybe coming active today. I do want to point out the targets i have circled are about price at this point not time frame.
Trade active:
I did say a decisive break, after the failed attempt to go higher, now we test the lower edge. Trading the lower distribution to 513 now look good.
Trade active:
The 10 day range for the most part is turning into the megaphone I drew in first slide. We are trading at range top, and it could make a small new high again.
I will be trying to see a turn over to buy puts for trip back to range bottom.
I will be trying to see a turn over to buy puts for trip back to range bottom.
Trade active:
That was a crazy drop, hope you all got some puts after the tiny up move as mentioned.
Trade closed: target reached:
Going to continue this trade pattern into the next post