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Cobra wrote:Flat open, gap if any will be filled. I have a setup with winning rate over 80% that was failed yesterday (remember I gave the target and stated that's my secret in yesterday watering thread?). Well, that setup isn't over yet, as I checked again last night, most failed setups in the past, the yesterday's low would get revisited in just a few days. Of course, there's always exception for every setup so although I'm not convinced by yesterday's later day rally and kind think the last couple of 60 min bars are exhaustion bar but if the market simply keeps up today, I'd be with bulls. The market is always right, the only thing I say to it is for sure: Yes master; Certainly master; As you wish master.
Institutional actions, not bad.
huge gap down/up, I usually use 15 min or 30 min open range breakout to confirm the stop loss, that requires some experiences. The yesterday's case was actually I put wrong stop loss value in the table, it should be the 06/16 lows so shouldn't be stopped out. I'm now thinking of using 2*ATR(10) as the stop loss as the current stop loss is way too subjective.up666 wrote:Good morning, Cobra. I noticed you adjusted your stop of SSO for the short-term trade. Do you have the list of rules posted somewhere for the new readers like me to start with as well when following the short-term signals? Thanks!
BullBear52x wrote:GM,
From my read Bears fear not. this bounce will be sold. well, short term momentum is strong but the level of resistances are so great, just take a look at the BB, this time mid BB will be very important for the Bulls to move forward, on top of that we have Fib fan and FIb retracements resistance to name a few. it could just well be a gap filled be fore a continue trade down, daily vix is still stay above 200 dma.
bbc wrote:Cobra wrote:Flat open, gap if any will be filled. I have a setup with winning rate over 80% that was failed yesterday (remember I gave the target and stated that's my secret in yesterday watering thread?). Well, that setup isn't over yet, as I checked again last night, most failed setups in the past, the yesterday's low would get revisited in just a few days. Of course, there's always exception for every setup so although I'm not convinced by yesterday's later day rally and kind think the last couple of 60 min bars are exhaustion bar but if the market simply keeps up today, I'd be with bulls. The market is always right, the only thing I say to it is for sure: Yes master; Certainly master; As you wish master.
Institutional actions, not bad.
Yes Cobra; Certainly Cobra; As you wish Cobra.