04/25/2018 Market Recap
Posted: Wed Apr 25, 2018 4:23 pm
Still, measured move up to be or measured move down to be, your guess is as good as mine.
At this stage, I knew it's range day (viewtopic.php?f=2&t=2845&p=253051#p253051), too late to long though because the target was the upper blue line, long here would have lower risk reward if the stop loss was below the day low.
The pullback confirmed the range day (viewtopic.php?f=2&t=2845&p=253069#p253069), so waited to buy near the range low.
Rebound strong and from higher low (viewtopic.php?f=2&t=2845&p=253075#p253075) (sorry missed this link earlier), so I knew it'd be measured move up, at least the bias was up. I'd wait for a little pullback to long though because the risk reward of buying right here wasn't good.
At this stage, I was too optimistic, bull looked really good though (viewtopic.php?f=2&t=2845&p=253097#p253097).
The close was not bad for bulls and indeed this bull had 2nd leg, just it's hard to hold such a big pullback especially the close was very near.