Unique wrote:Shorted NQ 4600, stop = 4609. If this short fails, then we gonna have quick squeeze to 61.8% fib level = 4614 that I talked about yesterday.
loaded some PUT QQQ too. Stop is intraday high
NQ closed as hourly bull,bear,bull setup just now. We're in the same boat, looks like we can't bust out the champagne early. Gotta wait another hour
Off topic:
Tried Uber for the first time in Toronto last night, great experiences throughout 4 rides. Now, how do I make money off this?
How do I artificially short taxi licenses in Toronto, too late?
Bears want to end as low as possible today for the monthly full bear bar candlestick. This would bode well for the next two months since the roadmap
would be straight continuation down in August or an inside month first to consolidate at lows then try 42.41 and below in September.
Obviously, most of the easy money is gone already since this run came from 58 -> 47 support. Now, we're dealing with 47-> 42.4 in the immediate swing term...
Weekly CL has been red for past 7 weeks, so price is a bit oversold on that. Maybe we get a week or two bounce to form Lower Highs for the better bear re-entry.
Overall, you gotta be cautious chasing here if you're a bear. I played the easy money from 58 breakdown to 52-50 immediate target a few weeks ago.
Like I said last month, once we broke the inside monthly range bars 61.82 vs 56.83, then we were destined to have a huge breakout one way or the other.
still have a couple hours to go ... could doji.. morning star the weekly(next week)... agree the monthly is awful.. triangle.. 60m... fwiw...
2nd test of day high, 40% chances of double top, we'll have to wait.
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fehro wrote:INDEX days.. UUP bouncing between 50d/20d ..
Good time to long Oil?
six weeks in red is a reason.
tricky.. monthly oil is candle ugly.. today.. weekly inverted hammer.. could bounce chop for a few weeks.. or just tank.. the USD tho seems a tad weak....
bulls must do something here, the blue line below unlikely will hold another test.
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