Big gap up, fade away to break yesterday low, then huge come back in the last hour trading after the $TNX close. What a volatility. I really hate the market action here. Before 3pm, it looked like we are going to close low and have potential to break the H&S shoulder in the next two days. Now there is a lot of uncertainty to me. In the 60 minute chart, it looks like a falling wedge which is about to break up. I guess bull has the potential to test the falling 50MA again. But if we close in red tomorrow, I will initiate some short position again.
Yesterday Cobra mentioned buy yesterday close and we close in green today based on the ISEE index. Wa, it wins again for the 7th time, which still keeps the 100 percent winning rate. I thought it would fail in the intraday. Now I am amazed!
I have given up 5 percent gain in the last hour. Lucky that I am not a late short, otherwise I would be burned in the last hour. Lesson learned today.
1. Pay attention to 3PM, when $TNX closes. A lot of dramas happen from here.
2. When having good profit, set trailing stop to protect profit no matter what. Half profit is greater than a tiny profit and lose.
3. Pay attention to the fibonacci. 114.14 is the 23.6 number. Yes, we have big bounce from there.
No comments:
Post a Comment