Jessi_trader
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Well sir i am in tube, as i went long market went free fall but my shorts are keeping me balanced. As some one said tomorrow is another day.
Well sir i am in tube, as i went long market went free fall but my shorts are keeping me balanced. As some one said tomorrow is another day.
SuddenDeath
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IG daily options dow. 560 put went from 5 to 174
SuddenDeath
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cya tomorrow chaps
P
postman
Jessi_trader
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First institutional investors like hedge fund will sell then pension funds and banks market drops sharply.
Then selloff pauses, retail investor starts buying thinking good price to get into rally.
Market goes up, institutions stars selling, market plunges, then algo press the sell button.
Now you can think which stage we are in?
Then selloff pauses, retail investor starts buying thinking good price to get into rally.
Market goes up, institutions stars selling, market plunges, then algo press the sell button.
Now you can think which stage we are in?
Higherorlower
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15,320-30 area on Dow would make wave 3 down, 1.6 x the length of wave 1, so that could be a minimum before we see a bounce up.
Jessi_trader
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Can you clarify 1.6 a bit
Higherorlower
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Yes, Jessi. Wave 1 down of this C wave completed early on Friday, during US trading, then moved up in a nice abc to complete 2. This wave 3 should be at least 1.618 in length of wave 1. This is a common occurrence with the Dow. It could be even longer, but we've already gone down over 400 points since Friday. Just might be a level to look for a reverse.
Jessi_trader
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Thanks, which timeframe you are looking into
Jessi_trader
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Higherorlower
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Jessi, just short term. I'm not very good at holding positions for long. If we are in wave 3, looks that way from the length, then we could have one last leg down after a correction.
If dc is buying, then probably worth taking notice of him
If dc is buying, then probably worth taking notice of him
Jessi_trader
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Jessi, just short term. I'm not very good at holding positions for long. If we are in wave 3, looks that way from the length, then we could have one last leg down after a correction.
If dc is buying, then probably worth taking notice of him
yes, true
dc2000
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DC buying is good as long as you know where your lolly is :
Easy as
tomorrow I will take FTSE long 373/75 area I will take the Dow 15339 area if I can get it premarket
FTSE will be a longer term trade
Dow 1st exit will be 15900
Jessi_trader
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FTSE will be a longer term trade ?? how long DC? any target? days, months? price?
Jessi_trader
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ok, I may kind of getting this if you are betting on Euro Vs US.
Anyway, my opinion is different completely.
dc2000
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final target is 7700 intermediate ones I will calc as we go time frame 3rd quarter will do
Jessi_trader
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Jessi_trader
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I am really amazed, but will defiantly be an interesting game.. lets see.
On that note, I have short position which I am hoping to close after July.
dc2000
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thats ok thats what makes a market
fwiw I agree with your quote re institutional selling just not yet
