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exactly my play book for next week short above 6000.. long above...

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primaus72

3,229 Posts.

96

06/09/20

13:54

Post #: 47122890
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Originally posted by bensh10: ↑

I suppose Friday night's low should somehow be reflected in our actual market as well, perhaps some time next week - be it Monday or any other day.

I don't have charts in front of me, but I recall 5770 or so is the 23% fib consolidation level. For bears, that's the first stop in a downtrend; or alternatively if you are a bull, then you say 23% is a healthy consolidation. NASDAQ also bounced from a similar level. Either way, I think we will see the 5750-5800 region very soon.

One the other hand, there is an opening gap (~6000) to be filled; and that gap is doomed to boom.

So take your pick. For me, if it drops to 5770-5800 region, I liquidate options and close my small CFD short position. On the other hand, on any upcross, I will switch/open CFD longs targeting ~6000 opening gap.

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exactly my play book for next week short above 6000.. long above high 5700s.

The never ending vic lockdown will obviously impact sentiment as it is much worse that expected

XJO Value at posting: 5,925.5
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