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I could have imagined more traction on the short-side as they started to liquidate, but they did not continue
Staying objective we have to say: We are still otf up on the daily
Condition
We open with a huge gap down Gap takes out 3 days of risiing prices, closes the up-gap, falls below monthly vwap
What to stay away from/thoughts
I have no idea what will develop from this gap
A quick liquidation? A bigger liquidation? Buyers coming in buying this?
Overnight inventory is short
We are coming in near the lows
I do not follow large gaps early
Check volatility and size
Condition
Strong pullback in M-period that continues in the on session
We open with a small gap up
What to stay away from / thoughts
If we see acceptance above y range there could be more buying
If we see acceptance in y range there could be a continuation of selling pressure or some Balance
Yesterday sellers became clearly visible relatively late (with the "roll over" in E-period)
I was maximum bullish at the white ellipse
We filled the gap (which also was vwap) and then showed strength
But the market made one big hook in c,d,e,f and shook people out
I donīt know if that was by design, news driven or both :-)
I called it a day early as i felt that it is too wild/random/indecisive
Trading is very timeframe dependent. Sometimes your timeframe benefits sometimes it would habe been better to be a bit smaller or bigger in timeframe. For me the most relevant trading timeframes are
Scalp
Day-Swing-Trade
Overnight Swing-Trade (maximum 2-3 days)
I mostly operate in no 2, sometimes no 1.
At the moment i do not take overnight trades
Done for today with target at virgin poc
That was a great buying opportunity in that context
These AMT sayings are very powerful. In that case: Sometimes markets have to break before they can rally
Chart would look better if i would not have let me shaken out in that last trade
