Levels & thoughts for 2/22 Wednesday
Do we keep going down? or find new chop 100 point chop area.
Traders, We had wonderful day with enough opportunities for every one on free twitter, sub stack and private telegram to get on board on this down move. Here are the thoughts I gave in yesterday’s post that was published to send out exactly at 7 pm in the evening and short was provided right 7:13 pm against our magical 4076 number when price was 73 which went up to 74.5 for every one to get on the bus and again provided opportunity after Putin speech at 70.
“Bears in control below 4091. We have defined solid bull bear as 4076 and it remains important line. So far shorting 4091 and longing 4076 has been paying. But I would be careful below 4076 as it can easily take it back below 4052 and then to 4032 and more.
Currently I had private twitter short against 76. This setup is valid as far as it keeps working. You scale out half at +6/8 and then 3rd at 12 and runner at 12 if you wish or keep trailing it.”
Econ Tomorrow:
2:00 PM FOMC minutes from last time. This is not meeting, just minutes
6:30 PM FOMC member Williams.
Generally I suggest to not trade night session from 10 pm to 2 am chop. If action has to happen than it will happen before 10 pm or after 2 am EST. You can generally play edges to short and go long after 2 am. But get out of the way if it rips thru edges and wait for new opportunity or flip. And of course never add to loser and better yet cut it and reset.
Rest of the content is for paid sub stack users and is also shared with users on private twitter/telegram.