First day trading in the new year. There seems to be considerable pressure to the downside manifesting with a large flag taking shape on the 15 min and 1h chart of /es futures. It may be best to try to capitalize on this (should more downside manifest) by using spy, but I’m not confident in the correlation between the two. It should be. If you get a close on the futures chart below the daily 3960 level, there’s been enough times you’ve seen a continuation to the downside manifest without every breaking back above a daily level. If you’re going to trade it that would be the way to do it. I could also be completely wrong, this is also a demand zone, so this could be the sign of accumulation here and a violent rip will take place. How many ‘Bear Flags’ have you been seduced into that haven’t played out.
You don’t have to win. Take a stance and make a decision. Losing is a good thing if it’s done well.
Had I entered on premises of ‘Bear Flag’ I would have been squeeze out. I am in premarket it is 7:28 am
Got in and got out. There was a spike in price action with a $TICK opening in an extremely bullish zone. I entered a bit late but captured a 3 point move. Fortune is on my side to start the new year. Do not squander it. Fortune will not last, and when it’s gone, how will you manage the storm.
AAPL, TSLA, NVDA,