Evening Update: Today I'm grateful I have Trading Rules

2023년 1월 25일

This morning as we were headed towards the lows I decided to close all my short call positions and go flat. Am I bullish? No Am I bearish? No. The uncertainty, with so many counts on the chart, some of which we were coming into the target box, caused me to go flat. I share this with you because as you analyze markets, I want you to trust your intuition. Most of all, when you can look as a chart and say, I'm unclear on the direction....get flat.

I'm still flat as of writing this update.

I mentioned in an update earlier that when price breaches 4055, we're going to 4300. I want to add 1 small caveat. The big red trendline. I want to see price breach 4055 and the red line.

Let me explain, when I get into the 3 min fractals this looks like an ABC a-wave off the lows of today. I know it looks impulsive but with the price action I have now it looks like a 5, 3, 5 right into the 1.0.

Therefore I'm still torn between purple and black. #PRICEPROVEIT

Best to all,

Chris

2023년 1월 25일

노트

Also the P/C ratio is 1.25. This means fewer than normal traders are prepared for downside. 2.0 I would consider traders prepared.