Post market
Looking back
- We have a piling on on the daily. The normal thing is to balance a little
- We get that liquidation break after failing above A
- Not easy to trade as there were news at this time
- I shorted near B low as it became clearer, so i was positioned for a first directional move
- Did not get a scale out because orderflow did not indicate
- Created a nice afternoon rally high with a volume peak in I period. Great place to get full size again if you are not already
- Given the flagpole on the daily i saw potential for second directional move. I stayed in position with a scale out at low of day
- Never reached lod so i closed in K. If we do not follow through there is potential for a short squeeze in which you do not want to be short
Looking forward
- We now put put the daily in Balance which is very healthy
- Sellers had chances for a bigger break yesterday as well as the day before yesterday
- A bigger break did not occur which indicates that the market is strong
- Balancing on the daily normally needs a few days of time
- Trade the next days in that context