1) A very important thing on here imho is to have a complete understanding of words and a common idea of the market. Many have enough experience, others are lesser experienced and so on, nobody's fault, each one has a starting point. On an intraday basis if u follow someone that
2) gives u levels or straight call is fair, not a problem, I also do it, but imho as I repeat since ever, most important is to understand the context of the day you're trading. What has happened since yesterday? We had a super sharp rally to ATH, guided mostly by retails in fomo
3) it was very clear from the sharp and bot dip on Monday. On that day I told I was "very bullish" at those prices. It was clearly a dip to catch liquidity from the weak structure below and from there we rallied circa 400 points straight. I looked for some PB along the way but
4) was impossible. This made me think it was a super fomo retail driven rally. No way to short it till the day after. I said also that because of the seasonality of it all + end of month + beginning of a new month, hard to sell but at the EOD yesterday at 480/505 where we took
5) short because of the too fast too far + VIX rising + EOD power action. Balance of it all was to look around 330 area, which was my second target on short move as stated ON. After that correction, sharp correction, the idea of a strong market was back in play for the already
6) stated above reasons I mentioned. This is why, the last trade here was given as "pullback". Imho risk is high for market at these levels but u can't play blindly shorting here and there and pray, need to find critical conditions (like yesterday's EOD) and proper levels or
7) wait for confirmations at critical supports' breaching. After recent PB price back up to 460 area, fading again. Personally I will wait for confirmations below or critical conditions above before eventually trying to short the most strong index worldwide in this season
8) and with a sharp recovery like the one we had at open which meant buyers were in control. Hope u understand what I am writing, as imho this is trading, all the rest is a sort of short term cheating that can't really help on the long run even if it seems easier on the short
9) term. What is the most important thing, last but not least, is having a step by step plan, living for the day, collecting points and patience in waiting setups + conditions + momentum. Bless you.
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