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Holy sell off batman! What started as just a trade from the market breaking the morning range to absolute waterfall price action! I got out at the 1st green candle on the 5 minute, even though VPA didn't support a bounce, but I didn't want to get smoked on an aggressive bounce. This could have absolutely cratered more at this point but working on not being greedy but taking more of the move.
Solid anticipation of a big move to the downside with the Non Farm Payroll announcement today as it tends to pull the market down significantly lately. Far out of the money, was about $10 out of the money... complete value trade, low risk with high upside. Entered shortly after the morning opening green candle failed the $551 level and entered when it broke $549 convincingly. I got out when it couldn't break through the $542 level convincingly.
I've been trading un disciplined lately, shooting for home runs and watching profit dwindle. The setups award 100% or near it often and need to start taking it more. obvious breakdown after the open, confirmed with 8am MDT news. Took confirmation on the 3 min candles. got out with the rejection of the morning lows and couldn't push through. Entered breaking @ $557.50 exit bouncing above $555.50
Entered with my value 15 delta option anticipating a possible monster move as it broke the bottom range, morning low, and market follow through crashing all at once. It started to show solid support at $558 which was session lows yesterday and the market started to show bottoming here too so we took the 100% and ran.
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