We had a nice Swing down. I said it I talked about it I traded it.... I said the REAL RESTANCE WAS 99.50. At that Point I knew I had to Cover Most my trades and WAIT.
Wed I had a nice trade, it worked for a while then Blew up... Oh well.
So we have a second swing an Upswing... Is it going higher.. I doubt it... but does that matter NO. I know I don't Know... But today we have another trade... a Trade of last Resort on this swing. We have seen the 101 level for Days.
I am Curious if we will get a BULL trap Above it... But what do I do.... I wait.. I want to see that second swing FAIL.... it has yet to do that. We have yet do it, and we have jerked around since the Fed. But my trade is to look for either a New high or to look for a Failure of that swing.
If we could trade 100.50... later in the day... there is a chance that we have a Failure, and a Failure of this Test of top.
I'VE said it Repeatidly... the most DANGEROUS PLACES TO PLAY ARE AROUND THESE STUPID FUCKING HORIZONTAL SUPPORT RESISTANCE LEVELS...
ALL THE FUCKING PUNTERS ARE PLAYING BREAKOUTS AND BREAKDOWNS....
THE MONEY IS PLAYING BETWEEN THEM.
If we have a failure here, we move back to 99.50... and then bounce AGAIN...
but there is not advantage to playing here... Maybe you could play upside with a break of 101.60 with a stop of 101.
or short with a move below 101 with a stop at 101.40 or maybe 101.30 or so....
this is not going to be easy... and being cautious is going to win the game.
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