Before someone says.....hey Dave, this is after the fact analysis.....let me assure you that these levels were known BEFORE the open. Any current S/R Levels subscribers here at TradingView will be able to attest to that.
But the important points to make is not just the levels, but reading what the market was doing when those levels were approached. When prices rallied on the open right into 4604 they were unable to gain any upside momentum DESPITE The VIX selling off rather robustly. That was KEY OBSERVATION #1 and a 'signal' to consider getting short with very tight stops.
Prices fell off fairly hard shortly after....plenty of points up for grabs.
These same levels will be in play tomorrow - no 3 card Monty here.....those are the levels....trade 'em.
Dave
But the important points to make is not just the levels, but reading what the market was doing when those levels were approached. When prices rallied on the open right into 4604 they were unable to gain any upside momentum DESPITE The VIX selling off rather robustly. That was KEY OBSERVATION #1 and a 'signal' to consider getting short with very tight stops.
Prices fell off fairly hard shortly after....plenty of points up for grabs.
These same levels will be in play tomorrow - no 3 card Monty here.....those are the levels....trade 'em.
Dave