Very volatile day on the TAPE today. Something we have not experienced in a LONG time.
For me, volatility may provide for more reward however it’s offset with more risk. Due to this, I like to size down to keep risk wider.
Strong opening drive off RTH open. Dip into the intraday pivot (7338) held really clean, however, it happened way too fast to get a fill.
For me, I did not want to initiate trade till 7395-7403 which was presented later on in the morning.
First trade came once we saw a failed attempt to bid 95s + HOD which was enough for me to short the market. Trade worked immediately missing target by a couple of points before a spike up that stopped me out.
Second trade came once I saw a failed attempt to shift value into the 7395-7403. Once I saw the risk establish itself, took the market short which once again worked immediately in my favor. Was able to scale out at 85s which was a notable area intraday and final con stopped out BE before it continued to drop.
Overall good day but a dangerous one for people who are not willing to adapt.
Everyone wants the market to drop after a non-stop rally but are unaware of the increased volatility + risk that comes with it.
Cheers everyone 🥂!
@deltadynamics_
Market doing a more old school risk off move ... treasuries a bit of a safe haven bid. Oil down 5%, those oil bulls have to be losing their minds at this point. Just a straight up liquidation. $SPX filled the 5/6 gap... that was fast.
We've had 5 waves of vol expansion today and I'll say, at the risk of being wrong again, that this is overcooked at this point. Vol got to some pretty extreme readings. Nearing a LOD I think. (edited 12:26pm ET)
$SPY #ES_F #NQ_F $QQQ
Sit back watch, watch vp on dom and watch market profile, 1day, week, 2week, few month composite. Learn to build composites, sit on hands and look for areas to engage with profile, read the profile books, understand the type of daily profiles, balance, opening drive etc etc, understand auctions are a part of everything in this world
A good day today with 2 trades. Really paper handed that first trade though😐.
Seems like we are just going to balance here now. HAGD Everyone! @deltadynamics_
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