Inside Candle WhipSaw
Inside Candle WhipSaw
This morning’s IP-L campaign has now been stopped out and per the rules we are supposed to be in a short position. Yup, I don’t like it either but it is what it is and the rules are the rules. So let’s strike this one up to paying the price of admission and revisit where we are:
Now if you go by the RUT be advised that it’s already dropped below the short trigger by quite a bit – if you missed the entry then you are advised to not chase it. The futures (shown above) are actually back above the trigger and any of you lucky bastards may actually catch a cheaper entry here (make sure to adjust your R size).
If you are wondering what the odds are – let me be clear: This is one of those situations that the wave wankers refer to as 1-2 hell – we may be starting a medium term correction or we may bust higher tomorrow. It’ll all be super clear after the fact of course but that doesn’t do us any good right now. I’ll be risking another unit here as this could have legs – the second IP entry has slightly better odds as the first one.
We’ve got some fine setups on the Forex front today – secret decoder ring required:
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Cheers,
