ES hit Fib 23 extension of the down turn yesterday and bounced. It tried but couldn't hold the double bottom . It came down to the Fib 50% Fib RT of April 18 break out. The 50% level held today but didn't get much of a bounce. It is hanging on the edge of a big gap between 1592 - 1605 created on May 2. !590 area is also an important Fib 62 level. It looks the gap will very likely get filled in the next two days considering Friday's job report would drive the market go either way.
I shall exit couple of put sale positions tomorrow if the possibility presents. My positions of 1580, June 7 and 1560 of June 14 are in danger.
One lesson is to look at bigger picture and levels to determine entries, not let the daily small movements to drive my anxiety and frustration.
I closed a SPY put with near 100% but lowered my target again. A bad habit need to be corrected. My call of SPY is under water now. Overall this pair should be profitable.
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