📉 GAPs are unfashionable and it tends to get closed. Well, that gap has almost closed and I'm not FEELING great!
➤ Big reversal in markets as equities bounced after once again gapping lower at open. Price is heading back to the support level (that should be re-labeled as resistance).
➤ I had strong convictions that the gap will be filled. Despite that, I quit my long positions at a loss. This was to protect capital as I saw the possibility of a binary outcome: either VIX would explode higher or collapse lower. I don't like binary outcomes despite being only 40% wrong most of the time!
➤ As a result, I'll be watching from the sidelines until after the Fed rate decision on Wednesday. I'll get over the loss by then.
➤ My exposure is currently 0% with no positions. The maximum portfolio exposure is +/- 200% on capital, the level of highest conviction.
➤ Conclusion: Looking forward to the next profitable trade opportunity and learning from another loss.
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.