If I'm wrong, then I'm okay with it. A rally would be welcome as I would be happy to add to my position.

I have been doing this long enough to know: Being wrong in the short-term is of little consequence, as I will likely be right in the long term.

The end of day orderflow did show a lot of buying/short-covering. So, a rally is possible. 4k remains a very psychological level. Will be of interest what amount of gamma will be there on Monday and where the call/put walls will be.

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Posted by Hussss

Living the Dream

Member since Oct 2016

6753 posts

Posted on 9/16/22 at 4:37 pm to Trader82

SPY left a hollow red reversal candle

This could surely be setting up for a sell the rumor, buy the news Fed week.

This post was edited on 9/16/22 at 4:38 pm

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Posted by Jag_Warrior

Virginia

Member since May 2015

4181 posts

Posted on 9/16/22 at 6:00 pm to Trader82

quote:
I have been doing this long enough to know: Being wrong in the short-term is of little consequence, as I will likely be right in the long term.

Full time personal account(s) or are you with a prop shop? Don’t mean to pry. Just curious.

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Posted by JimMorrison

The Peninsula

Member since May 2012

20747 posts

Posted on 9/17/22 at 9:06 am to Trader82

quote:
I'm wrong, then I'm okay with it. A rally would be welcome as I would be happy to add to my position.

Yeah, I'm good with being wrong, too. The circuit breaker comment just caught me off guard.

Do you have an example of what would trigger it? That would be an amazing profit opportunity if you're able to predict a move like that. It's technically possible to gap down to 3620 area, but it would have to be unexpected news causing it, imo.

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