Ugly follow thorough day in the market after market broke summer range.
Not your everyday garden variety type sell off here, You get this type of sell off every 3/4 years. Intra day 15 minute chart shows the intensity of selling last two days.
Notice how market was selling off every spike into 9 EMA and VWAP. Now we have an oversold market and sitting on some support. Doesn’t really mean any thing if panic exists but after this huge sell off trader needs to watch for a dead cat bounce with proper risk management strategy and trading techniques. If we have another down day i will be watching for some type bounce on Tuesday, if market gaps up, do not go chasing the market, wait for some type of setups. Use the 15 minute chart above to see how market reacts around that 9 ema.VWAP resistance. Be sure to take profit while you have it.If you are struggling with your trading or learn how to trade you need to join our 60 day Bootcamp course. Our program is designed in such a way that you come out of it ready to trade live in just 3 months. We teach you everything from risk management to scanning to trading strategies. I also share my profitable intraday trading strategy which will make you money short term regardless of Market condition. The class is one of a kind, see why you should sign up for the course here . You will also have access to a private community where you can ask questions, share charts and talk with the instructors or other traders. You can also check out the testimonials from our students.
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