This is a personal log of my journey in the trading world. I use it to come back and see what I have thought and learned from calls so I can make better calls in the future. I share them with you for constructive feedback. This is not financial advice.
We have hit resistance at the 61.8% fib retrace line twice which would indicate a short term "double top". My idea that "One More Up before the Real Down" I believe played out, however not to the extent I was looking for. The recent decline in bad news is bad news for the market and depending on volume and how fast the initial drop is will determine which support I aim for. I will also watch the VIX for the level of fear in the market. The question is "Just how bad can it get this time?"
No one has forgotten that the global economy has been halted for the last few months.
We have hit resistance at the 61.8% fib retrace line twice which would indicate a short term "double top". My idea that "One More Up before the Real Down" I believe played out, however not to the extent I was looking for. The recent decline in bad news is bad news for the market and depending on volume and how fast the initial drop is will determine which support I aim for. I will also watch the VIX for the level of fear in the market. The question is "Just how bad can it get this time?"
No one has forgotten that the global economy has been halted for the last few months.
