Seems like we will have a turbulent Monday with IG trading already at -3.09% as I am writing this post. This might be a very short trading day. If nothing changes in the next 8 hours expect futures to be halted immediately after open at circuit level 1.
Scenario A: We hit circuit breaker 1 and then continue downwards breaking the lower channel line. If this happens it is very likely that we continue down further because of long liquidations and hit level 2 or even 3 and take the Monday off.
Scenario B: We get some of the "good" news we were waiting for before market open and shoot up hitting 19.8XX before crashing down again. It would be another perfect opportunity to place a better short if you went in in the middle of the channel.
People who hold longs over the weekend better make sure that your margin can support a drop up to 15.000, otherwise you might get liquidated.
Scenario A: We hit circuit breaker 1 and then continue downwards breaking the lower channel line. If this happens it is very likely that we continue down further because of long liquidations and hit level 2 or even 3 and take the Monday off.
Scenario B: We get some of the "good" news we were waiting for before market open and shoot up hitting 19.8XX before crashing down again. It would be another perfect opportunity to place a better short if you went in in the middle of the channel.
People who hold longs over the weekend better make sure that your margin can support a drop up to 15.000, otherwise you might get liquidated.
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Yesterdays scenario played out perfectly, here short entries for this week:
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The senate passing the bill will do another up-move, just see which channel it hits and then short everything down again. Seems like this week will be very easy to trade again.