S&P futures down 30 here.
I went in for a long Bounce Trade on the S&P.
I have a 1% stop loss.
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I am on webull platform. I am hoping market will open negative, so that I can buy SPX because 10 SMA is very far away from first bar (oversold). You agree?
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If we open this far down, it makes sense to sell whatever short-term short position you have.
If it continues to go down, oh well. But getting caught on a dead cat bounce is a sure way to wreck your profits and force bad trades.
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