Pullback for Cash $$$
2 months ago
3
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When you have a strong area with the 127 Fibonacci line, don't be afraid to load up and take the trade.
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In this case, I took advantage of the "pullback" on the QQQ when the market came back up to that area, and decided to short it (Put Option) for quick profit.
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I took a secondary retracement Fibonacci from the high to the morning low to get a good idea where it was going to retrace before I jumped into the trade.
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Normally I will have multiple confirmations. But because the market had been so bullish recently, I did not. I figured a correction was due.
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However, as always, I had an appropriate stoploss in case the market went against me.
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0/2000
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