Swings and scalps

Just keep measuring the bigger waves if they respect retrace levels.

Gold should go down if stocks go up, I'll stop if it does, but I'm at breakeven.

Correlating well on the 1 min for the most part.

Often a rejection of the 161.8 sends it sailing to the 423.6. Possible short but perhaps too aggressive. Watching. Long presently still.

2nd rejection. It hasn't made it quite to the sma 50 o the 5 min so I'll pass on this entry short.

Now the 50

Another head and shoulders, this time on the SPY, reason to hold my long and not enter short on gold ,despite the 50 fib level.

Still inverse although my 1 oz of gold is a little choppy.

VWAP bounce on the SPY, maybe gold will head down.

It would be interesting to see how much in the day it correlates, the bell likely the highest, perhaps tapering off.

The confluence of resistance points at the top arrow is what I am looking at. Just giving the move a little more time.

Bitcoins tie to the USD correlated with the jump in stocks, crude, and gold drop.

For some reason my short entry stopped out a minute later so I lost money on bitcoin, it was supposed to be my safety hedge.

BTC is right at the 423.6 from the first butterfly fib. Not going to short here but perhaps on a pullback.

This shows a good example of 161.8 reject and then sail to 423.6 like I said about gold earlier.

Perhaps the correlation is not a strong 3 hours after the bell.

Chaos theory in the works.

With how much is has spiked will it come down soon? More long term analysis pending.

The long I have has become a swing trade it looks like, but I want to set a long entry at a longer term retrace level, or a short at an exhaustion point. Both would be best. I need to get used to trading both directions simultaneously, especially if like this current move I could have gotten in with a really tight stop or breakeven short even though I have an open long position.

The sma 50 approaches. This spike down happened really fast. The only way to cash out on spikes is to manually trail the stop while staring at the chart or set a target, logically a fib extension makes sense, but which fib, there are so many?

What I did to enter this long is watch the spike blow through extensions until it was way oversold, then just hit buy and moved the stop to breakeven asap. Afterward I noticed that it happened to be the 38.2 of the large move. Should have seen that earlier. It was in a matter of seconds, but this is no excuse for not having a clear picture of the market.

I will mull over what is best so as to not loose out on big moves like this. How to catch spikes. This one was a head and shoulders pattern at the peak of overboughtness, but there are so many spirals with different levels some were weaker that others. However, old trendlines get respected later on after they have broken sometimes. Same is likely with the fib spirals.

In this case price stopped at the larger fib retracement, good sign for continued upward momentum, it blew threw many exhaustion points as the time stamped posts show.

Good place to get in if it turns out to be a bull flag.

Wouldn't be surprised if we hit the 23.6 level. If momentum persists it could hit it where the arrow is.

The fib levels are holding here although there is still some downward pressure. Is this little fib the first sign of reversal?