$13 support did not hold and shares are going south... I cancel the order I have entered a few minutes ago..... and I put new order to buy SDS (S&P Pro Shares Ultra Short) to the level of 103.15 with take profit at 103.55 and stop-loss at 102.90
Note that 103.05 is previous resistance. Also, SDS is short index S&P 500 with leverage 1:2 (=ultra). This is the same trade as shorting SPY index but leveraged.
SDS is at the lower right corner of the following picture. SPY (=index) is upper right and INTC lower left:
Here's what happened next:
The SDS trade has gone thru pretty smoothly so far.
Will SDS might attack the previous ressistance level 104.80 ???
Yes, as you can see it will:
Maybe it's time to wait for the scalp in opposite direction... as soon as buyers dominate the bid-side of level 2.