I am looking out for a bottom today. EUR has already bottomed and big reversal confirmed my time cycles
Rest of The Financial Markets shall do the same today.
How to enter: aggressive posture: higher risk, higher reward: when your favorite stock or index, takes out 70.7% of today's low:
Moderate posture: when yesterday's close was taken out with the retest
Conservative posture: When yesterday low was taken out with 70.70%.
For example, with first rule, RIMM, PCLN, AMZN have bottomed, DECK about to do so. etc. etc
Where to put the stop, low of the today.
Last 2 hours of today price action is the ultimate determinant. We have not entered the market yet. I am waiting for last 2 hours and especially last hour to tell us that where market is leading to.!! I use, 2-3 strikes, out of the money option, depending upon the underlying price.
