I'm talking a lot about the near term, that's because we entered so many short term calls and have done great on all of them so far, a couple are still waiting to fire and this "bounce" should do that.
However the bigger picture is really using any market price strength to set up short positions or take TECS for example, a 3x leveraged Short Technology ETF that I have as an open long which is still at a profit, but this is an example of the bigger picture or the strategic view and how we can use short term market strength in price any way as a tactical advantage to setting up the strategic trade.
These 3x leveraged ETFs tend to move in this situation, last, in a reversal, first because of their leverage, smart money and ourselves) want to be in them as close as possible to the take off.
This is a 15 min chart which is a very significant timeframe for institutional money flows and TECS has seen very strong leading positive divergences, that's the strategic view.
The 5 min chart is institutional, the earliest timeframe in fact and its ready to go so its just intraday charts, but in terms of the big picture, looking at the 15 min chart, yes I want to get the best entry possible, but the big picture is that anywhere in this area is fine, it's just easier with leveraged positions to be as close as possible so you don't have 3x leveraged normal intraday drawdown effecting you emotionally when it's not a real problem.
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