Today was a tricky pro gap trade if you didn’t put together a good game plan.
On the surface it was a large gap lower but it was primed for the fist move to be higher off the opening print and that is how it played out.
The 50% fib retracement level was near $195.25. This was the area we called out to look for the first short-sale entry but it never got that high. This was actually good news of you were looking for the short. This meant the buyers couldn’t push it high enough to change your bias.