Easy day, right?
Clydesdale Longs had a field day and came out of the gate snortin and tootin and never looked back.
How about you, how did you play it?
On the sidelines, easy to be cavalier and make observations.
When our own money is real and at stake, a different story.
Simple test for you: If your goal is to make money, is it better to be creative or to have a rich knowledge of history?
My plan today:
I will know I am right if:
I will know I am wrong if:
Half time I will look to make adjustments.
No matter what, when I am wrong I will preserve my account by having a MADD; a maximum allowable draw down.
Look for 1508 as resistance for a pullback.
Mid day: Hmmmm… not much of a pullback; any day high. “I think I am wrong about the rotation short.” Trailer for longs is 1502. Intact, the shorts likely will be squeezed to test the 1508 to 10.5 high, and target is now 1511.25.
The blue line is still beneath us, so edge still to longs.
We do have the right to interpret new information as it becomes available to us, don’t we?
3:21 E: T2 today 11.25, so advised longs to take profits #EMWS tough day if fought this … no rotations kill average (in) traders
Why not? 1511 is hit, marginal high. Why not take profits longs? On your own now, using 12.75 as resistance for scalping short, try for the 1508, possibly the 1506 /IB breakout zone if lucky. IF LUCKY.
Late contras advised out in the 5’s and say yeehaa #EMWS
If you had a tough day, obey rules. Get stop loss back is first goal!!
Likely you missed long, right? Not aggressive enough?
The reality of today’s trade was aggressive longs won, aggressive and conservative shorts lost. Only the most patient shorts made a few chips the hard way, against the push.
Not all days offer reasonable opportunities. We often need to chase trade on days like today when the market is squeezing.
Doing my best to help build traders, one day at a time.