3 TF trades, all winning.
1st trade was more like a scratch. 2nd trade was a disaster - got carried away and ignored 400 support. Sat on a near 7 point loss at one point. Had initially wanted to get out after trade went against me by 5 ticks but didn't get filled and price shot up by 2 points the next moment.
I decided to just sit coz all my charts were telling me a bearish story, and TF was trading below pivot throughout. Besides price was trading in a range, and that gave me some assurance that it will come back to near where I entered.
So, no sweat for me, but D was sitting on the edge of his chair. When I got out with a 4 tick gain, he was so relieved he asked for tylenol (somehow the release of tension brings on migraine in his case).
I had not held on to the position for more profit coz 400 was precisely the place where TF could go up on a double bottom formation (and it did go up). My plan was that if indeed it were to continue to go down instead, I would get in after TF has closed BELOW 400, that is of course after it's pulled back to that level to test it as a valid resistance.
Missed the trade coz I was busy with something else, and it wasn't the timeframe that I would trade. Anyway, when I returned at 1pm EST, TF as gone back up to trade above 440. My plan was to short it at fib retracement level 38.2 or 50. Fortunately I didn't, coz 1min chart failed to give me a sign when TF reached that 2 fib levels, and TF indeed continued to trade up.
However I managed to get in for a quick scalp at around 1:30pm est.
TF ended up testing the high at 448 and went beyond it in fact. And on 5min, it closed above my slowest EMA and traded above it for a while.
It's clear that this is no longer my game, and momentum's lacking both going up and coming down.
Time to call it a day. Profit: USD 115
1st trade was more like a scratch. 2nd trade was a disaster - got carried away and ignored 400 support. Sat on a near 7 point loss at one point. Had initially wanted to get out after trade went against me by 5 ticks but didn't get filled and price shot up by 2 points the next moment.
I decided to just sit coz all my charts were telling me a bearish story, and TF was trading below pivot throughout. Besides price was trading in a range, and that gave me some assurance that it will come back to near where I entered.
So, no sweat for me, but D was sitting on the edge of his chair. When I got out with a 4 tick gain, he was so relieved he asked for tylenol (somehow the release of tension brings on migraine in his case).
I had not held on to the position for more profit coz 400 was precisely the place where TF could go up on a double bottom formation (and it did go up). My plan was that if indeed it were to continue to go down instead, I would get in after TF has closed BELOW 400, that is of course after it's pulled back to that level to test it as a valid resistance.
Missed the trade coz I was busy with something else, and it wasn't the timeframe that I would trade. Anyway, when I returned at 1pm EST, TF as gone back up to trade above 440. My plan was to short it at fib retracement level 38.2 or 50. Fortunately I didn't, coz 1min chart failed to give me a sign when TF reached that 2 fib levels, and TF indeed continued to trade up.
However I managed to get in for a quick scalp at around 1:30pm est.
TF ended up testing the high at 448 and went beyond it in fact. And on 5min, it closed above my slowest EMA and traded above it for a while.
It's clear that this is no longer my game, and momentum's lacking both going up and coming down.
Time to call it a day. Profit: USD 115
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