Wednesday, February 18, 2009

Buy, Pray & Wait

Stuck AGAIN!

Solfest is writing in his own comment section. And I have been talking to myself for the past 3, 4 hours now.

Traders sure are a lonely bunch.

I've managed to turn a scalp into a daytrade AGAIN. Am still in trade. I liked that thing there on the ES Hourly that is technically NOT a hammer (length of candle's shadow must be at least twice that of its body to qualify as a hammer), but looks like one. Anyway, it has closed above both support and wedge, and I think that's what I liked about it.

If ES visits 786 again and breaks below, I'm out. Targeting for 797 - 804.

ES Hourly

Yes, I'm trading against trend AGAIN. Not bottom picking though. I can't sell, and my charts and tape are telling me to buy, so I BUY.

Why am i justifying my trade???


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