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I occasionally have a "wishlist" trade, and the yellow zone above currently qualifies. I like the risk to reward potential, after a major 5WM, ABC, and then reversal breakout. If prices can retest that area then reverse, that would be my trade of the week.
Until the Iran issues are resolved I am anticipating at least some upside pressure to remain, expecting major short positions to be cautious in that particular market.
I just established with myself that regardless of the fears, past experiences, emotional garbage, wimpy confidence, dealing with the unknown... that I do believe it is not only possible, but can be probable, to make a living trading.
I have also established that the reason I make money at smaller size is that I do actually have rules that I follow, even though I do not recognize them as such because they are "feeling" type rules. When I up size the rules get re-written in real time, and that is what is frustrating me. I break rules that are not written...that I do not even perceive as rules. I a working on converting those intuitions into words, and those words into rules. It may mean going to an indicator based stop until I am strong enough to do it without, but have written some strategies to backtest various indicators as stops to get my head around the concept.
I was able to figure out SuperTrend for a lot of uses and am running tests as I type this.
" I will follow my rules, I will take my stops, I will be disciplined and i will work with the market....NOT AGAINST IT! Professional mind control is the key"
Flatt on the last two for +50 ticks. Man i got a feeling this market going to drop today, looks like the pull back to 85.22`s. Waiting for a break blow 84.46 to see some direction
" I will follow my rules, I will take my stops, I will be disciplined and i will work with the market....NOT AGAINST IT! Professional mind control is the key"
I closed on a high volume bar (photo added, the volume was not "stopping", so I am not sure why)
+40, then reentered for a -20ish loss, then reentered for a 16-17 +, quit. +48 I think.
I already told myself this morning that it was going to be a fight in both directions, so why I would think it would be one-way down I don't know.
But, I am just pushing buttons in my head lately, changed some screens from black to white aka vader to Jedi, moved things, take trades and just watch them sometimes...
I see just by the news sites that crude went up, not down. It does that sometimes.
Hope you got some mileage out of your trades today.
I had meetings and did not see this in action, but there was a strong refusal at the prior support line, also an inverted 386. I am more interested in the short side now than I was this morning.