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1 - Short at 46.60
2 - Covered at 46.30 (Overnight missed my target of 46.05 by 3 ticks ughh...)
3 - Chopped up and down
4 - Frustrated and left one long at 46.20 with 20 ticks advantage but opening selloff took out my stop at break-even
Didn't dare to trade the report
That's my day in a nutshell.
Edit: With all this drama my original stop of 47.70 on my original stop is not touched.
ES is approaching a short but I don't have guts to short it, I am just watching this if I will be right in my analysis or not.
Trading ES doesn't suite my mentality but it is a good vehicle if you just a LONG and HOLD trader.
ES Daily trend - LONG
ES 15 mins trend - Tired LONG
ES entry point with 10 point stop - 2150 ( I will place an order on sim just for testing mode)
Now this the dilemma I am facing when I do my analysis and I know when my stop is far away do I need to enter the trade or wait for confirmation and loose that price advantage? Classic Information risk vs price risk.
Ok, now trend changed so my questions in my head would be will this continue or not? When was the last time short worked? all these sorts doubts will be in my mind...
Edit: Looks like I missed my target by 3 or 4 tick, I going to keep this short.
Going to be busy week at work so not trying to do stupid things....Still have my August puts, my simulation ES yielded 11 ES handles on that Turkey scare i.e reached my target but hey that's why I don't like simulation.
About to explode to the upside. Of course, I might be wrong as it is near the support but probability of going up is more. Other concern is weekly chart is it bearish or just a bull flag?
Trading: The one I'm creating in the present....Index Futures mini/micro, ZF
Posts: 2,311 since Nov 2011
Thanks Given: 7,341
Thanks Received: 4,518
For what its worth from a value point of view this is what I see: CL tested for sellers above VAH first week of June and found them for the custom profile spanning 6/28/2015 to today, at red arrow it bounced off that ranges VPOC (also 2 years comp profile VPOC) but then resumed its bearish ways next day, I see it testing for buyers on the other side of value down to VAL and or the 2 green arrows.
Ron
...My calamity is My providence, outwardly it is fire and vengeance, but inwardly it is light and mercy...
The steed of this Valley is pain; and if there be no pain this journey will never end.
Buy Low And Sell High (read left to right or right to left....lol)
Thanks Ron, that might be the case also as overall market (ES, YM, NW) are looking tired...my day trading strat (on sim) is short, last few months that's been working let's see.