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Wait to see if they can blow these stops overhead. Sellers are in this area for certain, but that high pivot is a little too close, and we do not have any reversal yet
Can you help answer these questions from other members on NexusFi?
Real nice job Gary! I like to see your analysis and entries even when my style is totally different. I take 10-15 tick scalps at 'local' reversal points but enjoy seeing you running for larger swings.
End of trading day; 3 contracts traded, two wins, one breakeven. I should have held the one that I stepped out on breakeven, as I took the risk for that trade but did not takte the reward. Crude is so spiky today, and I went into contract #2 as an average down, which is within my rules for this trade as price was still in the entry zone, but I allowed doubt to talk me out of oner contract, and that is against my rules. Exitting because I thought I was wrong would be good, but I held the other contract because I did not think I was wrong.
So, on the financial front, two 90+ tick waves is a great day, and on the technical side, patiently waiting for crude to wear itself out and for volume to confirm the turn in the resistance zone, I give mysewlf an A+.
But, on the psychological side side I scored about a C, as I let doubt enter my mind. There should not be doubt, there should be in or out.
It happens, and trading is never perfect. But that doesn't mean you don't keep learning...