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It's itching to get short but need confirmation from my system...again it is not the system any system will work, it's the following it and the execution makes or breaks a trader.
What is wrong with me, I didn't take any long trades but looking to fade LOL. Price cleared monthly VWAP at 2068.50 and hovering near last weeks VPOC at 2074.
I am expecting a bull trap here as it did in previous FOMC's if not all time highs....
Needless to say I got stopped out...I got sell signal on my system this morning, will short using SPY instead of ES. Two losses I didn't follow the system, I tried to out smart the system...sticking to the system and execution is very important as Mark Douglas says...
Price might go to into sideways action after big trend so my system will negate the sell signal if price closes above 2087 in next 90 mins as of now sell signal at 2085. Ofcourse, I coudn't get it at 2085.