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Though i managed to make a profitable trade despite i was not prepared for any trade....rather i was very relax that today, i have not to take any trade and this was a mental comfort that lead me to trigger itself on opportunity. But then after this i was again frowned by loos fear. Agony still was, that this trade was also a counter trend. This was the sign , i was still not believing in trend. If it would not have been there then i should not hesitated to take clear short after covering long.
What i recovered on Tuesday , gave back on Wednesday. That shitty bug was still in mind.
I dont know why it was happening to me...perhaps i was little overconfidence about handling trades in every situations...its visible from some recent trade entries. Yesterday , i got a natural pause due to some work...so none of trade taken yesterday. Today, i do not wanted to repeat old "going Long" trades....but from yday action....now i even cant think of short. There is definitely a transitional state with my view towards what should i trade and how should i plan, i got some early sign what should be my sought trading methodology....which is one goal of this journal.
I took one long just at 10:57 AM.......as i never know what news are going to be out.....it spurted at 11:00 AM before i put any stop, perhaps on some news. Just a quick trade.....but it scared me also. My thinking was right and action was right...but market picture was ugly. Waited for some more candles....as premise was still valid....second long also worked as first one.
will be posting regularly after 2-3 more days of viewing everything from a far distance.
Just a noticeable thing....most of time in past....most trader of NF would have been very comfortable and trade effectively with a fix stop of 10 to 15 points. But when i see this stop as now NF running under ADR values of 50-60, it looking like 20% of ADR....
One step above picture.
Sketched a possible early four step, with upper 2ndSd near a LTZ(Demand/Supply Change).
Is it pointing down to 5170-80 zone.....?
Based on early buildup of range and stretching factors running from last week...i could easily assess that its its not in hurry to go any where but rotating between 10 and 21.
Ideally in this situation Long near IB low fits properly.