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i have had a cpl of beers btw! Think mentioned before, the office i rent decided to build a bar in the basement - its now open. Residents get very good discount.
ACD and trading specific levels of interest is all about patience. I'm the type of trader that has not hesitation to get into a trade which serves me well when good levels come up but on the flip side my sometimes lack of patience will get me in early or at a point where I'm neck deep in the order flow and thinking I can get a better price earlier than waiting for a retest at a later level.
As I'm new to it and know my weakness is patience I've made a rule, stuck a sticky note on my screens about waiting for OR to play out and for A-C values to show up before making a decision on an OR touch trade etc.
As for yesterday I was trading the first Eurex hour before cash open as we've had a solid move off the open south (good high in MP terms) then retracements to SD1... PA was looking extremely bearish.
At the cash open we had a confirmed A-down however as PA was very bearish and fundaments were there from FOMC for continuation I ignored the fact that A-down failed and we had a C-up. I looked for SD1 entry again above OR high however we had the mother of all short squeezes as it blew through. I then shorted VWAP and got done there too.
KEY LESSON: ALWAYS ABIDE BY ACD RULES EVEN ON TREND DAYS.
If I played the C-up trade through OR I would have been a very happy camper and would have looked for near the Open price/HOD. I did that the other day and got paid well. However PA here was very negative so it's hard to go against a move of that size.
The market did hit the HOD and then moved towards the LOD on a HL before trending up on HH and HLs. However I was out of the market waay before that due to my silly trading earlier.