Thank you, I was hoping the breakout of that pennant would give me my 2 points. Now to tell the truth. Going 7 days trading days without a trade was starting to work on my psyche. I had to keep telling myself I was right not to trade. So I was needing this one.
Actually, I learnt a valuable lesson here. As I said before, I scalp based on various scenarios. My method does not like trending markets so I may get hit 2 or 3 times in a row. I did not take the short at 1314.5 based upon your theory and the fact that the 3rd run at a resistance is usually broken. You saved me a couple of losses, thanks!
Then we both made out alright. That is what it is all about... I have an order to go long at 1318 right now based on a breakout of this flag. It is a half order and will just scalp it. MO for exit.
LOL. No one can abide by that rule. That is like the person who says "I am just going to eat 2 potato chips" never going to work
I do pretty good at it when the market gives it to me constantly. When the market slows like it has I figured I owe it myself to make a few extra bucks if opportunity arise.