Nearly funny how simple the daily looks.. just a day in a continuation that tested resistance.. The shrubs look sooo different..
New Month... Better trading ahead. Morning Prep.. Looking for action at 1760 though a little wall 1752's, currently in a no man's land. 10am reports due.
No trades today with connection issues early.. Wedge building.. Will be looking for 1760 to 1764 area short tomorrow..
I did not take the early 1760 short, waited to the TL break on hourly but missed the part about waiting for a fresh downward reversal (system trade). Went short on break of 1751 support from yesterday.. (Not a system entry) Plus I was quite convinced the breakdown will hold which possibly lead to canceling my stop AGAIN.. Nothing technically "wrong" with this trade, that's what stops are for.. BUT I canceled my stop again AGAIN and took a 14 point loss on one trade. Repeated this error quite a bit now and is FEAR/GREED related.. Clearly I am not alone "miss-thinking" that break below 1751.. Broke a price level AND a VERY long Trendline.. Won't shock me if we are back in the 40's later.. Taking a break to fix my head... Clearly this exercise has not cured ANY of the issues intended..
R, sorry to hear about your grief. The others have already pointed out, that you're over analyzing things a bit. I've looked at your charts, but have no idea where you're getting that extremely short bias. I've attached mine. That trend line was drawn since Friday. I'm not taking any shorts until that trend line break. And even then.... Schaefer
Schaefer, Is that an hourly chart of NDX or NQ? Here is your chart.. there was a break this morning??
Here is a clean one... Regardless, not waiting for system trades at the core of my troubles.. not insurmountable but nevertheless slightly maddening..
Something else.. Trendines are broken and negated all the time.. no problem as that is life in the jungle.. hence the unwavering need for protection.. patterns that don't follow through tend do be viscous in the other direction..