The first bar trade today was like Monday, well maybe even worse as a matter of fact. It took out the first 3m bar and only went down two ticks below the first bar, ever sell the low tick?
Then you had to watch as the price pulled back up along with the stoch, that is never a good sign of things to come. If price would have held and the stoch came back up, I would be waiting in line at the ATM machine.
When the stoch cycled back down to oversold, then I have to use the half off rule when the last high of the last bar is taken out......well that was a loser already.
Now comes that real question....when the stoch moves back up off the oversold area and price follows do you....
A. sit on your hands and pray.
B. take the other half off and take the loss like a man.
C. eat more Christmas cookies.
D. move your stop down to the top of the 9:39 pivot high just in case and reduce the risk
E. turn on the TV and see what Maria has to say.
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