Yesterday was a tough day and you all know the trades, the patterns I like. You know the setups and the defined rules....there is no, Well if this would have done that I would have tried to take a trade because this was oversold and the slope of the this was below the slope of the last 3 or 14 bars....whatever.
Everyday I take the first bar trade, if it doesn't work out I have been taking the first 3 bar trade......yesterday it was not pretty at all. Did I spend the night in some chat room or searching the internet to find another filter....NO. I went to the Boys and Girls Club awards dinner and enjoyed my evening, more on that tonight.
This morning I sat back down after hearing everyone missed their earnings it seems and talk about how bad the blood bath would be.......yada yada yada the empty suits chattered......
First bar printed and I was long.....then the 3rd bar printed and soon I had another reason to be long.....but the most interesting thing I would like to share is in the ticks. If everyone was looking to short on the open and be a bear all day and make a killing....then why would the ticks only be down -200.....instead of say....-1,000 or -1,200. Just something you might want to study against gap opening......I am going to do a piece on the $prem later this week as time allows.......because the $prem was screamin long right after the open also.......but if you were shorting your heads off...thanks for the piece of cheese today.
Posts
No comments:
Post a Comment