I decided to trade this morning.
Note that just because price makes a sharp run up doesn't always automatically mean it's a fade. But in this case it was, and a beautiful one. Where do most traders buy? After a run in price. And that's usually when I'm looking to sell. If the move out of 975s was truly bullish and the breakout were real (at that moment in time), price should have easily continued higher.
Trades 2 and 3 were on the basis that, with no traction to the downside despite heavy selling there, I was expecting those stops to be taken out above. They were, but not in the cleanest way and so trades 2 & 3 were a scratch, essentially.
Today's trading video:
Note that just because price makes a sharp run up doesn't always automatically mean it's a fade. But in this case it was, and a beautiful one. Where do most traders buy? After a run in price. And that's usually when I'm looking to sell. If the move out of 975s was truly bullish and the breakout were real (at that moment in time), price should have easily continued higher.
Trades 2 and 3 were on the basis that, with no traction to the downside despite heavy selling there, I was expecting those stops to be taken out above. They were, but not in the cleanest way and so trades 2 & 3 were a scratch, essentially.
Today's trading video:
Inserted Video
If you can't tell what the herd is doing...you probably are the herd.