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Trade 1:
Time: 0830
Enter: Short 16125
Stop: 16141
Target: 16094
Exit : 16115 (10 ticks won)
Reason: The market pulled back to last swing high. The bar closed low. Volume pop (sellers came)
Tried to jump through last swing high but got reject which created a test of last swing high (Spring).
Watch and wait. This run up is not bad but compare the volume in daily chart which gave me a question.
Why today volume is not even haft of the bear candle. Is this a false alarm ? This question in daily chart will be answer by the day end. (Big battlefield map )
2 question i asked myself now . Is this run up just building for a good smack down today ? and are sellers going to anything today to defend their zone?
Wait and see then. Nothing to do at the moment.
I will play accordingly to the read of the market.
Trade 2: Lost 17 ticks 2 Contracts.
Reason enter: The running climax volume with a test of of no demand, then there was a sellers bar with decent volume.
Note: To early next time should wait for 1 more exhaustion run up (shake out) . or the sellers confirm that they are interest in selling.
Yesterday i had a opinion about the direction. i assumed the market will get smack down hard.
Some Psychology which i noticed when i was trading yesterday.
*I was assuming, expecting the market direction -> This always created a negative balance at the end of the day for me.
* Having opinion about the market direction is not a healthy way to trade.
* I did not read the market correctly (my brain was blocked so i just looking for short ).
* I had the thought about revenge trading because my negative balance and my opinion about the direction.
=> I stopped trading, turned off the computer when all these thing happened. Walk away was a good solution for me.
