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The following user says Thank You to Big Mike for this post:
Trade 1 trading a pullback. Given the second lower high put in at 7:45, should have been defensive, but went out at full stop rather than BE.
Trade 2 trade off channel from yesterday. Got a good push up. Even moved my stop to lock in profit. But when price came to my stop, I held for break even to see if I could get another push off the channel bottom. The highish volume down bars at 8:15 and 8:45 should have said individually and screamed collectively that this was not going higher.
Trade 3 was after the high volume reversal just after 9:00a. I should have gotten in between 9 and 9:15, but I got the second pullback. Got out at BE.
Trade 4 was the first pullback after a breakdown at $161. Not a great push down, got stopped out had to jump in quick to catch Trade 5.
I got pulled into Trade 5 based on how fast price traded off the EMA21. It traded back up close to my stop just about as fast. But didn't get stopped out. Traded my exit much more like a trading range day that it was.
Another no volume $1 range day with a downward drift. I need to be careful what I take as a "high volume bar" on days like this. "Normally" a 10k volume bar on the 3min chart suggests something is happening, but on a day like today a 1000 bar stands out like a tree on the Texas plains. Can't use that as a signal.
Squeezed blood from another $1 range day (after 7am).
So this week I have bled -$15 to add to my loss of -$59 from the prior 4 days. So not a pure draw down and not nearly as deep as draw downs past, but the days have felt futile. I remember thinking that if I were thinking about increasing my size, I would want to do it after a run like this. Big day has to be coming.