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closed trade. price action looks dead. waiting for stronger indication of direction before re-entering. ( and also because I can't watch the market right now )
Revised thesis from continutation long to choppy day.... entered long at yesterday higher volume node.
Edit. My big mistake. that's not yesterday's higher volume node. It's the vwap. Oh well. mistakes happen.
Closed. For good or bad reasons to be decided: My automated day trading system entered about where I did ( after ... I didn't know it was going to ). Then it exited for profit. I know it's statistically a good trade so I followed it. While I don't want to correlate my discretionary trading with my systematic trading, perhaps if they happen to overlap it would be wise to listen to the ystem.
dunno if this is a good idea. it's a newish idea. I identified high/low volume nodes on the wider area time frame and found an area where if price moves to I would expect a little further movement. Sell stop in place.
The Euro Dollar strength is a weaker USD against all currencies ( including the currency of crude oil ). That explains these markets and it's a continuation of the story that fueled the Friday and Monday. The S&P did not continue with it. Are buyers exhausted... that's clear the question is will they remain exhausted for the next 24 to 72 hours? ( my avg time frame for my swing trad short ). Without this currency catalyst they will need another reason. I don't know where that reason would come from. Could be earnings. Officially that starts Oct. 8 with Alcoa.
Took a while but the order finally filled. The good thing about a breakout type trade is the stop can be tight... or so we all guess.
going for lunch. I'll just assume everything will go as planned....
