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In the end we have a liquidation-b-profile which suits in the market environment
I could have imagined even more liquidation before this long weekend but this did not happen. For this i held a runner with target at wednesday low (= weekly vwap= virgin poc) which i exited late in the session
In our trading business there a many screws which we can optimize. I think especially in a fast market like the NQ we should analyze all screws that are in our control and turn them into a position that lets our emotional level stay as calm as possible. Scaling out and not scaling in again is a similar screw for me.
We opened near y rth low and saw no follow through so i offensively bought for some kinf of covering
Worked good and i scaled out one at onh and exited the other as it came back too far
Then it seemed that the long scenario stays intact and it tried long again. Long side was intersting as this could have been a look below the two inside weeks and fail
Longs got no traction and it seemed to roll over to the short side. As this also got no traction i closed the short early
Given the bigger timeframe there was potential for both sides. But nothing bigger happened on either side. So i labeled the day as "low conviction" and stopped trading early
One could say: Why not trade the edges when there is low conviction? From my experience you will have no joy with this as the pressure at the inflection points is just not high enough and the algos will play their game with you
It is of maximum importance to be in a mental state of abundance and not in a state of needyness, especially on low conviction days
We opened near y low. I tried to get in some covering action. did not work.
Changed to short side for the missing excess at these important levels. Did not really like the way it fell so i traded it with caution
Later it showed some acceptance at lower prices so i had more confidence and shorted again for a "continuation scalp" from vwap SD-1 to the low of that trendday up that happended 3 weeks ago
In general i would be interested in longs after the acceptance back in the bigger balance area but i do not like this time of day and i did not expect much on the day before the fed
Out of sheer curiosity are you using Volume and CumDelta in your analysis , cause there was what seemed like exhaustive volume accompanied by sizeable CumDelta in the respective bar that did not get any traction and from then on it was a trip back to VWAP.
