Funny old day, not so much around. Here’s something different — a trade I didn’t take. At first sight it looks like a good setup, but with volume dropping away, yesterday’s low hanging ominously just above the likely entry, and a general lack of momentum, I stayed out. As it turns out, there was a bit of profit on the table. Again, following the rules means missing out on some winners, but more importantly it keeps us in the game so we’re around to pick up easier, bigger wins (see below)…
Like this one on Facebook. A ten minute trade netting over $400 in profit. Could have been more, but a highly volatile price led to a conservative approach, scaling out half at a time. And yes, bars not candles for this one, because bars rule.
Also note that there was a great easy short available at the end of the session, good for another few hundred dollars profit. Personally I was long gone by then because, you know, I’m lazy. But it was clearly signalled and there for the taking.