I didn't do any trading yesterday 8/05/13, as I was away. Now, for the majority of today, the market traded down with significant volume. It ended the last few hours trading in a range. There were a lot of good trade setups. I only took 1 of those setups, as the mental/emotional factor came into play again. Instead of just following through with my analyses of the market and make the trades, I tend to hesitate and question my reasoning for them. Definitely a work in progress in this area.
Trade #1 - By now the market was in a trading range. After a very bearish candlestick bar ended, a Doji one formed. Prices also formed a double bottom @1691.50. Got long at 14:13 @1692.00. Took some heat, as prices dropped 1.25 pt before another Doji formed and prices reversed rapidly to the upside. Hit my target of 1693.25 at 14:25 for
+1.25 pt.
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8/06/13 ES chart |
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