YMM21. Registering cleanest reversal pattern.
Dow has been the strongest index, has the cleanest support, and showing the best crystallized formations (imo). Since I started making this price has been climbing, and if I would have taken the trade I would have been looking at profits nearly the whole ride up to this point.
Markets were getting slaughtered this morning, so it was a good time to be selling. That's why taking this trade is such a dilemma, and poses (to my interpretation) a higher than usual risk.
The markets are now all recovering in unison (for the most part), but the day is very young. On a morning like this you can bet the best of the best are taking home fortunes.
Did I make a little bit? yes, I did :). But, not that much. A day like this could, and maybe even should make your week or month. Remember you can always trade your plan more closely. Don't kill your conscience, but remember that reacting loses and systems win. It's a balancing act.
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As I am typing this the Dow is threatening to fall off a cliff again. If this pattern has strength, in this situation, the buy (right exactly now) would be a genius play. If it doesn't have enough strength, then we once again say that trend is the big boss, but we still look for this same reversal pattern on the next swing low.
Markets were getting slaughtered this morning, so it was a good time to be selling. That's why taking this trade is such a dilemma, and poses (to my interpretation) a higher than usual risk.
The markets are now all recovering in unison (for the most part), but the day is very young. On a morning like this you can bet the best of the best are taking home fortunes.
Did I make a little bit? yes, I did :). But, not that much. A day like this could, and maybe even should make your week or month. Remember you can always trade your plan more closely. Don't kill your conscience, but remember that reacting loses and systems win. It's a balancing act.
-----
As I am typing this the Dow is threatening to fall off a cliff again. If this pattern has strength, in this situation, the buy (right exactly now) would be a genius play. If it doesn't have enough strength, then we once again say that trend is the big boss, but we still look for this same reversal pattern on the next swing low.