I try to keep it simple. If price hits your target they that is great news. If price continues past your target, don’t think about it, as there is always another trade.
The market does a fantastic job of probing and testing before making a large move. This wears down traders and makes it so easy to take a quick profit because of the relief of finally having some positive movement. I heard someone say recently that a good rule of thumb is to be optimistic when the market is working for you and pessimistic one is not. I think some reasonable factors like who has the momentum, is the trade an early attempt at catching the turn or is it after the market has already shaken out many times, answer these questions helps to determine whether the market has legs or whether this is simply a wiggle. At the very least, a good compromise IME is to trail a stop. This way the market must prove to you that it has some opposition against your position.
I try to keep it simple. If price hits your target they that is great news. If price continues past your target, don’t think about it, as there is always another trade.
Amazing work! Love the breakdown.
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The market does a fantastic job of probing and testing before making a large move. This wears down traders and makes it so easy to take a quick profit because of the relief of finally having some positive movement. I heard someone say recently that a good rule of thumb is to be optimistic when the market is working for you and pessimistic one is not. I think some reasonable factors like who has the momentum, is the trade an early attempt at catching the turn or is it after the market has already shaken out many times, answer these questions helps to determine whether the market has legs or whether this is simply a wiggle. At the very least, a good compromise IME is to trail a stop. This way the market must prove to you that it has some opposition against your position.
🍻🍻
gg dude, nice trade
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The value area was 70% of the volume profile?
The Value area is where 70% of the volume take place in the profile