October 14 2009 Overlay, Trades, and Commentary

I had no trades today.

The read was good. I had an upward bias and was looking for opportunities to get long up until about 11:00 AM today.

I made the decision in the late morning that I was not going to aggressively engage the market today. The action was extremely slow and grinding.

Most of the prime moves have been happening in the European session. If this continues, I can make adjustments to entry requirements. I do not think it will be necessary.

The only thing to do today was to blindly bid into the 1080.00-1078.00 area or take a shallow micro breakout around 1081.00.

It is frustrating to see my visualization and prep work well and not trade it. It is difficult to find balance between good repeatable confirmation and simply biding and offering key areas.

I have taken a few questionable setups in the past week and it has not worked out well. It is worth noting that these were also short side trades which were fading an obvious powerful move up.

Today I wanted good confirmed setups and the market did not cooperate.

I will be ready for tomorrow.