The red dot is back tonight. -4 points in the grind today.
I had a decent read and attempted a couple shorts after potential failure of the 1084.50 potential inside resistance area.
The first looked really good. It had 2.5 points open equity and pulled back. I was not going to take a break even there and lost 2.25 points. It was a good trade.
The second short was very aggressive. A channel had clearly formed and decided I wanted to try to get short inside the channel so I could be better positioned if there was a sell off.
This was a risky trade that did not work out. I like the aggressiveness.
I executed everything properly today. There was no way within my plan to make anything out of the action.
The price was either going to fail at potential inside resistance or not. Usually when the price contracts at a resistance area, I expect a thrust up in the Globex session.
Since my premise was for there to be potential inside resistance and I hit it twice intra-day, I am going to make a bet that the price will fail overnight at the 1084.50 extension area.
This is contrarian to what the market looks like it is doing. My visualization often plays out over the next couple days if it does not intra-day.
Let' s see if the market proves me wrong.
No VIDEO tonight. There is not much to cover.
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