CLICK HERE FOR TODAY'S COMMENTARY AND LIVE TRADE EXECUTION VIDEO 11 MINUTES
Major volatility today. The visualization I have had for the past couple days played out today. For the first time ever, the price action almost extended beyond the space I allowed on the prep.
This is partially due to an internet connection outage I had this morning. I did the prep on my laptop with data only through about 1:00 AM EST today.
I did not have any trades yesterday. I had a short bias and once the market failed to rollover and started to congest I stood aside.
Anytime I start seeing price action moving back and forth above and below one of my potential zones it is a sign of a bad read or a market that is forming a channel.
When I did the prep this morning I had a hard time inserting a potential inside support zone. That is why I labeled it also as a potential higher low.
It was hard to accept my feel that there was no real support nor much potential for support for an entire 30 points below where the price was at 7:30 AM EST.
I caught a good chunk of the short side move today after taking a small loss on a long initially. It was an advanced move to get stopped out and reverse.
The feel for the move down was overwhelming though and it was accompanied by an obvious setup.
The potential inside zone hurt initially but helped as well. I got stopped out very quickly on my initial long. The trade had to be taken.
I likely would not have been able to visualize the short as well as I did had I not had a potential zone to work off of.
This is part of my trading that may need some work because I often do not engage once the price has moved off a zone or potential zone.
Today's trade put me into the green on the week after a couple slow days earlier this week.
Check out the VIDEO. I did some commentary over the live trades and had an interesting order issue today.
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