I had a decent sequence today. It started with a small loss on a short attempt.
The price slightly extended 1200.00 and then tested some very shallow inside support. The short was a breakout/continuation off the highs.
I knew it was prone to a squeeze but this type of short has to be attempted off highs. I could have exited with a couple ticks profit after it felt like a reversal but it is not worth it to bail on the trade.
I gave the bet a chance. This needs to happen more. I let it try to work. When it started to fail, I covered with a small loss and prepared to reverse.
The long was a clear play on shorts getting squeezed out and the target was to ride the extension up.
I exited once the price stalled after 4 points open equity. I believed the trend would grind up all day but need to take profits at reasonable levels and look for a re entry.
The trades were well played today.
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