June 22 2010 Overlay and Trades

I had a fight with my bias during the prep this morning. I felt the selling coming in but did not want to believe in an extended and continued move down on the day prior to a Fed announcement.

The positive thing about today is that I would not let myself stand aside. It was not a clean move down and I forced myself to get in and engage. I felt like I was doing something wrong by not being short and that is a good sign.

I have been extremely sharp about knowing my areas and gut lately. The slightly positive outcome is a result of poor management but that is coming around a bit.

I have to admit I hesitated on what I knew was a good trade off an upper trend line at 1113.50 today.

I could feel it but kept flipping back and forth between my high and low time frame execution charts to find an excuse to sell shallow of the 1116.50 resistance area. Then the price moved off 1113.50 as I decided to hit it. That is usually how hesitation works.

I hit the blind short at 1110.00 and immediately took heat. Price pushed 2 points past where I though it would. Then the market went to sleep trading in a 2 point range for one hour. Very rare.

For the first time I can recall, the action actually looked unsymmetrical for a while and it shook me out of the trade followed by a timid re entry and small loss cut trade out of frustration.

I saw the congestion and fake low inside support at 1105.00 but did not believe it would hold at all. This is a good sign. I am getting stubborn at the right areas.

The management was poor and I knew it as it happened. I am close to beginning to eliminate this. It will never be completely fixed however.

I know what my operation is about right now and that is helping. The operation is to reconcile the read and feel with the timing and management.

It is also notable that the last long was a trade made with extreme aggression. I need to see more of this.

I went from being irritated and disappointed today to slightly positive about my trading and that may well lead to trouble tomorrow.

If I draw tomorrow I will fight back.