Earlier this AM, I persuasion I'd endeavor something a lilliputian dissimilar alongside the Twitter posts as well as provided a tweet only every bit I placed a trade. The move yesteryear nautical chart inward the 3-minute ES reconstructs my idea: We had an opening arrive at breakout to the downside (1), as well as thence selling dried upwards higher upwards yesterday's lows (and the overnight lows (2). That turned me bullish on the morning. We rallied higher upwards the 25 current VWAP moving average (3) as well as thence held forcefulness nicely over the side yesteryear side several bars, leading me to larn inward the impulse deed on the long side at 817 (4).
The persuasion was to agree long for a exam of the day's highs (821.75) as well as the Tuesday regular session high (822.25).
The merchandise almost straight off goes my agency on a pregnant spike inward TICK earlier consolidating over the side yesteryear side ii bars. We thence larn roughly other deed upwards on venture (but reduced) TICK (5). At that signal I was torn. Volume was non expanding on the upmove, but I actually liked the merchandise idea. I briefly persuasion most taking a quick profit, but decided at worst, I'd scratch the trade.
As the bottom nautical chart shows, as well as my 10:33 AM CT tweet notes, I did indeed destination upwards scratching the trade. Very presently subsequently scratching it, certain plenty the marketplace zoomed higher, though struggled to vault higher upwards those cost targets due to the depression volume.
Psychologically, this is a dainty illustration of a merchandise that doesn't operate out, but that provides useful information. Directionally, my persuasion was good, but at that spot wasn't plenty volume/volatility at that fourth dimension to sustain the anticipated move. The scratched merchandise highlighted for me that nosotros would non interruption as well as sustain a deed higher upwards the previous day's high unless fresh institutional participation entered the long side. That awareness was fundamental inward helping me avoid chasing the boundary higher subsequently my move out (which would stimulate got been a bad short-term decision).
Of course, I could stimulate got gone away from the merchandise frustrated that I didn't mass a profit, but that's how perfectionism kills us. Instead of focusing on woulda, coulda, shoulda, I wanted to survive focused on what the merchandise (and its aftermath) was telling me most the market. In short, it told me that nosotros weren't sustaining selling (no TICK readings below -800), but that buying was slow, fitful, as well as choppy on the agency to the cost target. That helped me widen my stops as well as larn dorsum into the marketplace on the long side when selling (a lilliputian subsequently 11:30 AM CT) could non accept out the prior lows (around 11:15 AM CT).
Viewing the scratched merchandise every bit a winner--and every bit a root of valuable information--is a fundamental milestone for developing traders.
On a classify note, I've received a few emails as well as spider web log comments indicating that at that spot is a delay inward the posting of my tweets to the Twitter page. My feel is that they're showing upwards on the spider web log page to a greater extent than rapidly than that. Those delays arrive impossible to post short-term trading setups. For at nowadays I'll delineate back, tweet most to a greater extent than full general marketplace weather condition for determination support, as well as expect for option ways to communicate most setups as well as trades.
Thanks every bit ever for the involvement as well as feedback.
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