Mar 122012
 

Today caused me some grief due to the time change.  I don’t remember having so many problems last year.

By the time I got it all straightened out it was time for the US open.  So I didn’t take any trades pre-market and I wouldn’t have gotten any signals anyway.

After the open we probed up but I did not get any short signals.  After that we probed down and bounced off the bull/bear zone to the tick, so I got long when i got the signal.  I held this for a while but I was not happy with the lower high & lower low’s so I took the opportunity to get out at my entry.

Then when it went down into the zone I was no longer convinced it would hold so I just watched.

Overall I traded well so I’m OK with ending the day flat.  My main focus this week is staying out of trouble.  Entering only with a signal and being patient for it and the target.

Today, in hindsight, it seems buying the B/B and holding for resistance was the correct thing to do.  But from what I saw in the price action, I’m inclined to believe in most days it would have broke lower.  So I won’t change anything based on today.

 

 

  One Response to “Review for 2012-03-12”

  1. I think today was a difficult day to read the market with an IB range of only 5 points. It felt like the perfect day to get chopped up. I think you were wise to stay out and wait for cleaner setups.

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