Man what a frustrating day, I was loaded up for this breakout the whole way from 10:00 and I just got chopped up in the bullshit before it finally did its "fuck you longs" break LOD then rip to the NHOD. My target the entire time was 37 and that is what we hit before failling and going sideways for the rest of the session. There is a new driving force within my strategy and It pisses me off that I even have to say this.....
This fuckin bullshit ticker NVDA lol
Market literally just follows it with huge chop insane bullshit impossible to trade moves then the moment NVDA finds its bottom the ES can finally do what it was going to do the entire time but not without fucking over all of the longs first.
How could I have fixed this?
The only thing leaning bearish in my strategy was the TICK and the PM downtrend. Those 2 things are obviously enough to stall a long biased move until something serious happens and liquidity is grabby heaily. I think even if I waited perfectly for this move and took the LOD break after we reclaimed the 2m candle I still wouldve probbaly only gotten maybe 10 points out of this trade but 10 points with 10MES is $500 and that is a weeks worth of construction work so thats damn good money for a morning of focused interaction with the market. When we stall and stall and stall and fail while NVDA fails its probably a good idea to just SOH until something is seriously proven to be correct and a break of LOD leading to a massive rip to HOD is probably one of the best indicators of institutional longs being in control the entire time.
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Breakout or Bailout | SNOA or PHIO (When & What To Trade??)
Portfolio(s): $25k Challenge,
Posted on May 29, 2020, midnight
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