- Very good R
Held above that AVWAP overnight as we have been ranging above and below those for the past 2 weeks. Once we broke below it we used it as a trap zone to stop out shorts and suck in longs. In general the price action was pretty nasty. needed to get green fast and get out before something bad happened
Trade: So I got short here because ADD VOLD both downtrending and Weight broke its little uptrend. This has been a good little pattern I have been using this week (waiting for Weight to break initial trend) because it usually gives good continuation. Today though I had to take my profits very fast because the VOLD broke back above OP which signalled that even if this was going to continue, it wont be pretty. That was my sign to get out and let the low probability market do its thing. After that win and noticing how neutral the market was as Weight held its OP and VOLD/ADD never kept breaking through LOD with strength. It was a time to size down or not trade at all
Trades 1-3: All short continuation trades that I mostly lost on. I think I walked away with maybe a few bucks trading MES after the ES wins but overall not worth the hassle. The market was just too neutral and anticipating the unemployment numbers. I definitely thought we were in general going to move lower so shorting was the rigth idea but I had no clue we would fakeout the HOD like that and do something insane. That move was such a trap and was a testament to the fact that the day was most likely going to be very neutral and choppy. These are days its best to just get the fuck outside.