Short position was opened cause: 1) there were materials sector (2nd strongest) w/ energies (the leading market mover) interim lower lows; 2) no Russell 2000 futures higher highs the moment before entry, unlike on the ES w/ NQ charts and finally 3) internals were in favor. But very soon materials swinged sharply higher, plus market (according to ES performance relatively to VWAP) was in the range mode, so it was too shaky. But time did show, that the trade exit was too early and the market did decline sharply.
Closer to the session finish entered long on the reasons: 1) $add looked better then $spy; 2) there were bullish divergences on Nasdaq and Russell futures charts, plus 3) no financial sector (strongest) new lower lows w/ huge upside swings in energies (click on the chart above to see). But market stated to move against my position and soon the trade was fixed by sl order. 1) $tick did say its word - it was not appropriately bullish to let the market rise; 2) weakness in $add showed up and 3) energies spike higher - that was one of the entrys reason - was shut off at just a moment.
0 comments:
Post a Comment