Less then an hour before friday session finish I have opened the trade, long position, cause the following issues were calling for the downside market move:
1) seemed like VWAP downside breakout was weak, cause there was no $tick session low;
2) there was no sluggishness in the weak sectors;
3) internals were in favor, bullish.
But the trade soon have met stop loss order, cause the market started to plunge. What the hell all 3 trades of 21st 2010 week brought me the losses? In short, what was the fault of that last trade?
1) The entry reasons were poor. "Seemed" and "there were no sluggishness" w/ no special numbers are not appropriate reasons.
2) I did not notice but $add was just perfect forerunner of ES downside trend continuation. While ES as well as $spx after the VWAP downside breakdown have posted higher low, $add have made lower low (click the chart above to see).
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