Good Afternoon,
Just like yesterday, we opened up with a big gap.
My plan was to look and see which if either of the overnight high or mid gap fill got hit first and then take a trade in the opposite direction for a reversal.
The idea was solid but I missed my chance to get in as we dramatically dumped from the overnight high to the mid-gap fill.
Suddenly out of nowhere, we had a dramatic 10-point pump but it wasn’t going anywhere so I had a new trade idea to short this pump back down.
The problem was that as we descended we kept getting these aggressive 6-point pumps along the way, and this dangerous action led to me getting stopped out since I moved my stop to break even.
(Zoom in on the picture with a little click or tap)
Hear my thoughts and advice on today’s action here in the DPS.
I am flat for the rest of the day now with only a minor loss and will be back trading tomorrow.
There is no point trading your PnL, as revenge trading can lead to much bigger losses.
My trading ideas were solid, just a little lackluster on the execution side of things within this 16 points of the range.
Plenty more opportunities tomorrow.
Happy trading,
Korbs.
