Base System: 21W-4L=25T=84%
New System: 15W-6L=21T= 71.4%
SCS: Loser
I traded well in the morning and was up +20 points. Then I saw a signal that the market was reversing, possibly a major reversal and tried to fight against it. This left me with unrealistic scaling in and eventually closed it out for an 8k loss just to be able to trade again.
I was indeed right the market did reverse on my signal which also was in the 963 area again as yesterdays support level worked again. Later in the afternoon while working I really felt the market would revisit the 976 level, but was too busy working to trade that thought with any conviction. Go figure, I was right and just after I decided to stop trading the market quickly blew down, cleaned out the long stops and ran right up to that area!
So as a day it was a trainwreck, but as far for making calls of overall direction I think I was 3 for 3, but was working against myself. This major run up for the last 10 days is way way too strong. I do not follow the news, so if we have not had a major news event this market run up is senseless.
Chart of the day shows what was a really clear short signal on my indicator, without seeing this crazy 1m bar close.
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