IN drip office, opening TOS now. Market near strong daily level, this is usually a recipe for choppy action. On the 15 minute & the 1 hour it looks like a strong case for a bear flag. If I wat for a break below the daily level this could be the signal of it playing out.
Got in and got out. Cannot help but feel that there was likely considerable downside to be had, but given the proximity to the daily level and the fact that this daily level was the area where the churning was taking place, I was anticipating that it could chop around there for quite some time, and might actually hold there, teasing a completion of a bear flag without any meaningful follow through. I intuited that this was a bearish chart, and saw a decent entry to capture 3 points. This is the goal. I came for crumbs and I left with crumbs and I’m starting the month off on a small green note. This is sufficient for me. $150 is incredible.
Things I can improve: It worked out today to enter relatively quickly after opening up TOS but I should learn some restraint and to wait for cleaner setups. For my purposes of capturing a 2-3 point move I did well, and in today’s case acting expeditiously was the right call, but I need to have the capacity to be able to wait.
What I Did Well: I identified the trend, I entered at small zone of resistance, I pulled the trigger with conviction, and I had a goal for profit and got out when that goal was met. I did not let the taunting of a larger potential move divert me from my original goal. I came for crumbs and I left with crumbs. I had reasonable analysis of short term price action and I capitalized on it.