"A man is not finished when he is defeated. He is finished when he quits."

Monday, April 9, 2012

I'm still in... earlier while I was writing the first post of the day, I missed my stopout while typing. Price dipped down in the 10:10 am candle but shot back up leaving the long lower wick that I have dubbed the Punk-Candle, where one gets "Punked " by the bigger players when they move price quickly to trip stops and to fuel their move in the opposite direction.  Also encourages impulse entries in the direction of the "punk move" before the price reverses suddenly on them  Since I inadvertantly missed this bullshit, I am still in for the big move up.  Here is where I would take some short-term profits if this were an actual real-money trade and not a sim-trade.  Note my trendline drawn as the market was just opening.  This trendline overhead is my cue to cash in.

No comments:

Post a Comment

Thanks for taking the time to comment. I'll review your remarks and post on the site assuming they are respectful.