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Thought it would go to lows again:
- Prior breakdown area
- Break of uptrend line
- VWAP overhead
The ingredients of a continuation down move were there. However:
- the probability of success decreases during noon hours
- not all systems create 100% win rate.
- mother market can do anything she wants
- always trust your stop and get out when wrong (did a great job there).
Need mental flexibility to buy into the uptrend for a reversal day play.
- Ask yourself, what's the most current trend in play?
- Are we above vwap? are we creating higher highs and higher lows?
- Trend is good until broken. ALWAYS GO WITH THE CURRENT TREND and play it until it fails.
- Do not be afraid of intra day resistances as they are weaker when price is hitting major support on a longer timeframe!!! in this case, GS hitting a support level on daily chart.
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| WHAT I SHOULD HAVE DONE AFTER FAILURE TO FOLLOW THROUGH TO THE DOWNSIDE. |
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