No trades today
WE had an OAIR opening type this morning. ES went higher in a trend type day today. We opened above globex and didn't test any support and buyers moved in right away and the market never looked back. We didn't get any pullbacks into support until lunch time and i was out for lunch. The market pulled back into 1320-1322 level which was also 38% and 50% retrace area which is a good trade set up for going with a trend type day. So no trades for me today. But i am still up for the week (see PNL pic) The market has made new highs on the year and that was expected due to the bullish context. I stayed out of selling resistance at 1320-1322 because of the bullish context. That is a great example of how watching the context and not set ups will help a lot in trading. Before i would just wait for set ups and i would have sold that level without even thinking twice. But now that i have incorporated context into my trading it helped me to pick my trades more wisely and not get caught up in just looking for set ups. So i continue my journey next week and hopefully will not get side tracked to much with work. It is very difficult to try and trade while working at the same time. I constantly have to step away from my computer or i will not be able to complete my pre market analysis before market open. But hey i have to give when i have to because the truth of the matter is i get to spend a lot of time on the computer to learn how to trade while i am at work. And i get paid a nice 6 figure paycheck to do it lol :) Tonight I'm going to the beach for the week end and will clear my head and enjoy my wife and dogs. Till next week...
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