Today we had a 4.75 Gap upon Globex momentum, price never tested the 1412 PDC and trended above the 0 line in cash markets indicating the phigh potential for a tight range drifter
Recap Notes:
Trade Selection - Good Trading, Good Entries, Ok exit. Sequence 1 was a solid trade but i could have taken better profits. I anticipated continued breaks into new highs without exiting into the peak rallies leaving points on the table.
INTANGIBLE OBSERVATIONS:
Exit into the rallies - Today i had multiple opportunities to exit into the ensuing rallies but failed to maximize profit due to my anticipation of higher prices. Price had already made new highs on 2 occasions all before the 1st Ti but shows signs of rejection, This was my missed opportunity.
Trust the Background - Always formulate a premise based on the higher time frame Background.
Trust your premise and look for test and confirmation in wholesale areas.