DAX bearish tone
- Price's been building over last few days 'meat grinding' participants, markets accumulation phase. entering last day of month so shiz could get real as big boys have deep pocket we simply just ride their coat tails nothing more or less. masses are blind sighted by its location atm, where as internally
sellers are strengthening within showing PA too. daily chart confluences with h4/h1 for direction we have chart structure potential now also.
side note- drawn ranges are made to be broken . They entice the herd into them that's there job nothing else. Mass psychology plays a bigger role you know! but if you invest your energy into self education and have high time preference attitude it'll become clear over time. target area is just that, let price tell you to exit when opposing side starts builds again at you HTF zone.
reading basic candlesticks and their formations in real locations helps not wasting time seeing red line crosses blue what are you 3 yrs old, you met industry propaganda it'll distract you until you say enough is enough and you won't keep hemorrhaging money anymore (it happened to me!) - you can't get an 'edge' over the market that way - sorry if i offended
sellers are strengthening within showing PA too. daily chart confluences with h4/h1 for direction we have chart structure potential now also.
side note- drawn ranges are made to be broken . They entice the herd into them that's there job nothing else. Mass psychology plays a bigger role you know! but if you invest your energy into self education and have high time preference attitude it'll become clear over time. target area is just that, let price tell you to exit when opposing side starts builds again at you HTF zone.
reading basic candlesticks and their formations in real locations helps not wasting time seeing red line crosses blue what are you 3 yrs old, you met industry propaganda it'll distract you until you say enough is enough and you won't keep hemorrhaging money anymore (it happened to me!) - you can't get an 'edge' over the market that way - sorry if i offended
Note
Was no trade as PA and confirmation didn't happen, buyer held strong. but its still a loss in my eyes!! l was hi-jacked from my biased analysis.Turning this Journaling, grow from it !!:
been very patient and disciplined over recent few weeks, which made for building of high win /loss ratio across fx and dax. but with that comes ego building sometimes thats why over time l have found confirmation entries save my ass, money and emotional toll. i'd become personally biased on this setup l WANTED price to do retest lower back to that h4 spiked demand OR EVEN BETTER LOWER INTO WEEKLY DEMAND AGAIN to flush of early buyers,for even better discount instead of listening to what price was really telling me. My top down analysis although clear to move higher l didn't want to see it, throwing caution to the wind l wanted better price discount before these new highs. to combat this never focus on profits or percentages that was my trigger here, but just always just focus on your process not any individual trades. Remember you'll miss trades here and there, that's a given, don't become frustrated if price does't act accordingly to plan as you'll stir up that emotional pot withn where as trading must require emotionless, clarity and no over thinking just reacting. let the market dictate the direction and moves it chooses, never try to better the market it's costly.
Unconventional ways work best, best to journal and grow, not bury it or forget what happened, honesty it's important moving forwards.. one last thing you daily routine exercise, workouts, mindfulness and breaks away from work is just a vital as trading long hours in front of screen.. remember trading is 10% skill, 80% emotions and 10 % risk management.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.