💥 Still Holding My Short. (DJI)
Updated
🥇 We are now testing predicted next major support levels from previous post below in related ideas.
First off. If your objective is to trade large timeframes like the 3 day then you need to be willing to absorb noise in a market. If you are going to trade a large timeframe you have to cut out your emotions and let it go. You will never become a successful swing trader if you can't do this. You look for your entry set your stoploss and move on to the next trade and continue to diversify your capital. You will NEVER capture every single exact bottom or every exact top. IT WILL NOT HAPPEN! It's going to take a lot of micro structures to form to create one overall massive trend. If you can't understand this and get caught up in emotions, trading probably isn't for you. I speak about a lot of the basic aspects of trading over and over again to help make my fellow traders understand regardless of what strategy you trade with, the core fundamentals play a bigger role than anything! Cut loss, use stop loss, let the timeframe play out, don't marry bad trades, don't dollar cost average on the way down, cut out emotions.
We have been short on the dow jones since 26,990 which is still roughly around 5% in profit. We had taken this trade based off the 3 hour timeframe as we scouted previous major structure to play. We lined up the Crossover strategy and the ema dots and went with it. We have now broken the green major support level and now are testing major key levels on previous horizontal green supports. You see that price has rebounded off those levels to try and test the upward green strong longterm old support. Remember support can become new Resistance. Let the trade play out. We are starting to get some green compression on the 3 hour candle looking for a crossover and ema dots to line up. My main focus is that we are under that longterm support. If it can hold than we could see a bigger selloff and start to roll this trade over into the larger timeframes for a longer hold, which I would prefer. I am not worried about it and will let it ride to see how it holds up on key s&r levels.
Have an awesome week! Look at some of the previous dji calls in the related ideas below. 👍
First off. If your objective is to trade large timeframes like the 3 day then you need to be willing to absorb noise in a market. If you are going to trade a large timeframe you have to cut out your emotions and let it go. You will never become a successful swing trader if you can't do this. You look for your entry set your stoploss and move on to the next trade and continue to diversify your capital. You will NEVER capture every single exact bottom or every exact top. IT WILL NOT HAPPEN! It's going to take a lot of micro structures to form to create one overall massive trend. If you can't understand this and get caught up in emotions, trading probably isn't for you. I speak about a lot of the basic aspects of trading over and over again to help make my fellow traders understand regardless of what strategy you trade with, the core fundamentals play a bigger role than anything! Cut loss, use stop loss, let the timeframe play out, don't marry bad trades, don't dollar cost average on the way down, cut out emotions.
We have been short on the dow jones since 26,990 which is still roughly around 5% in profit. We had taken this trade based off the 3 hour timeframe as we scouted previous major structure to play. We lined up the Crossover strategy and the ema dots and went with it. We have now broken the green major support level and now are testing major key levels on previous horizontal green supports. You see that price has rebounded off those levels to try and test the upward green strong longterm old support. Remember support can become new Resistance. Let the trade play out. We are starting to get some green compression on the 3 hour candle looking for a crossover and ema dots to line up. My main focus is that we are under that longterm support. If it can hold than we could see a bigger selloff and start to roll this trade over into the larger timeframes for a longer hold, which I would prefer. I am not worried about it and will let it ride to see how it holds up on key s&r levels.
Have an awesome week! Look at some of the previous dji calls in the related ideas below. 👍
Note
Es futures broke out to the upside pre market. Watch out
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