nice pop and drop, tough day for me to read

 hammer on the 5, i am pretty sure it hammered on another time frame otherwise i wouldn't have taken it

there we go, a few hammer and doji'ish looking candle. i must say, i wanted to hit out once it started retracing but i didn't. it was just annoying me that i waited all day, and as soon as i put the trade on it was down .10. well once it turnaround, i bought some more. then when it went through the .14 level i bought some more. no real reason to sell it. i was just losing my mind saying, i can't let .25 disappear and we all know it was a choppy day. but i can say, i wanted to hit out after it went +.15 but i held, and kept holding. so i have to comend myself on that progress. i kept saying what till the chart tells you to get out. its freakin hard to hold!

dtf brought this chart to my attention

CAL, missed this one

tough read

market turning over after pop, i didn't want to risk any money, so no trade

phew. only one trade today. it is hard waiting for confirmation on the higher time frames. i did pass a nice signal on the QLD because it was only the 5 min chart, no confirm. for now on i decided that if the market is flying and moving fast, it will be okay to trade the 5 min bar for a reversal and not wait for confirmation.

there were some other trades out there but they were hammers either on the 10 or 15, which makes the stop really too large for me. i guess i am always just searching out the dojis so i can have a nice tight stop.

very difficult morning to read. i am glad i waited until i saw something. glad i watched the 10 and 15 and they slowed down the chop. i did try to catch PCAR and RSH as they were running. I am okay with playing those momo stocks when they are moving, that will just have to be 10% of the trading plan. i should have kept an eye on RSH because after the pullback it had a nice move up again. i will load the chart up later.

have a nice weekend everybody.