Scalping Takes A Lot Of Focus

Sorry I could not write more this morning. It’s been a somewhat chaoppy day. At least in the way they we reversed direction a few times. I cought on to this early and went into scalping mode. Scalping takes some serious focus so it’s hard for me to write these entires at the same time.

I was just checking in on the 1:00 time frame. Not much of anything. So I will break again until 2:00. Market Profile wise it look s like we are provoking trade at the meaty volume area from last Thursday. And right below us we have some meaty volume from last Wednesday. on the daily chart we did hold over our 12820 number but I expect a pullback early part of this week just to relieve some pressure. I am going to stay in scalping mode the rest of today since it looks like we will trade around the high volume profile areas.A move down I would target 12922. Anything lower then that today would be a significant win for the bears.

Still In A Holding Pattern

So the LVA of 12866 was met to the tick. But as I mentioned earlier the signals are weak. I am going to take a break. One of the things that I think new traders have a hard time with is knowing when to trade and when not to. In my opinion It’s better to let indecision play out without having a position on. Yes you might miss a move but so what. Another move is right around the corner. So for now I am flat and going to take a break for an hour. Maybe hit the gym. Back in awhile.

Good Morning Fed Day

A quick trade idea look at the open here and we see from this market profile chart that we opened above yesterdays HVA. Tested the LVA from Monday and had trouble getting in that area. However their is a untested POC above at 12896 so if Ym stays above the 12864 level I will take a long at an attempt to target the POC from Monday.

Looking Bad

Like I said , that last trade is not something I would normally do. now we can see why. I hope this is a lesson learned in that if we have a defines rule. Like no trades at a certain hour, stick to it. I am taking half of this position off at a lose at 31.50.  The indexes are still holding so let’s see if we can get that to help boost our remaining shares here.