Wednesday, January 16, 2013

/tf: Hoagies and Grinders

/tf was not the place to be.

/cl and /gc both formed excellent triple bottoms intraday that lead to big moves -- but I am trying to stay focused on one market and this was just a pure grind.  The low vix coupled with the weak ADVN-DECN gave out mixed signals so we had a gap down... grind it up day.

The intraday TL became clear at 9:30 -- (looking back at the overnight session) so one could have either responsively entered the 2 times it touched the line or attempted to enter 5/34 xovers to the upside and then catch the last 5/34 xover and hold for the TL (it hit target almost to the tick).

These low volume days are tough and I need to take more breaks.  It's exhausting in a bad way to watch the grind.

In hindsight, the day was obvious.  I should have been looking for the Line of Support and trading off it. 

/tf: grind days: enter responsively as soon as TL is clear

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