I wasn't brave enough to short the market on the tests of 882. There was a possibility that the market would trade higher, since seasonal charts show the next week in July to have a bullish sentiment. It wasn't until after the Crude Report at 1030 ET that the market started to treat resistance and support lines the way a good trending market should.
After the report, the 0930 ET open then was treated as resistance with the market finally breaking the overnight and yesterday low lines. When you have a successful break, the market seldom will cross that line again.
Charles
Hello Charles,
ReplyDeleteyou are letting too much information (seasonal price patterns) distract and block you.
Keep it simple and trade your set ups regardless
of seasonal mumbo jumbo or the weather.