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Today was a quickie. A real, real quickie. The market has been flying high all day long. And then it came to. An exhaustion area, I guess you could call it.
There is a reversal pattern here, I’m not going to go and confuse you guys. So this is a quick trade, right? So I answered around here, and I immediately have my stop. I have two contracts going on. So this is right around lunchtime. So actually going into lunch. So this is a real big time for the slowdown.
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But I did see that this was either going to continue going sideways or it will go down because of the insane run up. The market usually corrects itself. Right. So my green lights were here.
I entered here and I put my first target at this line because a lot of times it will reach this line. And my second target, I made it further. OK. So this is mine. This is when I`m entering.
Then what happened is I got filled here. It was really slow. So I was getting all ready anxious and I had things to do. So I got filled here. OK. And then what happens after I got filled here? Because I got filled with one target.
I still have one more contract left to go. So what I do once I get filled and have my profit, I immediately bring down my risk management to where I entered. So at this point, if the market comes back here, I don’t lose any more money.
I’m already sitting on a thirty seven dollars 50 cent profit right from that one target hit. So at this point there’s no risk. Whatever happens, it doesn’t matter. I already have my money in the bank. So then what happened after that? It got here. So this is another reversal pattern.
At this point, the market is going really, really slow. I simply
This is an entire point. It`s 50 more dollars
It is the longest trade I’ve been in, in a very long time. It was more almost 30 minutes. I normally always get out within 10, 15 minutes as this one was. This one was exactly 50 minutes.
I just wanted to sit it out, but I had to leave. So I brought in eighty-seven dollars and fifty cents today from two targets. So in 30 minutes, I did that. The markets since then have literally been doing absolutely nothing, as a matter of fact. You could see this was where I entered the market.
And this is where I ended up getting out and what happened was it when I came back just recently to look at it. This is what’s going on.
Eventually, it turned and continued back up. So it was a smart decision on my part to get out when I did. Which was right. And this part right here. This is a reversal area.
It is a double bottom when two peaks here and there’s a divergence here. So I would have ended up losing that 50 dollars because it would have stopped me out. So I’m grateful that I got out where I did.
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