The DoubleMA, used as support/resistance, really did its job today and kept us from falling for those short fake outs, and on alert for the short failures so we could jump back on the longs. And we did, and it worked, and it feels good!
On day's like today always look for the short failures and then jump back in long. Your indicators should help you do this, telling you when it's just a short failure, or if it is a true reversal. Good indicators will also help you measure the strength of the pullback.
I only took one short today and it was a risk (it worked, mentioned in video), the rest of my trades were long which is where the smart money was.
|Download HD full-screen MP4 video|