One-a-day may be the best prescription until after next weekend (Labor day). It seems as if every other day has a single good trade. And of course Friday brought down the average. Fifteen minutes into today’s session set up a nice divergence trade. But unless you use something as sensitive as my moving averages, by the time you identify a trend, it’s too late.
I’ve put ADX on the chart, and it was just over 20 as the first trade triggered. But from my point of view, an ADX of 20 has to be rising to call a
trend. This one was flat. I missed that first trade, not because of an ADX reading, but because I was so sure today would be as flat as Friday.
By the time we got to the next three pullback or divergence trades, my moving averages said FLAT. Good thing, too, because the trades had quite small gains, and I almost always lose money on those. Happy to be flat all day long. (Actually, I really would have liked that first trade.)
