Dear traders,
I believe that you alls aw yesterday market action. Indecision is very high and look like even day trade (whole day trade) is high risk, I'm still sure that yesterday short setups were taken at right moment but again during doldrums time all back. Obviously this market wait moment for direction and my opinion is that will be down and it will be strong but it is impossible to predict when that will be. I will follow SBUX, CAG, EXC, PFCB (it is still valid from yesterday) for long side and FLR, PHH, TZOO for short side what will include intraday scanning results. At this moment I don't see reason to post trading plan based on daily time frame because it is really high risk to take swing and my focus will be on 5/15 min setups and if that will turn in to swing then it will be great, but if not we will look for smaller time frame trades. I don't want to take trade with trading plan based on daily time frame. Also I like to remind then when market is in indecision period like now (it is not first time during my 12 years ) it is also very smart to stay in cash, because for traders who want to stay in this business longer term it is also position as any other trade. Personally my activity will be symbolic.
Wish you all great trading day
Ivica
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