Thursday, July 22, 2010

Market Prep and Probabilities

Todays charts tell the story.  Risk management worked out well today. Improved my read on pattern sequences over yesterday but my market prep is still lacking, found myself going long into VAH / Offer Zone with little headroom, okay for a scalp but that's not my longer term objective, short bias was a higher probability from that location.  Remember, think in terms of Probabilities x Magnitude of Gain.  Cleary the bias was down.


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