22nd May 2012

I am now at a point where I am trading my fear of the probability not working rather than trading the probability working trades will always not work they have to not work but I am getting and seeing good entries and not taking them.  TRADE THE PROBABILITY OF THE TRADE WORKING.... FOCUS

+8 Dow

There was some very interesting price action earlier in the day today with price making higher highs but the price looked very weak easy to say in hindsight but it was like the price was dragging more and more longs in and then just made them all puke in a massive sell off.  If I see something similar to this I'm sure the best way to trade would be fade the legs up then add to the position when it shows you it is right because the move will beq quite violent.  It was like price was hitting a brick wall of resistance on every leg up and making a wedge pattern away from the resistance level price was getting slightly weaker with every bounce then it would push up hard but only just make a higher high it did this 3 times then collapsed looking at the PA it was interesting to see.