27/11/2021
Hello Traders, result of the 24.Nov.2021:
Daily profit: $+138 USD
Since CRM worked well for me the last time, I watched it today as well. In the screenshot violet arrows are short sell order, blue is buy and yellow is seel order(to close a buy). The platform i use differenciates between sell orders to close a buy and a short sell. Just FYI.
After lunch time at 1.30 PM EST, CRM was well overextended from VWAP and formed a M-formation and moved sideways. When I saw the bearish shift (EMAs vut for short, MACD negative, last structure was broken closed) I placed my short sell orders.
After that, prices whipsawed like crazy and I am happy to have not placed a fix StopLoss yet because that was exactly what was hunted in these moves.
I like to watch the trade and calculate my stop before I go in and give it a margin above that just to make sure these stophunts don´t kick me out or make my loss unexpected higher. Think ahead traders and prepare for the worst.
Eitherway CRM moved down to the last strucutre support where I took profits, shorted again on the retracement and closed all short positions on signs of strength.
So I was actualy bearish on CRM but shifted as the market shifted the sentiment. I will not be stubborn and stay short just because I think thats what the market is doing. Read price action and you see the direction.
On the sideways move i filled up my long orders and took profit on the way up until the market closed for the day.
Lesson: Don´t be stubborn, your strategy can be working now and you have to adapt in the next minute. Thats trading and rules apply at everytime. If market is bearish, I am bearish, if markets are bullish I am bullish. It is as simple as that.
Have a good weekend!