TRADING BLOG EP. 70 - LOCKING IN PROFITS BEFORE BREAKEVEN
I had a very nice start to the week. I took a quick buy position on the S&P 500 off of the VWAP & under a Value Area Low. However, I got stopped out at breakeven after locking in some profits. I’m perfectly okay with this outcome, because even though my bias was wrong, I was still able to make money.
I got long underneath Thursday’s VAL. The market traded into the Daily VWAP & I could see sellers getting trapped/absorbed by a passive buyer. Once the sellers ran out of steam, buyers had an easy time responding to these lower prices. Once I got the confirmation in the orderflow, I got long & took the market to the upper extremes.
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