Observations: ADM, BG, ERIC, TIF, and UBS.

I tried, and wanted, to make a trade today, but I just couldn’t spot any Entries!  Here are a few charts that I was looking at this morning.

• It was a NR7 + Inside Bar + (almost) Hammer, and I wanted to go Long had prices broke through the previous bar high
• My Target would be merely the next Fib Level
• It would still put me at 2R profit, had it worked out the way I wanted it to
• It didn’t, and you are looking at the reason why it didn’t
• Fortunately, I didn’t jumped the gun

• With BG, I was hoping that the lowering 5eMA would act as Resistance and push the prices back to the Day-Low
• The Entry Bar was the Inverted Hammer (see circled), and my Entry was set to the Previous Bar low
• I thought with the market in such a Bearish mode, it’s easy to drop back down.
• It didn’t, and my trade didn’t get triggered
• I’m certainly ‘okay’ with it looking at the chart now

• I was hoping for a Base and Break and it never happened
• Once again, I was proud of myself for sticking to my entry rules, and never dive-in ahead of time in anticipation of what *could* happen
• In this case, nothing!

• With TIF, I was almost certain that Yesterday’s Low would act as Resistance and push the prices back towards its Day Low
• Too much wishful thinking there!
• It looks like Yesterday’s Low was blown away just like that!

• As for UBS above, I saw the 3rd Bar Inverted Hammer, but I just couldn’t see an entry in the shorter time-frame
• As prices fell pass the Opening Low, I thought I’ve missed the entry (as mentioned in Twitter.)
• It turned out that this is another ‘Good Miss!’

Overall, I’m proud of myself for sticking to my rules, and not “early-entry” into these positions.  But “not trading” means “no money.”  I need my trades to be more frequent, and more accurate.