I'd like you to look at the post I made on Monday called The Dream Scenario. In it I wrote, "The ideal scenario, as I've shown below, for me would be (a) a climb up
to the underside of the broken wedge – – let's say at 850 or so (b) a
plunge from there."
Well, the market did climb to "850 or so" (emphasize on the "or so", since it almost got to 860), so I was absolutely right on my analysis. Yay, me! But the last two days have been a mess for me. How come? Let's take a look:
The move on the /ES wasn't the nice, clean arrow up, was it? There was a lot of noise along the way.
It is very hard to see that one's analysis was correct and yet still not make money at it. In this instance, I don't beat myself up too badly since I'm not just going to ride the /ES down to 780, hoping it'll turn around. My stop was established, and it did its job.
The silver lining to this is that the "Dream Scenario" is still very much in play. It's encouraging to see that what I was projecting is, so far, so good. I got the up arrow right. Now let's see if that down arrow is going to materialize for us or not!
