A key for the above chart to define the horizontal lines and dots. For further explanation, see this link:
I'm a particularly lousy scalper in the first 30-45 minutes. Something I really need to work on.
Also, I feel as though I'm wasting my time sitting through corrective moves. Today being a perfect example; After my initial target was reached (and half the position removed) I sat through about an hour of a corrective move just for price to come back to my first target. In the process, a squeeze could have occurred, or price could have formed a higher low, never to see my initial target price. Likewise, price could have fallen sharply and quickly, but more often than not it feels like the time decay I endure could be minimized.
Maybe it's something that I should consider hedging? Selling puts? Buying the QQQ or a levered ETF? Just not sure.
Not taking the 9:30 short was a complete fail on my part. The pullback after the ISM report selling was a very obvious pattern (3min chart) in my view. Even before the "trigger" I should have been shorting that :/
Higher time frame:
Looks like 3-pushes to a high pattern on the 65min chart. Conditioned bulls will be looking for the "lower high" so I'm thinking $139-138 will see some accumulation.