4th December – Sometimes the best trade is not to trade

I got home and the markets were choppy. The stochastics and MACD indicators in the 5 min and 15 min charts didnt correspond.

The only entry I could have made was a short around 147000 when the market failed to go higher from here. This was a resistance level set previously today and was what is called a peek top trade. This corresponded also with a cross in the stochastics in the 5 min. However, due to the nature of the markets today, I didn’t take it.

It’s always best to conserve capital… if you’re not sure about a trade, then best to keep out of the markets and conserve capital. There are opportunities every day!

15 min chart

4th-december-15-min.jpg

5 min chart

4th-december5min.jpg

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