I found TGT on my 9:45 am wide range bar scan and I was eager to enter the play short. Price action just never gave an entry on the initial drop so I had to wait for a pull back to the declining 20 ma. I ignored the first sell setup at the 8 ma because TGT dropped like a mini climatic and the first sell setup usually fails. I waited until price had hit the 20 ma on the 5 minute chart. TGT bounce hard off the 20 ma triggering the short. I took the play feeling confident that I would be helped out by the weak price action in the Q’s, unfortunately, this was not the case. My entry bar closed as a bottoming tail and price action flurried upward taking out my stop, ouch! If you have been counting, this is my 3rd stop out today, I’m done for the day, I just don’t have my mojo today. It happens, the key here is to stop trading! A few years ago, I would have blown up the account with no chance of a profitable week. Tomorrow is a new day and I’ll be profitable by weeks end!
tgt