I've mentioned this subject before in this thread but I guess that not until now have i been ready to accept this fact: I'm going to trade daily time frames and that's it.
It's been a conflict inside me since I know that if I had 8 hours per day in front of the London session I could surely be consistently profitable just following the trend, entering on the counter waves.
Anyway, to summarize, I now accept that trading dailys is; safer, less video game like, much less time consuming.
Ironically that's how I began quite a while ago and now I'm back there. I can honestly say that these months have humbled me and any get rich quick dreams are long gone. In other words, I'm slowly aquiring the right mindset - if oneself can be the judge of that...
My goal now is to become consistently profitable exercising good risk and money management.
As for the poor analysis I did the other day, I must have forgotten to take my meds that day or something. Looking back it's pretty obvious that the spinning top probably represented a second week of distribution. Price was supported while huge volume shows that there's a large amount of effort, with very little result - aka distribution when occuring after a uptrend.
It was a very good lesson to be wrong. Making mistakes is the best way to learn. I guess I must have learned a lot already then
