I'm Human

And as such, I make mistakes. I've been trading well over a dozen years, including professionally and guess what, I still make mistakes. Of course it's easy to make a mistake in the market, but this is a mistake I've already learned from, I shouldn't have made it, but I did because of a couple things.

1) Gun shy
2) Instead of looking at my analysis and giving it priority, I read and took to heart 1 too many articles.
3) I didn't want to be wrong

I know better, each and every one of these mistakes, I know better. We are in the market, it can be random, it can turn on you, but YOU HAVE TO, make the best of the information you have RIGHT NOW. Not speculate or guess what might happen when you have something solid in front of you.

So here was my mistake. Yesterday I saw UUP or the US dollar looking good, like it was under accumulation, I confirmed with FXE (The Euro Trust), I captured all the images which takes some time and even started uploading them and then decided, "The dollar has been getting hammered, I just read this and that about why it'll be hammered more" and there was my mistake.

I have an obligation to my readers and if I'm wrong or things don't work out according to analysis, at least I used analysis and not a guess. So trading is a lifetime of learning and in some cases re-learing. That's my confession. I'll tell you, if you want to improve your trading, keep a journal of your trades and review it about a month after you closed out the trade. You'll learn quickly, you'll see patterns and be able to identify-thus fix problems. It sounds boring to some, but a trading journal is an excellent tool, especially to fid out what kind of trader you are, when you are most successful so you may apply those attributes to trades in the futures. WOWS serves as my journal in a way.

So here's the Dollar via UUP.

UUP hourly suggested that the break below support was a false breakdown. How many times do we see these before a move starts? I'd say nearly every time.

UUP 15 min-the Swing time frame, very positive and led to this morning's gap up.

Just a a warning and maybe as a tactical note, there's a 1-min negative divergence, so there may be an intraday pullback that allows you to buy the Dollar/Dollar Index/UUP/etc at slightly better prices. The longer term charts look pretty darn solid. So back to retraining myself.