TAOST Daily Wrap For Tuesday 10 July 2018

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Subject: TAOST Daily Wrap For Tuesday 10 July 2018

TAOST Wrap

Tuesday 10 July 2018

Quote of The Day

"The way to become rich is to put all your eggs in 1 basket... and then watch that basket."

-- Dale Carnegie

The more focused you are, the better you do.

ES 15m

Notwithstanding an extended dance around TAOST Neutral Zone early today, price reacted to support and resistance in classic fashion today.

Unfortunately it didn't do it in time to save me from hitting my 3 loss limit. Technically anyway.

My 3rd trade was actually a small win (which I hate) because I reacted using my gut to exit the trade because I felt price was about to fall. That was a bad move (even though price would have ultimately stopped me out) because it varied my process (on the stop side). And my grade on the trade reflects that.

Still it was a loss of 11 ticks for the day which is very respectable all things considered.

SPX Daily

SPXL Daily

Summer Of TAOST Bias

1 of my rare 3 "loss" days. It happens. If you're not prepared to accept losses, you can stop "preparing" to trade.

Click to see Bias Trades...

Today's Chart Review
I've decided to use this space to review different names from a chart perspective. 3M [MMM] is today's name for review...

While the Primary Trend remains to the upside, the Intermediate Trend has pulled price back and is now completing a what looks like a Bear Flag... If it confirms, look for $180 to be a big line in the sand...

As always, make up your own mind and mind your risk no matter what you do.

KIS,
The Trader

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Subject: TAOST Daily Wrap For Tuesday 10 July 2018