Russel 30 min - Interpretation
The Russel has been trading below both moving averages, that indicate the bearish market.
Recently, it broke out to downside from the balance, and it snapped back to the upside. That is a great reversal and turning bullish. You can look to go long in 1 min chart.
Gold 30 min Chart Interpretation
The market was below two moving averages, that indicated a bearish market. It reached the 30 min chart resistance area, where you could go short on flip on 1 min chart.
Volume Expansion at the Resistance
Trend begins with volume expansion and ends with volume expansion.
Great Quotes
The key to regaining self-confidence in such a situation is to turn the focus from making or losing money to the actual process of trading.
You control how you trade; the market controls how and when you'll get paid.
You can't control your P/L statement, but you can control whether you adhere to trading rules. Your focus becomes one of trading well, not one of making money.
Another powerful source of self-efficacy is preparation. When you prepare your trading ideas for the day or week, you generate a sense of mental mastery.
I am impressed by the degree to which traders who prepare rigorously feel as though they desire to win.
Self confidence is not expecting the best; it's knowing, deep inside, that you can handle the worst.
A great way to build self confidence is to focus on how you trade when you're in the hole. If confidence comes from successfully navigating adversity, you can build confidence by workie on how you trade when trades go against you.
**You can't control whether you win or lose on a particular trade, but you can't control how much you lose and how you lose it.
Every trader needs a plan for losing.
Daily Trading Coach
