Certainly not what we wanted to see nor what I expected. Technically we bounced off the 50sma and formed a Bullish Harami candlestick pattern. These are Bullish indications.
However, we didn't breach the 8ema and we had somewhat lower volume today. Perhaps the big traders took today off to get a 4 day weekend. Also, its natural to have some profit taking after a strong move and before a 3 day weekend. Its also natural to test the underside of a Trend Line you broke through. We didn't get up as far as the Trend Line but we did make a move towards it.
Emotionally, I definitely wanted to exit this trade today and not take the risk of a big gap up after 3 days of no access to the market. However, I exercised my discipline and decided it was worth the risk to allow a counter-move. Using the mini-contract helped mitigate the fear of being out of control over my risk.
It also helped a lot not closing over the 8ema.
Bottom line, I held our Bearish position.
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