$TSM Good of example of what not to trade
Updated
One of the many things I need to work on is PAYTIENCE... waiting for a good set up and instead end up over trading (usually for a loss).
TSM great example here - resting on 200MA as support ? Possibly. Recently rejected at anchored VWAP could imply a further move down. Middle of channel. Also bottom of wedge... etc
Point is, right now no clear indication of wether TSM will break lower or higher to me so... DON'T TRADE.
Paytience until bottom of channel or break of VWAP. Then reassess and make a trade if it fits.
TSM great example here - resting on 200MA as support ? Possibly. Recently rejected at anchored VWAP could imply a further move down. Middle of channel. Also bottom of wedge... etc
Point is, right now no clear indication of wether TSM will break lower or higher to me so... DON'T TRADE.
Paytience until bottom of channel or break of VWAP. Then reassess and make a trade if it fits.
Note
Approaching my Buy Zone , alert set at 108
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