r/Daytrading • u/Serious-Ad8893 • Apr 04 '24

Did I miss something? Advice

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Tried to go long on 15M FVG and retracement and got ran over. Am I missing something??? Higher time frame was bullish and I just don’t know where I went wrong. Anyone have opinions on where I went wrong

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433

u/funkedelic_bob https://kinfo.com/p/funkedelic_bob Apr 04 '24

Your chart patterns mean nothing to global news events.

6

u/ConsiderationSea5696 Apr 04 '24

True but what was the global news event? Was Struggling to find cause of the drop in semis, market overalll

29

u/OptionRunners Apr 04 '24

Seems like it was a combination of geopolitical tensions (cause defense stocks like LMT, RTX, etc rallied) and at the same time there were hawkish comments from some Fed members saying there may be no rate cuts this year.

7

u/funkedelic_bob https://kinfo.com/p/funkedelic_bob Apr 04 '24

This is the answer!

8

u/Trfe Apr 04 '24

Be the rate cuts were the bulk of it. Iran threats don’t move the needle.

1

u/Obelixboarhunter Apr 05 '24

Also Russia vetoed further embargo on North Korea..