Today we had 0 pt Con gap that met Hight time Frame resistance with 15m EOT and 13500 R cycles as well as 4500. After the large gap trends from earlier this week we are due for a day such today. tighter ranging day. However the market strength is still evident and im expecting higher prices by weeks end.
Recap Notes:
Trade Selection - Ok Trading, Good Entries, Ok Exits.
Sequence 1 This trade was a 1500/500 cycle with a block bar . However it was into Resistance and on the higher time frames we had solide resistance. The Trade was not bad and did move 1pt in favor but failed. Ony regret is the poor exit.
Sequence 1A Reentry This trade was an impulse to the 1st trade that simply failed so i should have sat back and waited for a clearer picture.
Sequence 2 - This was a good trade taking the 45/5 and getting more on the price went in favor as expected but the exit were accurate but the fills cost about .75pts so profit was minimal.
Sequence 3 This trade was a 1500 single cycle after the initial rally that provided no real entry point. The 15 cycle printed blocks on the small move lower just prior to the 1st Ti, indicating the potential to continue the rally. We also had the 1st test of the 0 Line in $Tick. Good job of taking profit off the table when presented.
Sequence 1A Reentry This trade was an impulse to the 1st trade that simply failed so i should have sat back and waited for a clearer picture.
Sequence 2 - This was a good trade taking the 45/5 and getting more on the price went in favor as expected but the exit were accurate but the fills cost about .75pts so profit was minimal.
Sequence 3 This trade was a 1500 single cycle after the initial rally that provided no real entry point. The 15 cycle printed blocks on the small move lower just prior to the 1st Ti, indicating the potential to continue the rally. We also had the 1st test of the 0 Line in $Tick. Good job of taking profit off the table when presented.
ADJUSTMENTS & OBSERVATIONS:
Patient on the Open waiting for the cycles is the key. Allow the directional Premise to show itself
Be patient and keep the Probes to a minimal
Take small profits when given!! Im expecting larger moves due the wider ranges of lately. However I need to STOP looking for home runs and take the singles to get into rythme.
Be sure to WAIT for Qualified Sequences ONLY!!
Be patient and keep the Probes to a minimal
Take small profits when given!! Im expecting larger moves due the wider ranges of lately. However I need to STOP looking for home runs and take the singles to get into rythme.
Be sure to WAIT for Qualified Sequences ONLY!!