General comments; Context looks good Couple of trade too risky given the PA/ environment Wondering about the 2 PBs you had to hold through on trade 1 Blue rectangle (referenced in trades 4, 5, 6) â is congestion â best to stay clear of this area (sit on hands when price is in it.., or near it) Overall â Good Job Trade 1 higher low long at 3518.75 stop 3515.25 target swing high of 3532. Comment Canât see all the trade (what occurred prior to the entry â nor the swing high target â nevertheless) Entry â Solid Stop â Very Nice Target â holding to the target took some guts â through the PBs that breached your 1st TL â but not your 2nd TL â any thoughts on that?? (see my red circles) Trade 2. higher low long at 3527 stop breach of up move trend line approx. 3524.50 target 3532 last swing high. Comment I like your TLs Notice the tails prior to your entry = buying (supports your thesis of going long) Entry â Very Nice Stop â Very Nice Target â Very Nice⦠also notice the momentum heading into your target Trade 3. lower high 3737.75 stop 3541.25 target breach of down move trend line. Comment I donât like this entryâ¦, price had been moving up (buying / aka strength) â and youâre shorting essentially at the bottom of â a zone/ range/ support (highlighted in yellow) Better if you had allowed price to BOD (if it was going to) then entered short on the next LH or even wait for a PB Entry â Check your entry price (3537.75???) â trade Risky Stop â Very Nice Target â A breach of which DMTL (youâve drawn 2) Trade 4. lower high short 3525.25 stop 3528.75 target swing low of 3510. Comment This is a risky entry; Whoâs to say this was not a reversal â price was moving up â then moving down â and now price is in the congestion formed early in the morning (blue rectangle) Recall when in a range â and tails on top/ tails on bottom â both sides fighting for control Better to wait till price clears (BO) one side or the other Entry â Risky Stop â Solid Target â Way too optimistic based on the sessionâs previous PA Trade 5. higher low long at 3522 stop below signal bar at 3518.75 target last swing high of 3528.50.6. Comment Another risky trade Price just coming off making a new LOD Itâs forming a small range at the bottom of the congestion (blue box) / and at essentially the bottom of the previous swing low Entry â It workedâ¦, is all I can say Stop â Good Target â Fair enough Last trade lower high short at 3543.75 stop 3547 target last swing low at 3528. Comment Entry â Good Stop â Too generous (shorting after strength) Target â Too optimistic given price cleared the congestion (blue box) & price pierced your 2nd DMTL (green circle) & and price had been moving up with momentum RN
My focus this week will be to concentrate on only the best trades and sit on my hands when the market tells me to be patient.
Sweet ============= The zones you've identified - keep em and let's see how/ if price plays to them tomorrow price - the ultimate arbitrator RN
How about I do the same as you - post what I'm staring at w/ some context Then we can see how/ if price plays to any of it tomorrow (Iâll post a EOD snippet) Btw â see where price retraced & tested the pink DMTL (signal courtesy of H123 ) Trade Patiently & Selectively Tomorrow - win.., lose.., or draw Sir RN
Today was a very strong up trend from the open. I only marked 4 trades today all longs. 1.long on a higher low at 3678 stop 3674.25 target breach of up move trend line. 2. 3588 another higher low stop at 3585.25 and target breach of up move trend line. 3. long on a double bottom 3591 stop 3588.75 target breach of up move demand line. last trade test of top of range at3603 stop 3600.25 target I set at 8 points the same distance most of the other trades moved before breaking the trend line. Days like today make me wonder if my system needs to be tweaked to catch more of the up move.
Overall comments Good job seeing / accepting it as an up day and going with it â be surprised how many fight themselves during these types of days and keep attempting to short Makes for a very frustrating day Love the zone you identified TLs â Good job =============================== Trade 1 long on a higher low at 3678 stop 3674.25 target breach of up move trend line. Comment I donât believe your entry & stop prices Entry â Stop â Target â Good Trade 2. 3588 another higher low stop at 3585.25 and target breach of up move trend line. Comment Entry â Good Stop â Good Target â Good Trade 3 long on a double bottom 3591 stop 3588.75 target breach of up move demand line. Comment Entry â Good Stop â Good Target â Good last trade test of top of range at 3603 stop 3600.25 target I set at 8 points the same distance most of the other trades moved before breaking the trend line. Comment Entry â Good Stop â Good Target â I do not like the way you set this target â by using hindsight bias â please donât do that going forward (every moment..., and trade..., and outcome - are unique) Good Job Btw; Didn't attach a chart today - because yours is quite good RN
I'll assume you're thinking out loud here... and will reserve comment unless you ask for it... Or/ And... I can also be a sounding board if you like RN