S/R Emini Journal

When you have a consolidation that's hugging the S/R level you're working with, do you trade the break out of that consolidation or wait for the test of the next higher/lower S/R?

 

This is a weird day so maybe strting the holidays early. Did you get out of the 68 with anything?

 

i am a 2 point person. wasn't a big position either so I had a 2 point stop out

 

It depens on what my moving averages tell me at that point. And if I do it with caution. Do you?

 

I got ya, I used to do that also until I had several trades go 1.5 in my favor and then reverse to a losing trade. Then it usually comes back and I could enter again. If I take 1 point the first time then the second I just look for 1.25 the next time. I come out with the same amount of money for the day.

 

I'm getting chopped to death.

Since volume is low I'm switching to a higher time frame.

It's a good thing I'm trading on the simulator today.

 

Looks like the only volume we are getting is on the downside. I am flat and the way it looks I may stay that way. So far 1 trade for 1 point is all I have.

GL

 

With a tight stop, yes, if the consolidation is hard, i.e., well-defined.

 

Totally agree. Today we might not get anything else. We'll see what the PM does. Looks like we have a slight bullish divergence right now though.

 

I'm done. Pace is terrible.