Okay, but bear in mind that there are different ways of trading PA. While channels may have some merit, I find that they are a fairly blunt instrument given to frequent false signals and generally require larger stops than I prefer for my own trading.
There were 2 set-ups today. One was good for 9 points and the other was a loss of 2 points. I was busy today so did not get a chance to trade.
good day overall. I was able to catch the morning rally. I received few PMs and suggetions. One of the suggestion was to not take a trade if the low today is less than the low yesterday. This is a good suggestion. I started looking at support and resistance on the daily and 30 minute chart too. 3 trades...3 winners. Total 12.5 points before commissions.
BL: 83.25 S: 81.25 T: 92 This is a different set-up that I trade than the one mentioned in the first post. Edit: Filled
2 resting orders, BL: 68.25 S: 66.75 BL: 66.25 S: 64.25 Trading longer time frame. Target 91 or exit at close. Edit. Since the exit of 1 is close to entry of 2, I'll move the stop to 64.75.
Stopped out on the first trade and went long at 66.25. 2 trades, 1 win (7.75), 1 loss (-1) for a total gain of 6.75 before commissions. Good day because I entered the limit orders and stops and went away from the computers and came back 30 min before close only.