Good Evening Overnight, Everyone deserves a 2nd, 3rd,.....1millionth chance at redemption in this trading business. Allow @padutrader redeem himself in trading in peace. There is no cure when a man is obsessed with something.
sold Es 5801.25 stop 5805.25 target 5796. this was the first move above the ema in this bear, was the second gap bar, and above an established range, so expect market to be attracted to that. according to Brooks [ATB]
there were 2 attempts to get past the high and the second attempt failed and formed a bear DT flag which was then tested after market found buyers at the ema.
the H2 buy signal closed a gap and since closing the gap, means a reaction from it, as well as the H2 being sold, since the ema was flat, led to my expectation that a move down was possible/probable.
stopped out. what i missed was the big picture which was 3 pushes down to the breakout point which is also the bottom of the range and so was a buy. it was wedge reversal so 10 bars sideways to up [ATB]
the third bar from the right is a big bear bar which reversed the bull so expect one more weak leg down. why weak? because the bear bar, even though big, is too big . also the down move to the left finished the market cycle and the big bull bar reset the market cycle, so if i am right i will get a H2 which i am waiting to buy.
now the market fell in a big bear bar which was a strong -not weak -second leg but it was also a bull flag which i entered long at 5796.75 stop at 5794.75 for TARGET a channel and TR up.
ok so now i have made 2 points on 9 contracts a side and made 925 usd. is that acceptable? you say it is sim? well i was given sim. give me live and i will do the same thing.
sold at 5812 stop 5815.25 target the other side of the range.5785 is one target ATB when there is a breakout of an established range market will go back into the range and possibly the other side.