Starting this journal for myself mainly. I trade pull backs mainly on the 240M or daily charts. Rarely do I go to any other time frame, as this is where my edge is. I have been trading the Remek! Trading System for nearly two years now. I felt it was becoming important to hold my self accountable in writing. Trading rules are simple:
1. Price moves to the outer Keltner Channel.
2. Wait for retracement to mid channel area
3. As bull/bear flags form, look for opportunity to structure a trade.
4. Trade risk is based on ATR. Most risk will be 1 - 2.5ATR's from the trade entry or near a recent pivot point.
5. Must insist on a trigger point once price starts to exit the channel.
Here is an example of a failed bull flag. I setup to take the trade at 2363.8, but the price action never triggered the trade so no entry (and no loss).