Yesterdays market was very fast from the opening, and the opening has been in the range of the previous day. I decide a day would be balancing in the range, and so it is happening. There was 2 probability of day evolving:
A) Balance in the 1333-1342 area
B) Variation from this area down or up. So i decide to go with the flow of variation in it direction. Before the variation, i has doing scalps 1342 shorts and 1333 longs
There was only 2 trades i can execute because there was BIG guys, small risk and good reward.
I was short 1338.50 than long 1333.50
Then market went down i was with the flow as i planed and execute short trade at 1332.75.
Last trade was 1326 long- BIG guys- good limits and good risk reward.
So there was 4 trades
3 of 4 is +
1 of 4 is - this was long at 1333.50
I was in hurry and enter to early in attempt to catch the knife, but very quick i go out as i understand my mistake.
What is up today?
Yesterday we had liquidation of shorts.
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Market weak and it supposed to go down today. but market is market so i will keep my head focused for what is happening in the moment.
Todays opening will occur in the middle or close to range of the previous day. And this is important info too. Because such type of the opening show me there is exist probability of range day without direction.
At the moment my game plan scalps once again. Scalps at the range prices.
1333-1326 is the long area at the moment
1338-1342 short area
May be everything will change and i will change my game plan. Stick this thread and keep watching. May be i will do updates today time to time than i will have time
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The best way for people to get more info on this is to observe and then ask questions about their observations.
If people would put the time in and then come back here when they struggle or even after every few days of watching to ask questions about what they see - it would be a great thread.
This isn't about setups, no-one's going to give you a magic money making formula from tape. Once you spend time on it, you'll have a lot of questions and it certainly appears that people still have their eye on the thread.
60-90 minutes per session. 1-2 sessions per day. Charts off. Total focus.
Do that 5 or 6 times and you will have a hundred questions about what you are seeing. That's the way to learn.
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