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I apologize to anyone following my journal. I had some non-trading personal issues arise and haven't been able to trade and post to my journal for the last few days. In addition, I came across an indicator that really seems to help me with my style of price action trading and have been checking my setups out on the chart with the indicator on. I really like it. I will be trading and posting my results again starting today.
A big shout out and thank you to aquarian1 "Ian" for checking on me. I really appreciate it!
Here was my first trade tonight. It was in my live account. I unfortunately didn't have my TST account setup yet. The trade just completed for +14 ticks with 1K. Very quickly I was able to move this into a risk free trade after entry.
I managed to get this trade in both my live and TST accounts. R:R is a little less than 1:2 at an 8 tick stop with a 14 tick target again. However, if price does reach my target. I will look to reenter. However, I can very easily see this trade pulling back deeper since long term trade bias is definitely SHORT. At +10 I will move my stop to breakeven on this trade setup.
I elected not to go SHORT because the candle close seemed to week in my opinion. I wanted the bearish bar to close below the zone and it didn't. Price has already gone +11 ticks and I don't think it is going to pull back for me to enter at an appropriate level again.
If it triggers. I am risking 13 ticks to gain 24 ticks. Looking at the 1L which has triggered. Planning to ride the 1S down to the next target. Price is currently 3 ticks from my order. I am not willing to risk anymore because this could very easily be a bear trap and price continue on up for a new high.
Update: I cancelled both orders because I need a break from the computer to stretch and the price action is just way too slow right now.
Glad I left the computer and cancelled that last order or I would have been stopped out. I have entered a trade here in a dangerous position and am watching it closely. I am buying High when price only broke the previous high by 1 tick. In fact, as I am typing, a bearish bar closed so I just closed my trade for a 1 tick loss. I didn't want to risk it even though this setup has plenty of room left to go higher.
Update: Price went +10 ticks and is almost to my target. I am okay with it because so many times I have watched price go 1 tick higher than a previous major swing high and then immediately reverse for a major pullback
