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Trade 1: (BoPb, long): -2,0 points
Reasons for taking the trade:
- PB (H1) to support after strong bull leg
- BO test
- First leg in session so 2nd leg expected (MM target)
- signal bar (bull reversal bar)
Trade Plan:
SL : 2,0 points
Target (MM based on first leg): 4 points
RR-Ratio: 2,0
Comment: Ok entry plan. SL management not OK. After the strong bear reversal bar + DT at high of day, I should have tightened my SL.
Trade 2: (BoPb, long): -1,75 points
Reasons for taking the trade:
- PB (H2) to support after strong bull leg
- BO test
- First leg in session so 2nd leg expected (MM target)
Trade Plan:
SL : 2,0 points
Target (MM based on first leg): 4 points
RR-Ratio: 2,0
Comment: Ok entry plan.
Hindsight Thoughts
Two losers today. That's another bad day. But I don't see that I did any big misstakes. This may just have been a difficult day.
Trade 1 (S/R-O, long): -2,5 points
Reasons for taking the trade:
- signal bar at support (bull reversal bar)
- Orev and possible LoD
- MM target above based on bullspike from ON session
Trade 2 (BoPb, long): -2,25 points
Reasons for taking the trade:
- signal bar (bull reversal bar) at support on 30 min ETH chart
- H2 at bull channel TL and EMA 60 min on 30 min ETH chart
- MM target above based on bullspike on 30 min ETH chart
- Tight bull channel on 5 min chart
Trade Plan:
SL (below signal bar): 2,25 points
Target (MM target): 5 points
RR-Ratio: 2,0
Comment: Not ok entry plan. The entry was based on the 30 min chart but the SL was not based on the 30 min signal bar which would have been 4 points (although the actual risk only was 2,5 points). The RR-ratio with a 4 point SL would have been only 1,25.
Hindsight Thoughts
The main problem today was that I didn't realize that this was going to be just a small TR day. Since last week was an outside bar, this week will likely be an inside week and thus a move up to test ATH is unlikely .
Higher TF charts and ON Daily chart: TR or Bull trend and new HL approaching ATH and high of prior TR. 3 consecutive BO bars but waining momentum. Market may trade sideway until the FOMC notes release.
120 min. chart (ETH): Sideways test of Bull channel TL. Just below ATH and high of prior TR.
30 min. chart (ETH): Sideways test of Bull channel TL. Bull Wedge top.
Overnight:Overnight has traded inside prior session range on relative low volume.
Scenarios (blue), S/R-levels (pink) and Targets (green)
Hindsight Thoughts
No good trade opportunities within the first 3 hours today. It was apparently the right decision to be cautious before the FOMC release.
Higher TF charts and ON Daily chart: TR or Bull trend. ON made a new ATH and we have 4 consecutive daily BO bars but waining momentum. Today may be a bear reversal day or a bull trend continuation day.
120 min. chart (ETH): Bull channel. BO attempt of prior ATH.
30 min. chart (ETH): Bull channel. Possible PB to confluence of prior ATH and bull channel TL.
Overnight:Overnight has made a new ATH on relative normal volume.
Scenarios (blue), S/R-levels (pink) and Targets (green)
Reasons for taking the trade:
- It thought that it was a trend day.
Comment: Not ok entry. This was not a trend day and there wero no reasons to assume this since we had a TICK diveregence, a failed BO and no close above VWAP +2 SD.
Today I was unfocused and I start to lose motivation since I see very little progress in my trading.
Higher TF charts and ON Daily chart: Bull rally. YD made a new ATH and we have 5 consecutive daily BO bars but waining momentum. YD was the biggest bar since the first BO bar so this may be a climax. Today may be a bear reversal day or a TR day.
120 min. chart (ETH): Bull channel. Start of sideways break of bull channel TL.
30 min. chart (ETH): Bull channel. Start of sideways break of bull channel TL.
Overnight:Overnight has a traded sideways within YD range on relative low volume.
Scenarios (blue), S/R-levels (pink) and Targets (green)
Reasons for taking the trade:
- H2 after strong BO
- Possible MM of pre-session bull spike on 30 min ETH chart
- Enough room to resistance
- Buyers below entry bar (big lower tail)
Comment: Ok entry. At this time I did see no signs that this would be a small TR day.
Reasons for taking the trade:
- HL after DB bull flag
- PB to VWAP (=support)
- Possible MM of pre-session bull spike on 30 min ETH chart
- Enough room to resistance
Comment: Ok entry. At this time I did see no signs that this would be a small TR day.
Hindsight Thoughts
Another losing day. My problem today was that I did expect anothler leg up, a Measured Move based on the over night bull spike up to the resistance level at 2417,75. Instead we had a 4,5 point small range day. Were there any signs one should have noticed to forsee that?
