My method is based on market structure and price action. I trade using only a range bar and 50ema.
I will trade the ES with a 5 range bar and 2 contracts. I will trade Eur/Usd with a 8 range bar and 20,000K to start.
Trades
I will take continuation with pull backs of 1/3 to 2/3 of last action move with structural bias.
The second is a retest of an inside bid zone or retest of inside offer zone with structural bias.
The last is a retest failure of a confirmed marco bid zone or offer zone.
Entry is 2 consecutive up or down range bars in these zones with a stop above or below the first bar.
Exits
I will be scaling out, 1st target will be at the first structural target of the action move and second will be at a major structual target or full volatility.
Max daily lost 100.00 euro and 500.00 ES
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I follwed my morning Prep on both Trades
I had 2 ok trades on the euro for 54 pips.
I had 1 trade this morning on the ES for 8 pts.
I traded from CST 6:30 to 11:00 most days.
The following 3 users say Thank You to brettwilson69 for this post:
I had a meeting this morning that was schuduled to take a 1/2 hour and ended up taking 2 hours. I had the ES prepped pretty well, but when I got done with my meeting, I couldn't get in the groove. So no trades today. I also did not prep the euro for a down move and missed those trades also. I need to prep both scenarios. I did have a euro trade in the Asian session which wasn't too bad. +26 pips
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I had a late start, I made one lower odds trade and jumped the gun on the second trade in Eur/Usd. I need to wait for my setup bars and I don't need to take lower odds trades just because I missed some good trades earlier. I did manage be profitable in the ES. I had a good read on the ES and Eur/Usd all week.
Results today ES +5 Pts and Eur/USD -46 pips
Results for week ES + 22 pts. 6 wins 1 breakeven 1 loss Eur/Usd 114 pips 5 winners 2 losers
I'll post my spread sheets after 20 trades.
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