Monday, 23 March 2015

R-0.2: 2 Losses

EJ trade: after new low close on M30 chart, drilled down to M5 to short pivot high,  exit time stop (R-0.2)

GU trade: when price returned to M30 supply, shorted pivot high, exit time stop (R+0.03)

Missed EU trade: because hadn't labelled extremes see below

intro: woke more tired than I thought I would annoyingly. Did prep keeping it simple, 2 levels on each time frame then waited for them to trigger.  First trade was on the EJ m5 chart experimenting with this sort of momentum play I've been spotting. Second trade more a classic trade of mine, short at supply on GU.

thoughts: NA

summary: had I traded 1:1 I would have got that, but I went for more and ended up break even.  

lessons: quite tired so going to take the following with a pinch of salt.  1.  ensure you're using the more extreme parts of levels as you missed a couple of good trades on the EU and EJ because you used more middling areas which then looked as if they had been tested several times. 2. trade with the trend of the time frame you're on into longer term levels (you trade momentum not value)

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