R+1: 1 Win, 3 Misses

EG trade:

intro: Got short the EG some point this PM on a sell limit set this morning, exited this PM for R+1. Closed as end of day and an intraday position , so didn't want to be exposed overnight. My other sell limits didn't trigger.

thoughts: Slight change of approach in identifying S/D zones which can be seen on the "method" tab
or as follows...

1. Look for the very nearest pivot, gap, counter trend bar in a hard trend or cluster and draw a rectangle around it. Levels below price are demand, above supply. 
2. Now drill down to next timeframe Ie MN to W1. W1 to D1, D1 to H4 or H4 to M30. 
3. The move will now look far stronger on the shorter timeframe, use it to find where the momentum really kicked in and adjust the rectangle accordingly, it should usually get tighter. 
4. Set limit order around this momentum adjusted level, this is your supply/demand level for that time frame. 
5. Levels that are pivots, untested, near LT S/D with fast returns are preferable to the counter. 
6. Include any up/down fractals around the same price to avoid premature stop outs. 
7. Measure the distance between the demand and supply level and determine whether or not there is a desirable profit margin (approx 1:3 Swing / 1:1 Intraday), if there is not you will have to widen your search. 

summary: Like the method above, it is shorter, simpler and easier to follow. Re trade, followed the plan so execution and performance were good all round.

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