Wednesday Log – Not Great But Better Today

Market opened with an up gap of approx. 11 points. Second candle print set the pace. I had a short waiting to fill @ 51.75 just prior to the bell but missed the fill by two ticks. Waited for first pullback which came at about 1000 and entered short @ 46.25. PO1 hit for two points and let the runner go to just above PP. PO2 hit. I felt very good about this trade due to having a good plan going in and letting the trade work. The market told me what it was doing and traded accordingly. Need to do that more often. Result: +7.75

I missed the 1st TC setup @ about 1036 as I was away from my desk for a few minutes (costly coffee break). Also missed (forgot) about CO level and missed initial move thru it. I will start to draw a line on my chart to indicate CO area beginning tomorrow. On a retest of the CO, I entered short for a quick scalp which was within .75 of the move. Result: 2.5

Another TC setup at approx. 1442 and was at resistance area of intraday trendline and S1. The setup was there but maybe not as clean as it could have been. Price made a HH after previous TC setup in mid-upper band and green trend candle. 1421 time period would have been a better entry for PO1 to be hit. Result: -2.5

Tried a couple more shorts but basically scratched on them. As it turns out the decision to scratch was good although 1 point per C could have been realized. Was also looking for retest of LL area at 927 area which might have setup the CE near the 1535 time area but didn’t setup. Price found its way back to VWAP on 3 min near 1600. Result: +.50

Two MO’s which were both TC setups.@ 1033 and 1218 area. Need to trust the setup. Starting to look for and see the price bar setups and legs discussed in “Price Bars”. The High/Low 1,2 etc are viable areas of entry / exit considerations. Will continue to study.

Trade Well !