Thursday Log – Half & Half in AM

Took a pre-market live scalp after the GDP and jobless reports were announced. Using the 1 minute chart, I took the emotional bounce long in 26’s once 25’s held. Only looking for a couple and only used one contract with target at previous feet of Demon area. Result: +2.0

Once the market opened, I was looking for breach of yesterday close. This is a TC set-up and went short in the live account in 25’s and planned to scale. Scaled out of live with final target near previous angel support. Result: +3.5

Went short in sim using more intuitive trades. Had a higher risk resting sell order in 19’s. Thinking if the recently tested 20’s breaks, market should go to next angel support area. Scaled out down to 15’s. Result: +5.5

Continuing with sim trade, took long bounce from 15’s once doji formed with targets of 17’s and 18’s. Worked out nicely playing the bounce with confirmation. Result:+5.25

Sold from the 50% retrace in sim but was stopped out. I was tempted to put on a live trade short as well but at the last minute took it off as “intuitively” I felt the market was gaining some upward momo…and it turned out to be the correct response. Result: -4.0

Took most of PM session off and was in and out. Heard alert go off, returned to the desk and scalped a live trade for a couple once the -14K extreme $TICK triggered. Took the trade short. I was surprised market did not retreat more than it did. Maybe a sign of EOM strength? We’ll see. Result: +2.0

Kicking myself a little on the first live trade as I went short. All indications were for downward movement. Played half of what I thought might happen in live and second half in sim. Good results that will eventually lead to better trade decisions.

One chart pattern of interest was the bounce off the bottom. Good support bounce off MA’s on other timeframes and doji formation and subsequent HL.

Trade Well !