Friday Log - Scalps After Trend Day With Combo's

Began the day with pre-market longs after the employment eco report was announced and market settled down. Went long from 12's and 14's and looking to scalp 1-2 points on each sequence. Took all off at one level on each of the two trades: Result: +3.25

After the open, I was waiting to get a feel for the price action. Wanted to go long from 15-16's in anticipation of 1/2 gap but didn't get in as I waited with good patience. In hindsight I could have entered with stop just below the 15 open.

Forgot about the factory inventories report @ 1000 and was long just prior to the announcement in 18's, got lucky with stop not getting set as price action was quick. Scaled out in 20's and 21's. Result: +3.25

Tried short from 23's in anticipation of yesterday low not being taken out. Stop was 1 point and got stopped out. Result: -1.25

Failed to re-enter under next "natural" entry area of below yesterday close. But waited for pullback using combo theory, went long in 20's and scaled out in 21's and 22's. Result: +2.25

Used combo thinking on each trade. Looking at middles and key levels. Continues to amaze me how the combo's play out over and over again. EWS proves profitable again. So, since I had a good morning and it's a Friday after a strong trend day, I expect range and chop during remainder of session. For those reason's, I am starting the weekend early. Learning not to over trade and especially once profits are bagged. Have a good weekend.

Trade Well !

Wednesday Log – The Day After Hangover

Trader Tip - Generally after a large move the previous day, look for the next day to “recover” by digesting the move and trading in a fairly tight, choppy range. This is a scalp only type day we should plan for unless proven otherwise.

Identified the overnight range and played long in live account off the bottom a couple time pre-market. Stopped out on first trade once the emotion hit after 0830 eco reports were announced. Got back in at 92’s once overnight low was taken out by a couple ticks and did not go lower. Held thru the open and scalped and scaled out. Pre-Market Result: +1.5

With another eco report due out at 1000, I was just looking for scalps with tight stops in place. Identified the PG area and worked my trades off of the pivot for 1-2 point profits and one point max stops. Once the emotion started to work its way out and new low was made (thinking stop run), I got back in long in 92’s (back to the ‘92’well again) and scaled out at 94’s 95’s and 97’s. Result: +9.5

Waited for short side trade 999-1001 area. Got in short just before 1100 in 99’s with stop above 1001 (overnight high). Still in scalp mode and scaled out in 97’s and flat once 96’s closed the trade. Result: +4.0

The market put on a nice “bender” yesterday and due to internet connection problems I was having, was unable to belly-up to the “bar”. Made up for some of it today with some good scalp trades and a good feel of market “rhythm” in AM session. Not trying to do too much and taking advantage of Mr. Market’s “morning after hangover”.

Trade Well !