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Allergies are kicking my butt today. I am not mentally sharp as I should be. Feel like I am on a 30 second delay. This may be the reason I have missed 3 trades today. Didn't help that I got a late start. Gonna take a break for a while and come back after lunch. If I don't feel better by then I will call it a day and start fresh tomorrow.
Robert
nosce te ipsum
You make your own opportunities in life.
Can you help answer these questions from other members on NexusFi?
As i stated in a previous post I missed 3 trades today. I think I missed them because I was not 100% focused due to illness. Feeling better than I was this morning but not well enough to risk another live trade. Hindsight being 20/20 I probably should not have traded today.
Right now with the current state stop entries below the support and above the resistance is my most profitable entry type. I am going to continue to use this as my primary entry vehicle until it stops working.
Knowing the markets can change any day I am starting to practice other entry methods. I would like to have 3 main entry types. I documented a second entry type today.
Documenting my trades before I move on to the next trade has been a interesting experience. A benefit from documenting all trades is it has kept me from over trading or re-entering a trade after I exit. Having time in between trades gets me away from the market long enough that I have to re-evaluate the market state. Less bias going into the next trade.
CL dropped overnight. It broke out of a range around 9:30 EST last night and fell 1.30+ before rebounding. On the weekly chart CL is stuck between the support and resistance area and resistance level @ 8948. There was a double top formed yesterday on hourly chart. See green box at the top of the hourly chart. This was not well defined. On the 15 minute chart there was a 50% retracement of the overnight downtrend. CL feels like it is stuck between the support and resistance areas. If CL breaks into the support and resistance area and makes a new low for this week (below 8780) we could see a march toward lows of last week
Got stopped out on the breakout. My entry placement was good but I realized when I was looking at the chart that my best trades are when the opening of the bar is near the support / resistance line. This bar was far away traveled too far before hitting my entry. -12 ticks on the trade.