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Entry type: Buy Stop above high of day and channel
I am extremely happy with this trade. I waited for over a hour for this setup and did not remove my stop entry. I had a 15 tick target on this however, I felt with the breakout of the hourly channel that it might be short lived so I had my pointer on the flatten button. +15 ticks
Note: Not shown is the trade from last night of $45 which will be included on my TST trade report. Total ticks between last night and today 28 ticks. Net: $260
Still bullish on the hour and weekly charts. The overnight 15 minute chart was in a range. Shows some indecision. Will see if there a continuation higher or consolidation of prices (profit taking) today for the bulls.
Notice how the upper channel line yesterday is now the lower channel line on the hourly chart. It was violated this morning. Looking at the weekly chart its really quite amazing where price has climbed back too.
Entry type: Sell Stop below previous bar and double top.
Caught the opening move this morning. It was a solid trade. Took 1 tick of heat. My original target was 20 but moved it back to 16 because I saw some possible resistance from the overnight lows. I had a thought of moving my target to the overnight lows but I decided I did not want to be greedy. Just keep getting base hits.. The home runs will come later. +16 ticks on the trade.
Missed a great entry which would have taken me to my goal for the day. I noticed I was looking for a entry after I missed the trade which translates into me trying to force a trade or revenge trading. Gonna stop here and take a break..
Today was a tough day. Not because of the market but because I missed a great entry on the move up. I was really looking for any entry after I missed the trade. Any entry... At that point I realized my rational for decision making had been compromised so I called it a day. I reminded myself that it was still a good day and there will be others.