1 Loss = 0.02 lots
Overall Market Structure -
Daily = Bullish
2H = Bullish + premium
15m = Bearish and in a Demand Zone
Daily Report Card
1.Nov 15th 2023
2. Price is in a large daily supply zone. This Might cause price action to be more rangebound or less conviction in the direction of travel. Plus no inducement in the momentum candle from yesterday. The path of least resistance is more likely short trades.
3.Goal: Insert my daily sole focus that I will consciously work on
A. I am going to work on my trade tracking and paying extra attention to the Strong Liquidation for a confluence.
Reminder or Aphorisms for Myself
-Be Selective, Only Trades worth writing up I will trade
A. Don't predict the price and just react to the current market condition
-Gameplan Halts
B. Max 3 Losses for the session
-Pre-session Analysis
-
Temp (How I feel)
1. I am feeling neutral for the session
2. Sizing for Session - 0.02 lots until consistently profitable
3. In My Favor - The large momentum to the upside... The market might us the built up buy side LQ to fuel a decent move to the downside once the market conditions change
0545-0630
1. Grade for trade
2. Sizing for Session = 0.02 Lots
3. In My Favor - Momentum
4. Currently No POIs Of Value ... Sit on my hands and wait for a opportunity
0700-0800
A. Feeling 4/10 neutral
B. Size for trade 0.02 lots
C. Placed Short trade
C1. I would place this trade as a 6 out 10 due to the demand zone we are currently in from a previous session
C2. I am waiting to take profit and reduce risk at 0722:35
D. Taken out of the trade and was a valid loss. The first mitigation is usually a fake out ... could backtest this concept further to find data to support or refute this.
What I learned ?
Remember to look for opposing market structure against my trade concept
Overall Market Structure -
Daily = Bullish
2H = Bullish + premium
15m = Bearish and in a Demand Zone
Daily Report Card
1.Nov 15th 2023
2. Price is in a large daily supply zone. This Might cause price action to be more rangebound or less conviction in the direction of travel. Plus no inducement in the momentum candle from yesterday. The path of least resistance is more likely short trades.
3.Goal: Insert my daily sole focus that I will consciously work on
A. I am going to work on my trade tracking and paying extra attention to the Strong Liquidation for a confluence.
Reminder or Aphorisms for Myself
-Be Selective, Only Trades worth writing up I will trade
A. Don't predict the price and just react to the current market condition
-Gameplan Halts
B. Max 3 Losses for the session
-Pre-session Analysis
-
Temp (How I feel)
1. I am feeling neutral for the session
2. Sizing for Session - 0.02 lots until consistently profitable
3. In My Favor - The large momentum to the upside... The market might us the built up buy side LQ to fuel a decent move to the downside once the market conditions change
0545-0630
1. Grade for trade
2. Sizing for Session = 0.02 Lots
3. In My Favor - Momentum
4. Currently No POIs Of Value ... Sit on my hands and wait for a opportunity
0700-0800
A. Feeling 4/10 neutral
B. Size for trade 0.02 lots
C. Placed Short trade
C1. I would place this trade as a 6 out 10 due to the demand zone we are currently in from a previous session
C2. I am waiting to take profit and reduce risk at 0722:35
D. Taken out of the trade and was a valid loss. The first mitigation is usually a fake out ... could backtest this concept further to find data to support or refute this.
What I learned ?
Remember to look for opposing market structure against my trade concept