End of Day Review
+3.72R
2 trades taken. 0 break even, 0 losers, 2 winners.
A good day’s trading. The early morning Bullish move, ending at 08:45 set the trend for the day, and gave excellent role-reversal structure for the two trades taken.
I’m pleased with my trade managementwith both trades, cutting the trade short on the first, and raising the profit target on the second to make the most out of each move. A better entry for the first trade could have seen another ~1R in profits, however that is being picky and the speed of price movement doesn’t always allow for such accurate entry.
A good move on the M15 timeframe, with clear Role-Reversal structure confluent with the GZ.
I took the trade on the M1 timeframe, using the same keyzone structure as I had used for my trade earlier today. The combination of this level, along with the 15min ema and GZ was too good an opportunity to pass up! I placed my profit target below the Inner-Fib for the higher-timeframe move, looking for +2.5R, also within another keyzone drawn from previous price action. As price reached the 1min and 5min moving averages, I moved my Stop Loss to break even as a precaution; I was expecting price to stall for a time at this level, but was confident it would break through and at least reach the Inner-Fib 50%.
I would have liked a better entry, with the 2R target at the top of the keyzone.
I watched patiently as the Role-Reversal level held, and took profits as price reached my target. I was tempted to allow my time for price to push above the keyzone boundary, as the 2R profit target was sitting within the Inner-Fib GZ, however I felt the better thing to do was to take profits. At the moment this seems to have been the right choice, as price is back at the bottom of the keyzone (13:35).