End of Day Review
The day of great setups and a lot money left on the table!
+2.15%
5 trades taken.
3 winners, 1 loser, 1 break even.
Low probability setup?
I didn’t have enough structure to support my trade. I guess it was more related to my desire to catch one. Will have to thoroughly review how and when they form in order to master these trades.
Ok, none of the above were planned like that..
On both ocassions price was moving so fast that between the time my brain decided to press “Ctrl+E” to take the trades and the time they executed, the entry level on both was different to what I planned, particularly on the -0.11R trade.
Now, execution was poor, but the idea was there: 12374.03 bulit as support, and I started to see Lower Highs forming and had the trade tool ready to go. However, two minutes before my +0.51R trade, price moved up and seemed like going above the 12392.53 grid level, so I deleted my trade tool and looked away. In no time price moved down, broke the support and I arrived a bit late. Hesitating as to whether the trade was good or a price chaser I manually closed it. I will not lie here: 2 seconds after, price broke the key 12355.53 level marked again on the grid. I rushed the second trade, but when pressing Ctrl+E, price moved wildly down and gave me that horrible looking entry that I quickly closed.
10:43
10:50
M1 Reversal FIBCON | +1.89R (5R 2 after 2 minutes)
M15 FIBCON | +0.85R (5R after 5 candles)
Great structure, great anticipation (if you see my previous screenshot on wild trades, you’ll see where my trade tool was placed, that’s almost exactly where I took the +1.89R winner), poor trade management.
Don’t get me wrong, I am proud of having been involved in those trades. Even a 10R wouldn’t have made me a millionaire at this point on my trading journey, but anticipating these set ups will definitely get me closer to it, therefore today is a great day!
