After the open right on VAL price moved to POC & set the IB. A first retest of the IBH was weak barely trading through VAL, sellers stepped in & moved price all the way down to S=1136.75 through 1139.00=NPOC, a HVN where we find acceptance before moving up into the next HVN where we traded last week.We had a move back up to 1139.00 which became a nice intra-day S, off this level buyers stepped in & drove the price back to IBH, back into the VA & to 1146.50=strong R during the last 2 sessions. During Globex session we break below down trend line from Friday, which added a bit of bearish sentiment, for the first part of the day.
I'm not gonna jump to any conclusions after today, I don't want to create any bias for my trading decisions, I'll be as much objective as I can, I need to be.
My levels played out very well, I just have to trust them a bit more. My morning preparation, including the analysis of the overnight activity and the open hour helped me a lot in executing my plan with confidence, even if I made only one trade. So I'll keep doing this until I'll get a better feel & confidence in it so I could include one trade during the first hour.
Note: - I need to stay more focused during the day, because I canceled an buy order due to not focusing enough and missed the big move up from S to R, a pretty easy & risk free trade, fact which made me nervous enough.
Ideal trades: after the IB
- S 1143.50 VAL with ultimate target strong S=1136.75
- L 1139.00 filled NPOC & intra-day S for a test of IBH
My trades:
- S 1142.50 exit 1138.25 P/L +4.25 weak move up to test the VAL & IBH, WVAH, a small pullback from an intra-day downtrend, initial target was S=1136.75 but didn't got the balls to hold it till there, even if delta volume showed weakness.
Net P/L: +4.25
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