- notes from my trading journal 22/04: - open with a sharp gap down, below VA, range, with a strong bearish sentiment from O/N session, based on some news about Greece. However, ES opened below 1195.50 which is an important S/R area, determined by a LVN, price start to auction down, set the IBL as the LOD. After the IB was set price tried to auction down but failed and found S@1193.50, which on my 10 days volume composite profile is the VPOC, as well as today's VPOC, this level offered the support for the big move up which followed. Initiative buyers stepped in, broke the IBH and drove price into previous VA and above. - in hindsight pretty easy day. I would say it really was an easy day, not for me tho, i lost -2.00 points in 2 trades, and that just because i wasn't able to accept the obvious. If you take a look at the 5 min chart with the levels on it you can see clearly that a break from IB was due, price went to VAL, paused, made it's way up to POC, paused & retraced a bit, went up to VAH, paused ... All these setups are part of my trading plan, but i took none of them.
- for some reason this week have been a loosing one for me, i noticed some imbalance in my thought process, inconsistency in discipline, in executing my plan, in patience. I knew something is wrong, i did nothing, i kept trading and i lost. The most important thing now is to learn from these mistakes and not to repeat them. I'll work over the weekend at refining my trading plan and from next week i'll focus just on consistency.
- key areas/levels from the structure:
- 1186.25-1188.00 buying tail, area defended by buyers, this is also a HVN 1186.25-1191.00, so i'm expecting this area to work as a strong S until turns in R
- 1193.50=VPOC, 1193.75=POC, area of S
- 1195.50-1197.75 buying singles (initiating buyers with strong conviction), also the area coincide with LVN (rejection area), i expect this area to be defended by buyers, at least at first touch, acting as S
- 1202.25-1203.75 will be my initial area of R, also a HVN
- R1@1210.50 HOY
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