jan 13 - review

- I was following my plan, bu monitoring the pullback low@1279.00. My plan was to go long there if it holds. It held, and the presence of the responsive buyers was evident

- on my execution chart you can see the candle at the low engulfing the down candle, OF turning to buy; then signs of continuation were present through one time-framing higher in z, A, B & C periods. I went long at the close of the bar, with stop strategically below (even if given by my trade location, anyway i wouldn't wait until my stop would have been hit, because that means that one time-framing higher was stopping and i should have exited 1278.00)

- i tried to use a bigger first scale +2.50 points, I deviated from my original plan and i really felt the pressure of doing that, it wasn't relaxed at all.

- as a rule from now on i'll use the first scale at +2.00 and only if there is strong conviction off the open i'll use strategic levels for the first scale, bigger than +2.00 points

- my first scale was hit and then i exited the 2nd contract based on the price action deteriorating at IBH. Also to note that the tempo going higher in this move was slow, thing that should alert me about smaller targets (i should have chose IBH@1282.75 as the exit). The trade was profitable for +5.50 points.

- one time-framing higher stopped in D period, thing that should alert me that change has occurred or is about to occur. Based on this the MP chart offered an entry setup@1281.50; also validated by the range bars (rejection at IBH; red candle engulfing the up one, OF selling, price back below O). Confidence in the trade would be provided by continuation to downside under the form of one time - lower.

- RE to the downside occurred, and again the same setup at the lows (green bar engulfing red bar with OF turning to buy) occurred offering the possibility for a long

- for now i will be focusing on determining the context and trading in the first part of the day. Second setup and important piece of information I will add to my arsenal is monitoring change exhibited through one time-framing stopping, as a trade location and enter trades only if validated by OF selling and range bars setups!!!

- as for tomorrow:

- we had an inside day (a form of balance);

- bottom of the trading range@1276.25 held as S (it is an important level to monitor for the existing gap) w

- we have a poor high at 1283.00

- i will monitor if the move down was just an intra-day inventory adjustment or a sign of weakening

- BA tactics applies

- further info provided by ON action