jan 19 - review

- i had my first losing day since i started sim trading. Also i skipped my morning training today and woke up late (9.00 am). All in all i wasn't prepared, mentally in the first place, for a trading day, as i outlined in my plan. Possible feelings of guilt made me take bad decisions at critical points during the trading session.

- first thing: i will never say pass to my daily routine, as it is very important inn preparing me mentally and physically for the session (i am entering in competing mode, feeling confident, my mind is clearer and i am ready for action). If, for whatever reason, i will skip my routine i will not trade at all that day.

- as i mentioned in my prep, i was looking to apply the spike rules, monitoring for price acceptance below or above the spike, with the bottom of it @1290.75 acting as S/R

- ON activity was within the spike, however during the premarket price moved below S which turned into R

- selling pressure was on the O

- CCI was showing momentum to the downside

- price found rejection from 1290.75, strong R

- all this reasons should made me to look just for short opportunities (for some stupid reason i was biased long). The spike tactics, with price trading below it, was the best trading scenario today.

- you can see at 1,2,3 & 4 on the range chart, all of them were strong short signals:

a) - price was below spike

b) - price was below O

c) - price was below 33 EMA

d) - OF selling

e) - CCI was showing downside momentum

f) - red candles engulfing green ones, in downtrend and at strategic locations (bottom of the spike & VPOC; mid IB, IBL, MVPOC)

- in hindsight was an easy day, playing just the short side, from the open as the S was broken, but being so biased, i couldn't focus and lost 6 points in 2 trades, going long when i had no reason to do so.

- price got rejected from 1275.00, LVN, and missed to close the gap by a tick

- BA has a nice excess to the upside from 1295.00 to 1292.00

- i'll be aware of the extremes, as well as of the middle of it

- we had a shy rally high to 1280.00; i'll be monitoring tomorrow for price acceptance/rejection at this level; acceptance above change is occurring, acceptance below keeps the pressure to the downside

- we also had a poor low @1275.00 (suggesting that the rejection from LVN wasn't rejected right away, and was more of a softening balloon; and i'll expect for the price to just slice through it if pressure will be there, or at the next probe)

- tactical targets below are NPOC@1269.50 & NPOC@1264.00, so monitoring for price getting back inside of previous BA or S holding (provided by the previous BAH and current BAL)