Hello Tweeps, just a quick review of todays trades on my side and why I took them. In full disclosure I'm leaving out about 70% of the trades I took today because I definitely over traded today especially in the early going, and would take 4 pages to go through them all, so I just picked out my 4 best trades for the day. (which really should have been my only 4)
Side Note: Red horizontal line is opening price, yellow horizontal line is IB's, purple horizontal line is ydays high, shorts r red type, longs r green type
Trade 1: Long 99.45 (10:09)
My Thinking: We had just had some range extension to the upside, it was a pretty poor high, and we were holding above the open.
Result: 2 scales, best out was IB high, closed it when we extended range & dropped back into IB
(Yes I could, and should have flipped and got short when we dropped back into IB, but this play presented itself several times as we will see)
Trade 2: Long 99.50 (10:59)
My Thinking: Basically same ideas as trade 1, and I flipped a couples times before this trade when we broke under the open, then back above, then back under.....but at this point I asked myself those 3 key questions, what have done, what are we trying to do, how well are we doing it, and I couldnt really answer long on that last question (mainly because of a very, very, poor high on the last range extension and we kept dropping back into the IB), so my internal bullish/bearish was starting to change even though my best trades where to the long side at this point.
Result: Same as trade 1 (And yes, I should have flipped it again when we dropped back into the IB)
Trade 3 Short 99.88 (11:16)
My Thinking: We finally get a lil selling tail, aka not a poor high, and dropped straight back into the IB. This was the same play we hit yesterday re: trade 5 (except it was a long), if its gonna go, it shouldn't keep dropping back into the IB.
Result: Great trade, closed out the runners at 98.15 because we couldnt stay out of ydays range for 173 ticks
Trade 4 Long 98.17 (12:35)
My Thinking: The same reason I covered the short from trade 3, and was the entire post of Blog post 2; couldnt hold ydays range (failed breakout) so theres only 1 thing to look for, return to that days value. I tweeted about this 1 as it was happening, basically saying you have to look long unless we drop back below 98.13 (which it held to the tick on the re-test a couple min later)
Result: I actually ended up adding to this trade when we held 98.13 on the re-test, so this was actually my best trade even though it was for less tick. Closed it out at 99.45 which was the VPOC for the day for 128 ticks, this was about as textbook as it gets.
Here is the chart:

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