I bought that nice SP500 dip yesterday, but that was nothing special - right place right time kind of trade...
Then I spotted this opportunity - initiatilly thought it could be a trend day. NT8 profile started with IB breakout and looked nice, tall and thin with some LVAs and value shifting higher.
Now I can see that TW profile also suggests some positions initiated on the very top during an overnight session (both longs and shots), and weak hands (long) being kicked out before european session started. This shake off retested LVA from previous day. First candle of cash hours fired up from IB.
One of my goals in trading is to synchronize better with the market - if my trading would be boxing I would probably punch in an empty space while smashing my head against my opponents hand more often than acceptable :))) I will get back to this later now lets see the first trade: I expected this to be quick and market to move faster upwards. It did but failed. I didnt like it, closed with very light profit and wanted to wait lower... impatiently!
So I entered on second pullback with expectation of trend day - hence the aggressive entry. I had mental stop only - candle would need to fill the gap / close below top of IB. Target - the height of previous upward move aka completion of ABCD pattern. Time constraint = next trend move expected very soon.
When I saw more of the responsive type of action I reevaluated the prediction and expected this to be a P shaped type of the day. The shorts initiated on the top during overnight sessions were liquidated on yesterdays high breakou and it took us higher with a gap. Consolidation between the top of the day and a gap area was expected. So I closed this position near the top. It was the second good trade (2 ok, 1 be) in a day so I decided to just observe afterwards. There were more possible trades (green arrows) between expected brackets. It was only 23 pips wide area - when i count spread and not-so-great timing I should be quite satisfied. :)
Then I spotted this opportunity - initiatilly thought it could be a trend day. NT8 profile started with IB breakout and looked nice, tall and thin with some LVAs and value shifting higher.
Now I can see that TW profile also suggests some positions initiated on the very top during an overnight session (both longs and shots), and weak hands (long) being kicked out before european session started. This shake off retested LVA from previous day. First candle of cash hours fired up from IB.
One of my goals in trading is to synchronize better with the market - if my trading would be boxing I would probably punch in an empty space while smashing my head against my opponents hand more often than acceptable :))) I will get back to this later now lets see the first trade: I expected this to be quick and market to move faster upwards. It did but failed. I didnt like it, closed with very light profit and wanted to wait lower... impatiently!
So I entered on second pullback with expectation of trend day - hence the aggressive entry. I had mental stop only - candle would need to fill the gap / close below top of IB. Target - the height of previous upward move aka completion of ABCD pattern. Time constraint = next trend move expected very soon.
When I saw more of the responsive type of action I reevaluated the prediction and expected this to be a P shaped type of the day. The shorts initiated on the top during overnight sessions were liquidated on yesterdays high breakou and it took us higher with a gap. Consolidation between the top of the day and a gap area was expected. So I closed this position near the top. It was the second good trade (2 ok, 1 be) in a day so I decided to just observe afterwards. There were more possible trades (green arrows) between expected brackets. It was only 23 pips wide area - when i count spread and not-so-great timing I should be quite satisfied. :)