SP500: LET'S DO IT! for CME:SP1! by moorekapital

CONTEXT
Main Daily TL BO. I believe Trading Range(TR) next.

KEY ZONES

2133.00-2085.50
1860.00-1800.00
several below

MooreKapital

Building Stable Wealth In An Extremely Patient Style

PAMM Link for investments to be announced soon.

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MONTHLY

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WEEKLY

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Had a great entry, 2days ago, and so decided to publish ;)
Click on Link for how I initially did it on Demo( Remember to click on full screen above to see clearly.

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Covered added on short last night for 1% profit. Just covered original trade for 40points =4.5% Growth.
PAMM performance stands @ 124% gain so far.

PAMM Link for Investments to be announced soon. Working on website(possibly), and some social trading platforms, for trade copy services.

SPECIAL THANKS to the following great minds, and generous hearts:
(Not in any particular order)

Tim West
IvanLarbrie
Tom_Killick
Jangseohee
Anilmangal

etc

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Reversed trade.
I'm in the long @ 2041.6 stop @ 2024.8
Entry was made on 1H chart

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stopped out on this last one ;)

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POSTMORTEM RESULTS:

Basically, I broke my own rules. I do not trade on lower time frames, other than 4H, Daily, and weekly. However, Last Friday, I picked a trade, based on lower prices rejection(LPR) bar spotted on the 1H chart.. (A valid signal, though 1H chart ;) )

On the Daily chart, price entered into a POTENTIAL BUY ZONE, and should I had used the correct stop(RED HORIZONTAL LINE = 2009.60), I would probably be in the trade and holding a loss. But that wouldn't matter, cos the invalidation point wasn't yet reached.

I'm looking back today, and I feel tis unforgivable.
This note is being made , as a reminder to myself of this terrible mistake of mine, and not to repeat it again in future, hopefully.

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Price entered into a POTENTIAL BUY ZONE. Invalidation point=RED HORIZONTAL LINE = 2009.60 OR 2000.00 ROUND NUMBER, still in place. Below that, I may short.

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So we bounced off the 2000.00 ROUND NUMBER zone!
I reloaded my long, and stop moved to BE. (SEE IMAGE- Kindly click to enlarge)

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Reloaded shorts @ 2066. Initial stop @ 2100.00

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Was busy with trades and trades management = forgot to update TV charts.
I exited short for 2%. In fact, I had it going nice, but hesitated to pick profit, hence an erstwhile 4% became 2% This is how it was on my mt4 chart.

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For Now, I feel SP is a range bound market, due to trend both sides.

This implies, I'll be looking for short trades next

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" Nice going" , Tim, He'll say ;)

My demo mimics my live (Click to enlarge)

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