Daily Score: +.833

Batting Average: 100.00%
Full Stop %: 00.00%
EpT: .25
 
 
I’m very pleased with the way today went. I taped a note with one word on my computer where I’ll have to look at it all day and especially before I place any orders, the word is “PATIENCE”. I feel as if it really helped me stay calm and wait when the market was slow today and not to chase when I missed the initial moves. Besides, in scalping the kinds of setups I target usually come from retracements anyway…I just have to make sure I remember that fact.

I tried out a new setup today that seemed to get the job done, it is highlighted below.

I will have to follow this Shallow Retracement Scalp to see if it continues to show the follow through that it did today. One important factor is the angle of the TRIX retracements. The steeper they are the better. If I see it merely drifting higher or lower, then that fact will disqualify the setup as a SRS.

Keep an eye on how price is responding to $TICK movements. What I really liked about this one was the timing of the – $TICK Hook right concurrently with the – TRIX Hook and Trendline break.. As I’ve said over and over, the more convergence you can muster, the greater the odds of getting the result you’re looking for.