Daily Score: +1.00

Batting Average: 100.00%
Full Stop %: 00.00%
EpT: .33
 
 
Another quick 3 & out today, but the good kind of 3 & out :) I’ve found that if I can be even more selective in the scalps I take, I can go for 3-4 ticks per trade instead of 2 & get the job done 1 trade sooner. Not sure if it’ll pay off in the long run or not as going for the extra tick or 2 does increase risk, but for the past couple of days at least, I think I’ve picked the right spots.

This actually wasn’t a trade that I took today as I had already hit my daily goal and stopped trading when it occured. But I noticed it when I was reviewing my trades this afternoon and boy would it have been a nice trend setup.

This is a 5-minute chart of the ER2. There was a 10:00 Economic Announcement that apparently jolted the markets down for a quick bit. But what was interesting was the correction from that snap downward. The markets tried to rally, but look at the ever-decreasing volume as they tried.

Then at 10:25 AM there is another WRB- on increasing volume that erased the low volume gains of the prior 3 bars. Entering on a breakdown of this WRB- at 10:30 around 700.00 and exiting either via High of Low Bar strategy or 2 consecutive higher TRIX readings around 698.00 would have yielded a nice quick 2 point profit.

I’ll be taking the day off from trading tomorrow but will be back here posting on Monday, so have a nice weekend everyone!