230713 8SMA exit, add H1 S&R

P/L: +1.2% / £27.75 CAP£2662.15

Trades
A. HSL (+2) outside of session.
B.  Potential New REV Trade (+2) involving Convergence of S/R. In this case 252EMA + H1 S. Trigger must touch both S/R factors,  Conf must close with 8SMA.
1. HM (-0.5),  Exit close ag 8SMA showed little strength in move. Add to Guide.
2. LSH (-0.3),  Exit close against 8SMA,  good trade.
3. LSH (+2),  Exit TPO, Good Trade.

Notes:
Trade A. although an example of a trade working outside of my trading sessions this is probably quiet unrealistic as I would have had to be trading by 0630.
Trade B.  In two minds about this as I don't want to confuse my guide. I hinsight It's easy to say that it would have been easy to take this move. Either way it pointed out that my chart is lacking H1 S&R,  which considering I'm trading the M5 TF is an indiscretion. Add to Guide.
Trade 1.  Interesting observation on an exit,  "close against 8SMA" = Exit. I used to use this in the past, not convinced I completely understood it. My theory now is that "if price can close back against the 8, the trade doesn't really have much strength/conviction in it". Add to guide.
Trade 2.  LSH benefited from the 8SMA exit.

Range/S/R: Although tempting to go for exact numbers.  you must remeber that they are infact areas. This is why trading BO/BD can be so difficult and why trading PB/RL can be more fruitful , especially if used with a convergence of S/R factors (Polarity changes can be particualy helpful for identifying these areas).
(H1) Range =  area of S/R that matches consolidations and polarity changes in price. Add to Guide.

Summary:  Personally a good day following strategy and money management. Strategy starting to turn a profit (for the time being).  But feel like I'm leaving some profit on the table due to trading in sessions.