P/L: -0.9% / -£21.26 CAP £2476.10
Trades
A. Price needs to PB to 252EMA (H1 21EMA)
1. HSL @ MN R (-0.2), exit 8SMA. Q: prior RL had FTMNL, is this a sign of weakness? NO
2. HSL (+0.2), exit 8SMA. NB got v near TPO on 4 consecutive lows might have been a good idea to get out near rather than on TPO, as highly likely to reverse. count consecutive sessions near TPO Add to Guide
B. Price nearly PB to 252EMA, however on H1, price does touch 21EMA (which is what the 252EMA represents) Q which is valid? H1 21EMA check H1 chart when price is near 252EMA Add to Guide
3. REV to 252 (-0.6), exit 8SMA. Annoyingly this trade eventually worked out which made me question whether I should use the same early exit strategies on my "REV" trades (which are technically BO/BD, so PB/RL are likely) as I do on my PB/RL trades. And instead only adopt early exit rules once price has closed in profit? A: Having checked all my prior REV trades I can confirm that despite being rare, universally I can expect a PB/RL after entry and on all REV trades adopting "early exit's" only after the trade had closed abv/blw entry price made no difference to the result or improved it! Only adopt 8SMA exit on REV trades once price has closed in profit. Add to Guide
4. MN SS REV to 252 (-0.3). Okay this was a made up trade but it just seemed to make sense as it's an amalgamation of 2 setups. didn't work wanted to try it, it happens Discretionary.
C. LSH, untradeable because 1. it BO MN R and 2. the RRR was less than 1:1 before meeting D1 R.
Summary: Enjoyed today, always interesting when price is bunched up next to so much major S&R. Strategy performed well again, keeping me on track. I traded well until I discretionary traded Trade 4 ( I had a hard-on for the 252EMA and was going to take anything that would get me to it), not too upset you've got to try these occasionally or else you go mad wondering "what if". I always think" If you're going lose - learn" and I did.
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