190813 1. Counter Trend LSH/HSL? 2. HOLRL/LOLPB?

P/L: -0.6% / -£14.19  CAP £2461.91

Trades:
A.  Price needs to rally to 252EMA
B. LSH @ H1 S,  this is not a setup but an observation. Spotted this counter trend trade, strictly speaking couldn't have taken it because the RRR would have been less than 1:1 before meeting 252EMA but represents an example.
C.  LSH (+1.6). Did't take this trade because my rule says Don't trend trade or if a PB/RL confirmation is a BO/BD 252EMA. Which most of the time save me from losses.

D. HOLRL @ R/252 (High of Last Rally). again not a setup but an observation I wanted to note and work on.

E. HSL @ H1 R, a variation on B.

1.  LSH (-0.6),  exit 8SMA,  TBH this trade didn't feel great because 1. the trigger real body didn't get particularly near the 21EMA and 2. confirmation candle only just scrapped above the 8SMA.  But technically it was a trade.

Notes:
Trade B+E are not setups yet, but i spotted them and thought they were interesting so wanted to make a note of them. My basic premise is not to counter trend trade unless there is trend weakness. On trade B price needed to RL to 252, so getting long at a S level made sense (trade B gave me a LSH at H1 S). On trade E price had broken MN R and needed to PB to it so getting short at a R level again seemed a fairly obvious trade ( trade E gave me a HSL at H1 R).
Trade C bugged the crap out of me and made me doubt my rules because it became such a large move. But  Monthly R was not far above the entry so the max win would have been 1.6%, so I can honestly say that in reality it is not as bad it looked or felt. I Then noted that I have an exception rule on my  "REV to 252" setup that if the H1 is ranging I can trade straight through the 252 as if it wasn't there (it doesn't count as a S/R area to factor into RRR because it's weak).  I was thinking I could apply the same rule to trend trade PB/RL. But this is not the case because the PB/RL will always have 2 areas of S/R to break , 1. the weak 252EMA but also 2. HOLRL (high of last RL) / LOLPB (Low of last PB).  Where as the REV trade incorporates a break of the HOLRL /LOLPB so it only has one S/R area to break (the weak 252EMA). Basically I don't need to doubt my rules and can actually simplify the "don't rules" to...
Don’t trend trade if there’s trend weakness (no PB/RL to 252 after BO/BD, FTMNH/L ATMNL/H)

Don't trend trade if RRR is less than 1:1 GOOD!

Don't Trend trade if a PB/RL confirmation is a BO/BD 252EMA. 

Trade D again is not a setup but an observation.  Trade C was so frustrating and I want to be careful not to grasp at straws but the basic idea here is that in a trend price can bang up against a S/R level and render PB and RL  trades useless due to poor RRR. The idea here is to continue to trade with the trend, marking the highest high at a R level (up trend) or lowest low at a S level (down trend) and trading when price closes against  that  level, resulting in 2 basic setups. 1.  In an uptrend buy when price can close above  HOLRL (High of last Rally) at a R level. 2.  in a down trend sell when price can close below LOLPB (Low of last Pullback) at a S level. 

Trade 1 bugged me because I knew that it was going to fail, as both the trigger and confirmation were poor. . The good thing is I did follow my guide. But i think I may be able to put a rule in: 

Don't trend trade if both the trigger(body nearer to 21 than 8), and confirmation(clearly abv 8) suck.

Summary:  Although similar I can't say I enjoyed my day like I did last Friday, this was just frustrating. A range in the morning,  a massive untradeable explosion through monthly R and then nothing. I know I mustn't get to disheartened, August is quite,  price is banged up against Monthly R and these massive untradeable moves happen around these big numbers. This is why only wanted to record my thoughts rather than add anything to my guide. I personally performed well because I followed my guide exactly.  The strategy didn't perform that well but I feel I can give it my leniency due to the circumstances. I am happy i made the observations and I am also very happy  I realized that they are not proven and could be white elephants.