PL: R+0.1 £+3.50
Summary: Dug myself a hole but managed to climb out of it. I followed my prep guide but fear it has too great a bias on Supply and Demand lines rather than S&R lines which made me slow to react to moves. Waiting for a DL to break then test the last rally high takes a long time as opposed to shorting a failure at R. Not that unhappy with the trades I took, more disappointment with missing (5). Trade 3 was just plain wrong, but at least I realised this and exited early. 4 was a good entry but in-trade I managed poorly (late) exiting on a TSL rather than PA. 7 was a great trade. 8 I exited early as my session was coming to an end I wanted to end BE, turned out to be the best thing to do but the correct exit would have been 5 bars later. Patience is improving but still needs work, just like my Prep and Discipline.
Green arrows = Entries, Red arrows = Exits
Series of LHs and fanned SLs = initial bias short
1. (Missed) Acute TLB. bias stays Short but prepared for reversal at or before prior PBL.
2. (Missed) HL long after TLB = Long. (out of session hours and missed SLB at 1).
NB: Bias changes to long as price breaks TL and makes HL = only trade long and hold through PBs
3. Short off prior RLHs, exited early on realization of missing TLB at (1)! Poor Prep, R-0.5
4. Long off TL,and PB to prior RLH. Exit TSL (should have been close at tick below prior low). Good Prep, Good Patience, Poor Discipline R-0.4
5. Possible SAR (stop and reverse a la Level Headed Trading?)
6. TLB bias stays long but prepared for reversal at or before prior RLH.
7. Long off rejection of Friday range lows. Prep, patience, discipline good R-0.1
8. Short off rejection at prior PBLs, Prep, patience good. discipline poor R-0.1R+1.2
Summary: Dug myself a hole but managed to climb out of it. I followed my prep guide but fear it has too great a bias on Supply and Demand lines rather than S&R lines which made me slow to react to moves. Waiting for a DL to break then test the last rally high takes a long time as opposed to shorting a failure at R. Not that unhappy with the trades I took, more disappointment with missing (5). Trade 3 was just plain wrong, but at least I realised this and exited early. 4 was a good entry but in-trade I managed poorly (late) exiting on a TSL rather than PA. 7 was a great trade. 8 I exited early as my session was coming to an end I wanted to end BE, turned out to be the best thing to do but the correct exit would have been 5 bars later. Patience is improving but still needs work, just like my Prep and Discipline.
Green arrows = Entries, Red arrows = Exits
Series of LHs and fanned SLs = initial bias short
1. (Missed) Acute TLB. bias stays Short but prepared for reversal at or before prior PBL.
2. (Missed) HL long after TLB = Long. (out of session hours and missed SLB at 1).
NB: Bias changes to long as price breaks TL and makes HL = only trade long and hold through PBs
3. Short off prior RLHs, exited early on realization of missing TLB at (1)! Poor Prep, R-0.5
4. Long off TL,and PB to prior RLH. Exit TSL (should have been close at tick below prior low). Good Prep, Good Patience, Poor Discipline R-0.4
5. Possible SAR (stop and reverse a la Level Headed Trading?)
6. TLB bias stays long but prepared for reversal at or before prior RLH.
7. Long off rejection of Friday range lows. Prep, patience, discipline good R-0.1
8. Short off rejection at prior PBLs, Prep, patience good. discipline poor R-0.1R+1.2
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