Plan: H4 trend was down on both the EJ and GU, labeled overhead levels of H4 supply and initiated shorts when price reached these levels on the EJ and GU....
Thoughts: Small losses all round. EJ trade was off a fairly well used level of supply so in my opinion had less chance of working as there was likely not that greater a supply /demand imbalance there any longer.
The GU trades I were happier with as actually they originate from a previously untested supply level but we can see momentum never stepped in and price shot up to the next level. c'est la vie...
Summary: Not remotely bothered by any of these trades. I objectively identified places where I thought there would be a supply/demand imbalance (edge) and waited for price to reach them before trading. Price moved against me which has only further heightened my interest in getting short tomorrow at higher levels where there will be an even greater supply/demand imbalance.
NB: quite wanted to move my stop to BE on all these trades, but resisted the urge.... kind of wish i hadn't but kind of know I shouldn't ha.
Thoughts: Small losses all round. EJ trade was off a fairly well used level of supply so in my opinion had less chance of working as there was likely not that greater a supply /demand imbalance there any longer.
The GU trades I were happier with as actually they originate from a previously untested supply level but we can see momentum never stepped in and price shot up to the next level. c'est la vie...
Summary: Not remotely bothered by any of these trades. I objectively identified places where I thought there would be a supply/demand imbalance (edge) and waited for price to reach them before trading. Price moved against me which has only further heightened my interest in getting short tomorrow at higher levels where there will be an even greater supply/demand imbalance.
NB: quite wanted to move my stop to BE on all these trades, but resisted the urge.... kind of wish i hadn't but kind of know I shouldn't ha.
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