R+1.5 Short EJ at Supply

Intro: Had some trouble with my directional bias on all pairs at the start of the day. This was predominantly because the H4 pivot highs and lows were not that clear/strong and because M30 price action was quite congested. Here's a video of my anguish...

Plan: Ultimately decided that the EJ was a better short as it had last touched an area of longterm/H4 supply and so shorting into longterm/H4 demand was the action I wished to take.  I labeled an M30 level of supply and shorted it once it was reached.

Summary: Had issues with profit areas, strictly speaking I should have shorted into H4 demand but ended up taking profit at the bottom of M30 congestion, where there might have been H4 demand but was unclear as the pivot low it would have been based at was imperfect (as mentioned above). Turns out it was demand, perhaps the more telling thing is not how perfect the pivot high or low is but the strength/speed of the move off the hi or low.

EJ Trade:

R+3.8 EJ M30 Short (R+2) and EU short (R+1)

Really liked this trade (EJ) but almost didn't get it... I was quite baffled by M30 direction this morning, being bang in the middle of H4 S&D and was in the process of getting some thoughts out (prior post) that were very constipated.

Once I got clear in my mind that I wanted to trade away from the H4 S/D level that had most recently been touched (and into the next level below or above it) I knew how to act... On realizing this I saw a late entry to what Brian might have called "the trade of the day".  Having watched a video of his last night in which he had the right idea but couldn't get filled on limit orders he surmised that what he learnt was that "if you want in,  click in". This all this converged in my mind and I hit sell and got the move so thank you Brian for that video. If you don't know Brian's blog it's worth a look, he's a CL trader....http://www.thetradingquest.com/2015/01/scratch-day.html

EJ Trade: The best entry would have been shorting at the M30 supply level rather than the LOHP, but beggars can't be choosers!

EU Trade: just like EJ trade.

R+0.2 GU short a la Seiden

Intro: Had to go out so didn't have time to wait for a LOHP so just had a go like Seiden would. Fucked it because I trailed too quick on a bear trend bar rather than on each pivot high (just like Brian was saying in his vid yesterday)...

Lesson: don't trail too quick

Trade

R+1.0 Short EJ M30

Plan: H4 trend was down so labeled H4 supply level just overhead. When price reached to this level,  drilled down to M30 and waited for a LOPH candle setup which I entered short on. Trailed stop on each bear trend bar down. Aiming to short into H4 demand  but when price went static on a section of M30 demand for 2 bars and printed a hammer I exited manually for a R+1 discretionary exit.

NB: additional reason for exit was due to Paul and I talking about scraping a trade on a time stop if it fails to do what it was meant to, because when intraday we're trading momentum; No movement = no momentum.  Part of me felt that no momentum/2.5 bars of no movement at a M30 level of demand showed lack of momentum but not sure I was correct using this method on an exit rather than entry.
... Looks like I might have been!

Trade

R+0.1: One Loss , One Win

Both of these trades were taken on the M30 chart. However the major diffrence was that the loss(1) was based off a supply level originating on the same time frame (M30). While the win (2) was based from a supply level originating from a higher time frame (H4).
EU Trades

R+1.4 M5 Long off M30 Trend and Demand

Long-term: Long term (H4) trend is down and I'm looking to short at the next level of H4 supply on an M30 chart.
Short-term: As mentioned noticed price is currently retracing to the next level of H4 supply. The M30 chart is trending up and had pulled back to a level of (M30) demand so I drilled down to the M5 chart for an entry with the M30 trend to take advantage of the long-term trend retracement.

EJ Long

Basic Method Idea: Trade with the higher time frame trend and supply/demand levels but enter on a lower timeframe. IE M30 trend down = label M30 supply levels then drill down to the M5 for shorts at those levels.  IE2 H4 trend up = label H4 demand levels then drill down to the M30 for longs at those levels.