Trade 1: +26, +36 (50% Fibs Entire Day of 9/8 in Confluence w/ MAs)
Trade 2: +13, +21 (38% Fibs LOW to NH of 9/9, Price Action confirmed Support at 1000-1003ET)
Trade 3: +08, -04 (CT Trade - Double 3 Min Bar High w/ Lower Low Lower Close following a 7 bar EURP into area of Resistance Re-Testing 30 Min MRAH)
Trade 4: -11, -23 (EDRP following MKP (Change in Trend to DOWN), Entry at High of 1421ET BEVB Volume Spike just below R1 Pivot between 24% and 38% Fibs (Mid to Upper Keltner)
TOTALS: +66 / +$330
LESSONS LEARNED:
- Follow the Rules! (Trade 3) Trade in the Direction of the Trend, Counter-Trend Trades ONLY on a Re-Test of a NH or NL. CREATE A CT TRADE CHECKLIST.
- SOMETHING TO CONSIDER: Look at Longer Time Frame (9 Min Chart) Trend to determine whether or not to take Normal Entries on an EURP and EDRP. For example, If 9 Min Chart Trend is UP, trade a 3 Min EURP as normal and disregard a 3 Min EDRP (Expect to Enter SHORT on a Larger Retracement following a 3 Min EDRP since Longer Time Frame (9 Min) is UP = Momentum favors Buying).
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