After a week-long break in Jamaica, it's great to be back in the trading game. Taking time off to reset and enjoy life is essential to stay focused and sharp. During my time away, I didn't take any significant trades, but I logged days on evaluations and gathered lot size data for Purple Trading indices.
Coming back, I feel like my vision has sharpened, and the market is still churning and printing setups. Today, there were a few textbook opportunities that I took advantage of. While I am grateful for the profits, I feel like I could have done better and taken full advantage of my setups.
One thing that I noticed is that I followed my plans to do more scalping to lock in profits. I think it's time to leverage what I do best and not be greedy. Following my instincts and sticking to my trading strategies has always been my strongest asset. It's essential to remember that trading is a long game, and it's more about consistency than trying to hit a home run on every trade.
Overall, I am excited to be back on the charts and eager to see what the market will bring. It's essential to stay disciplined, take only high-quality setups, and focus on executing the strategies flawlessly. With the market still churning, it's time to take full advantage of the opportunities and let the profits take care of themselves.
US30
This was a textbook setup according to my trade parameters
3 Days/ Levels of Rise into a Peak Formation
I did not execute as well as I would have liked to due to a bit of hesitation after re-entering the market from a break
US30 gave us our 1st Red Day Signal on Monday
1st Red Day is defined as a day that goes Long, traps volume (Peak Formation) outside the previous days high, and closes below the open
In this scenario I pull fibs across the Day Range High to Low and watch for reactions at fib levels
On Day 2 it is common to see an aggressive move down from 23.6
Price stop-hunted back into the Peak Formation during London Open
At NY Equity Open price retested Mondays Low before falling back to the Initial Balance (Mon-Tue H/L) High of last week.
I scalped positions down on mulitple accounts, being careful to secure profits as they were given
Ideally this would be a day where I would scale in as price falls
NAS100
Similar setup to US30 but a much safer play due to the deeper retracement
This was a little more difficult to spot because the Peak Formation was obvious until price broke Mondays Low
Took some scalps down but was hesitant to hold because this was a breakout entry
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