Goals for today:
- Trade according to my Plan with good feelings about the outcome.
- Earn at least 40 FDAX Points by entering and exiting short and/or long trades on 1 min chart in the Decision Point Areas from the 3 Min Chart.
- Earn at least 100 Crude Oil Points by entering and exiting short and/or long trades on a 1 Min Chart in the Decision Point Areas from the 5 Min Chart.
- Don't make anymore trades once the profits are cashed in.
Determine trend, entry and exit points, times where I have to make a decision and trade my plan with a live account without hesitation.
Tuesdays Theme for the Stock Market:
Double top then short or Double bottom then long
Double top then short or Double bottom then long
5 FDAX Trades::
- 3 am long
- after 4.10 trendline break then short till 7.30
- 2nd short 8.10 till 8.30
- after 8.30 long
- 2n long after 9.50
- after 10.30 short
- 3 am long
Profit 17 Points MTP Manual DP System FDAX
Profit 01 Points MTP Manual DP System CL
Profit 01 Points MTP Manual DP System CL
Today like yesterday we had a pretty choppy sideways slowly downtrending market, this patterns seams common for the options expiration week, lets hope the reversal on wednesday will bring faster trending moves back. Anyway the trend was clear after the 3.30 breakdown however the only entry was at at 4.12 a trendline break that i missed, first target in a sideways market the double was also clear with a high volume large range bar confirming the end of the down move.
Conclusion: Since all tuesdays seam to be trending days but you dont know when to enter there is like yesterday on monday a check:
- Can the market trade higher after the 3 am long move (if no we will most likely get a downtrend)
- Enter on a trendline break this will stop you in a short position in the time between 3.15 and 6 am.
- Exit in a DP area, but on slow trending markets know that the market will be bearish till 7.30 am.
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