Trade plan and Price action review: (Price action) ES opened above value and sellers were active pushing ES back into Fridays value highs where buyers were active and pushed ES back up into the highs of the day for a full rotation. Price action today was painfully slow and choppy. It was certainly not a good trading environment at least for me. If anyone else saw any opps please let me know where i was wrong at. There was a good long at support at Friday highs and i was at lunch when this happened so no go for me.
(Trade plan) The news releases didn't give any real action today and the big gap up didn't give any good opps as no volatility came from the move higher. I was expecting responsive sellers to be active and they were but they took their sweet ass time doing it. My focus was on the long side today at my support areas and the 1333-1334.50 area was good for a long. I wasn't expecting the market to make it down to the globex lows at 1330, we bounced at the 1333 level. So over all my plan was in line with what took place in the market today.
Trades review: (Hypothetical) Good long opp at 1333.00-1334.50 area. And another good long to join the rotation back up at 1337 double bottom at support.
(Actual)
1st trade: I had one short today at 50% retrace of move down. This was counter to the context. So i wasn't gonna hold it for long in the chop. i was looking for a quick reaction of at least a few points and then was looking to get long at the 50% retrace of the little move higher from the lows. The market only pulled back to the 38% retrace and honestly i couldn't stand the chopping so i went out side. the trade was a BE scratch.
Conclusion of the day and thoughts going forward: So the market unfolded the way i expected today and i personally didn't see anything worth trading other then the long at support and the PB at 1337. I feel like i did well following my plan and i didn't get to anxious while watching the market chop around. If i were at my computer at lunch time im sure i would have taken the long at 1333s.
Grades:
Following my plans: A
Following my rules: A
Trade execution: C should trade with the context
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