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First range is broken. Look for pullback. Wait a minute there is a long here.

Stop out. 0 pt

Bought at 1194.25. Stop at 1193.25 This is a low probability probe trade.

There is a short at 1197.75... I might have been too perfect.

They are hitting support level twice but I have no trade because other technical works did not line up.

Bought at 1195.25 for 2 pt profit. +1 pt

Man I could get stop out if they go for the whole number again. Being a reversal trader sometimes mean sitting thru the crap.

The first trade was a bad trade. I don't know why I took it. Things did not line up. My brain is a little slow today. P.S. It was lining up then it expired but I did not realize that.

Short at 1197.25. Stop at 1198.50 I was a little slow. This is the second entry when it hits "new" resistance.

Stop out. -1 pt

Sold at 1195.25. Stop at 1196.25

I will keep this in mind. I am still playing with this thing (not trading the full size). It is a problem when the market trends. I have thought about stopping the day after losing certain amount of money. Things can get worse before getting better. The game plan today is just like...

Hi FT71, You are right... some of the middle trades (middle of the daily range) are low probability probe trades. Because in my works, when the price action breaks the first range (for the lack of better words), they tend to trend but sometimes they do pullback to gain more strength (squeeze...

I agree that my trading need to be improved quickly.

But have you noticed most of my entries are within one tick to the relative low and high. There is usually at least a pause even the trades that did not work out.

Never said I am good but this methodology has been very good for me. Fading trend is dangerous when done blindly but I don't always fade it only 80% of the time. In fact I try to get into the pullback a couple of times today but nothing great shows up.

It is not a mechanical setup - can't backtest any component of it but watch different parts of it for over a year. I wish I can backtest it. I would not recommend anyone else trading this.

Don't bother to backward engineer this stuff because there is a bit of discretion involved. I will say the general concepts of Elliott waves help sometimes but I never count waves or using Fib. As you can see I am really a lousy trader but if you notice, my entry is pretty good which allow me...

I don't think I am going to take any more trade today. I don't trade after 3:30 pm. It is bascially a scratch day for me -.25 pt.

Oops, I might have missed a short.