boru's price action journal

Db no I did not take the long at 9:48, I was taking some phone calls this morning that were unavoidable. Which is a lesson on how important an uninterrupted work area is.

The last week for the most part has been much better, not for any new information but how I am approaching the open. I'm grateful for the post on keeping a journal I knew I was sliding into a place I didn't want to be , and that got my attention. I was starting to go through the motions and was starting to feel as though I had plateaued I had hoped having a journal would help me become a successful trader and if someone else gained anything of value then good for them.

Having heard Db say how important it is to get positioned at or near the open I have been trying to do that, with the results of some very good trades and a number of scratches. This is part of the reason I wanted to do Niko's scratch practice. I also thought it would help me avoid the "hope" syndrome.
 
The 60 min chart shows price trending down, if the TC I drew on the 60 min is accurate we are approaching the mean and should be aware of possible change in direction, even if the TC is wrong the trend is down using SLA protocol as I understand it.

If the TC on the daily is still in play , price is OB and a correction should be in the near future.

Looking at the weekly chart price is above the mean and has made a LL if only marginally, this could be a resumption of the trend or a RET in the early stages of a decline.
 
Boru. On this day 1000 years ago, 23rd April 1014, one of the old Irish kings Brian Boru was killed after a battle with the Vikings. Hopefully you have better luck than him today.
 
4-24 prep Since price has exceeded the LSH and the degree of OB relative to 4/1 -4/3, On the daily chart.I am assuming the larger channel is losing it effectiveness as traders look for value elsewhere. As of this morning price is in an uptrend.

One possible scenario is the 60 min chart where the UL combines with the horizontal R at 3670, this is only 60 points away at this time. To the downside 3567 is possible
 
Back again, sorry for not posting but I needed to step back and digest some of the changes I have been going through, for today it appears price has been rejected at the upper channel line, in addition we have SLA sells on both the 4 hr and the 60 min charts.

If price continues to sell off the mean is 3480 + - and upside R is 3600 + -, good trading
 
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