Matcha's Dow E-mini Journal
- Thread starter Matcha
- Start date
Lots of trading range price action today. Bigger picture a spike and channel type of day.
Trade 1: 8:09am, Short, L2 short set up. Got out at +7tk when see 2 attempts to go down then failed.
Trade 2: 8:44am, Long, Wedge bull flag long. Stopped at +2tk. No follow through after the 9:00 breakout bar. Too much overlapping price action and topping tails.
9:45 market sets up another nice wedge bull flag with the best bull reversal signal bar. Channel started to form. I didnât have confidence to get in again. Too slow to adjust the past 2 trades being stopped out and then get back in again. Besides, to buy near top of the tight trading range at that point is a bit risky.
Trade 3: 11:43am, Long. Price landed at the intersection of the channel line and previous range high/resistance area. L2 long set up. Micro wedge bull flag buy set up. And got to love the 11:30 bear trap⦠after entry, didnât like the retrace/topping tail on the large Breakout bar (12:00) again. So I decided to take my 20Pts profit and call it a day. I was lucky enough to get that todayâ¦+20Pts
PnL: $137.80, 3 trades, 100%winrate
Trade 1: 8:09am, Short, L2 short set up. Got out at +7tk when see 2 attempts to go down then failed.
Trade 2: 8:44am, Long, Wedge bull flag long. Stopped at +2tk. No follow through after the 9:00 breakout bar. Too much overlapping price action and topping tails.
9:45 market sets up another nice wedge bull flag with the best bull reversal signal bar. Channel started to form. I didnât have confidence to get in again. Too slow to adjust the past 2 trades being stopped out and then get back in again. Besides, to buy near top of the tight trading range at that point is a bit risky.
Trade 3: 11:43am, Long. Price landed at the intersection of the channel line and previous range high/resistance area. L2 long set up. Micro wedge bull flag buy set up. And got to love the 11:30 bear trap⦠after entry, didnât like the retrace/topping tail on the large Breakout bar (12:00) again. So I decided to take my 20Pts profit and call it a day. I was lucky enough to get that todayâ¦+20Pts
PnL: $137.80, 3 trades, 100%winrate
I really don't think luck has much to do with it! 3 for 3, that takes discipline and skill, very well done. 
Hi Matcha,
Excellent 3-for-3 trades today and you made your daily PnL goal! More of these to come!
In your Trade #3, you mentioned L2 Long set up. I think I only saw a H2 Long setup using a microscope on the 1 minute chart at where you had the up arrow. Was that the case? Or was that the doji bar at the bottom was considered as a H2? That was a great trade using the previous swing high resistance area as a support. And you got out at a perfect timing.
Have a great evening!
--po
Quote from ~~~:
Merci PO .. You're Welcome to join us ... i think Matcha and i will make you laugh & laugh LOL
Haha! Sis ~~~ is always young and beautiful!
--po
Quote from PatientOperator:
Hi Matcha,
Excellent 3-for-3 trades today and you made your daily PnL goal! More of these to come!
In your Trade #3, you mentioned L2 Long set up. I think I only saw a H2 Long setup using a microscope on the 1 minute chart at where you had the up arrow. Was that the case? Or was that the doji bar at the bottom was considered as a H2? That was a great trade using the previous swing high resistance area as a support. And you got out at a perfect timing.
Have a great evening!
--po
Hope this day happen more often!
Sorry for typo again. After watcing market tick by tick since 6:30am untill 1pm. Then log on my trades in my stats. I usually got very tired while writing this journal. Eyes blurry and watery.
sorry, I have to remind myself again that not to make typo errors on key words and terms. You are right, Its a H2 long. It was a very risky long since I didnt wait for bull reversal bar then to buy above the bar. I entered on a BO PB of the bear channel on 1 min chart. The risk and reward is great. If you bought above the bar here on 5 min, the trade would have worked either. I took this type of trade and entry when market is in a trading range. In a trending trading range day(to me, trending TR day today started from 10:00 break out bar), price usually tend to go back and test the upper range of the previous trading range-the magnetic price area. --11010 area for YM. In addition, micor-wedge pattern, 2 leg PB H2 buy, channel line all lined up at this level. Then 11:30 bear trap time is here too...
Quote from Bolimomo:
Your Trade #3 long was a good trade. I placed an order to short the recoil of S&P around 11:30 am, but later I cancelled. Had I taken that trade it would have stopped me out by 2 S&P points.
Enough to pay for Andy Lau's concert? Or was it a virtual concert?
hehe, thank you, sifu.
Virtual oh.... still. Hopefully in 2011 I can buy everything in real $$$, no more monopoly money
My BF Andy lau's concert isn't expensive at all since good ones are all taken.
My korean BF Rain's concert ticket is quite expensive. Jolin's xmas concert in Taipei is not cheap either. But compare with Jay Chou's concert in San Jose this year... They are all cheap. Heard it's $500 per ticket...Quote from Matcha:
Hope this day happen more often!
Sorry for typo again. After watcing market tick by tick since 6:30am untill 1pm. Then log on my trades in my stats. I usually got very tired while writing this journal. Eyes blurry and watery.
You are right, Its a H2 long. It was a very risky long since I didnt wait for bull reversal bar then to buy above the bar. I entered on a BO PB of the bear channel on 1 min chart. The risk and reward is great. If you bought above the bar here on 5 min, the trade would have worked either. I took this type of trade and entry when market is in a trading range. In a trending trading range day(to me, trending TR day today started from 10:00 break out bar), price usually tend to go back and test the upper range of the previous trading range-the magnetic price area. --11010 area for YM. In addition, micor-wedge pattern, 2 leg PB H2 buy, channel line all lined up at this level. Then 11:30 bear trap time is here too...
Hi Matcha,
No need to say sorry!
I have my fair share of typos too. I appreciate you spend the time to document your journal after a long day. Getting up before 6:30am is not easy. Thanks for explaining the H2 setup. I would not have spotted this. You did a great job taking that long trade. I, on the other hand took that short trade which Boli didn't take at 11:32 pst. Lost 2 ES pts.
Later took a with trend long trade after a pullback at 11: 52pst and made back 3 ES pts.Those wonderful trades will continue to bestow upon you!
--po
Quote from Matcha:
Virtual oh.... still. Hopefully in 2011 I can buy everything in real $$$, no more monopoly money
My BF Andy lau's concert isn't expensive at all since good ones are all taken.
Hi Matcha,
Here's a fortune cookie for you:+--------------------------------+
| 2011 will be your lucky year. |
| You will be a rising young star. |
+--------------------------------+
Hehe! No more monopoly money! You will be able to buy everything you want.
--po