The Price Action Journal

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There was no weakess today. If you had bought on the first higher low this morning, you could have hung on, moving your stop, even keeping it conservatively close, and still made 25 points. What a day! These are the days you just buy and hang on tight.
 
Quote from Floyd Roberts:

TXGrill,

What was your entry based on? Did you use a limit or market order? Thanks.

Floyd
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Just my 2 cents. I made the same entry today, based on the LH,LL, HH,HL that formed at the point.
 
Quote from Floyd Roberts:

TXGrill,

What was your entry based on? Did you use a limit or market order? Thanks.

Floyd
More...

Hi Floyd,
I changed the chart interval from 3Min to 1Min and increased bar spacing a bit so that it's clearly visible.
My entry was based on price holding twice at the 1287.25 (resistance turned support...possibly) which lead me to believe it was low enough risk for entry. Otherwise I would have passed. My entry wasn't exactly on the 1287.25 but I was willing to risk up to 6 ticks with my stop just 1 tick below recent support. Believe me, it got close (within 1 tick) of stopping me out 4 times over the next 45 minutes. But I was fine with that. Fortunately it worked out.
:)
My stop adjustments are more self-explanatory.

Regarding order execution, I used a buy limit on my NT DOM.

Take care,
Tex
 

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