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PriceAction
I went with the Pre-Market (PM) analyses trend and it reaped its rewards.
Traded 30 cars/constracts:
T1: 10 ticks and Took 19 cars off the table
T1 came so close to my first target and then it reversed. Ouch! It's a good thing that my 12-tick stop wasn't triggered.
T2: 20 ticks and Took 2 cars off the table.
My trading plan says to move the stop-loss AFTER getting T2 or AFTER being in an executed trade for at least 60 or 90 minutes. That was the case, today, and I moved my stop after 90 minutes to b/e plus 10 ticks. I'm happy to announce that my stop didn't get triggered and PA got to my T2. Yay!
T3: This is my runner for the remaining 9 cars.
By this time, it was already 2:00PM (EST) and Crude pit, in Chicago, closes in thirty minutes. Price Action (PA) wasn't making new lows and it was in a consolidation pattern. So, I moved my stop-loss to b/e +25 ticks to conserve profits. I'm soooo happy that I did, because the market rallied to new highs.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2014-07-14 12:10:46 | CLQ4 | sell | $100.75 | short |
| 2014-07-14 12:45:04 | CLQ4 | buy | $100.61 | 0 |
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