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12/7 Trade Review → +27pts/+$1,350 on 3 Trades:

Here’s a screenshot of the day’s action. I marked up several spots on the chart to discuss my thoughts. Keep in mind that the white horizontal lines indicate the initial balance high and low (which are the actionable entry levels for my strategy).

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$150K Topstep Futures Funded Account Challenge - 12-7 Trade Review

1. TRADE #1: Short at Initial Balance High → +8pts/+$400

Took a short entry right after 10:30am near the IB high. Really nice initial impulse down, but couldn’t get continuation below VWAP. Locked in an 8pt gain.

2. TRADE #2: Short at Initial Balance High → -5pts/-$250

Re-entered a short position on a test of the IB high. Poked through and took out my stop for a 5pt loss.

3. TRADE #3: Short at Initial Balance High → +24pts/+$1,200

Entered another short on a false break of the IB high. Nice impulse down and Locked in a 24pt gain.

Overall – Really Nice Action For My Particular Strategy:

Today’s action is pretty much exactly what I’m looking with the particular strategy I’m showcasing here – fading the extremes of the profile/initial balance range back to value (or the volume point of control).

The market traded within that balance range essentially all day. It gave a little push on trade #2 that stopped me out, but quickly accepted back into the IB range. This is a day where you can clearly see the power of these levels.

Volume Profile Trading - What Does Volume Profile Tell You

All of my trades for the day ended up being shorts, but there were also some potential opportunities on the long side. At around 11:30am and 2pm, I had long orders in that missed getting filled by just a few ticks each.

And there was even a third time around 3:20pm when the market approached the IB low again and had a nice upward impulse. But I don’t typically like to enter any trades after 3:15/3:30pm.

Overall, it was a really good trading day – and especially nice to be able to quickly make up for yesterday’s mistakes.

Written by Matt Thomas (@MattThomasTP)

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