12/21 Trade Review → -5pts/-$250 on 1 Trade:
Here’s a screenshot of the day’s action. I marked up 1 spot on the chart that I want to discuss. Keep in mind that the white horizontal lines indicate the initial balance high and low (which are the actionable entry levels for my strategy).
1. Short at Initial Balance High → -5pts/-$250
Fairly tight initial balance range today (about 25 points) which tends to favor a breakout of the range. But with this strategy, I essentially fade the edges of the range until proven otherwise (acceptance into new range).
Took a small 5 point loss and then no other opportunities really presented themselves for the rest of the day. Almost had a long entry at the IB high around noon, but didn’t get enough of a pullback (missed by 1-2pts).
Written by Matt Thomas (@MattThomasTP)
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