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).
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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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