Range days are confusing too me right now. I think I was lucky on one or two trades today, especially the first trade. Going to need a lot more practice on range days b/c they do not always give you your 2nd entry signal. They will hit the top or bottom of the range and then go off of it. Draw your first channel or your range bars off of the overnight high/low.
Trade 1: Should not have taken this trade. Figured the market was overbought and had a long trap so I could scalp a point. Do not continue to do this.
Trade 2: 2nd entry long in an uptrend. If you look to the right you will see a better entry after price made a double bottom. More confirmation that price is going up and I could have gotten in one tick better.
Trade 3: Blindly put my stop and the bottom of the initial range. Not sure about this type of trading, I don't like it so probably won't trade like that until I get more experience.
Trade 4: 2nd entry long off of new range low. Also thought that may have been the bottom of a new downward trending channel. Ended up closing out both positions when I only meant to close out one and move my runner to BE.
Trade 5: 2nd entry short off of the top of the range.
Trade 6: 2nd entry short off of near top of range.
Missed Trades:
1. 2nd test of original low and the market had traded up into that range. When the market tries something twice and fails then the market is usually headed in the opposite direction.
2. Price broke through the resistance and came back and touched support. (My resistance level should have been one tick higher)
3. I saw this right after it formed and I was already in that bad short trade. 2nd entry long after failed break out low. I should take this every time.
4. A better long entry after a double bottom.
5. Long entry after a short trap and bouncing off of range low. Not a 2nd entry long so I didn't take it and it was 20 min to close on a Friday so I probably would not be trading at that time anyways.
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