10-29-2013

Pre-Trading Notes:

1.  The market is symmetrical.  When you find a good trend channel then draw it over in a measured move b/c price seems to bounce off of those areas as well.  This also seems to work in a range as well.
2.  Keep drawing the range bars even in just small support/resistance areas.
3.  Wait for price to come back to your support and resistance areas as well as your trend channels.  Do not chase or get in early with a false signal.
4.  If price has been above the EMA for over an hour then it is in an uptrend.  Opposite side for a downtrend so DO NOT COUNTER TRADE!!!!!

Post Trading Notes:

1.  For some reason today I could not see the trades when doing my review.  The violet circles are trades I saw after the fact but I had trouble spotting them at the correct time.
2.  Maybe I am struggling drawing my S/R lines b/c those kept me out of the big runner around 11:07 b/c I thought price was too close to the resistance area.  Obviously it was not.
3.  I didn't see the big channel until after the good runner trade happened.
4.  Better job in spotting the overall trend channel.  Getting quicker but still lagging.
5.  The trade at the end of the day I shouldn't have taken b/c it was too late in the day but the setup was beautiful.

Mack's lines are in black.

Mack's Notes:

1.  A failed 2nd entry short is when price breaks above a bar before it reaches the scalpers profit.
2.  You don't want to get long too close to the previous high after the first break of a trend line.

Trades:

1.  9:25 - Failed 2nd entry short off of the EMA.
2.  2:38 - Thought it was a 2nd entry long off of the main lower support channel line.  Turns out it was a 3rd entry which isn't a trade setup.  The entry bar created a nice trap almost off of the lower trend line and I rode it to the top of the trend line.

Missed Trades:

1.  7:39 - 2nd entry long and a failed 2nd entry short off of the lower trend line.
2.  9:58 - Trap that reversed off of the support line.  It looked like it was a failed 2nd entry and I also had my support area lower from the previous swing low.  I saw this trade after the fact but missed it when doing my review (obviously).
3.  11:07 - 2nd entry long off of the EMA.  There was also a short trap at the swing low.
4.  12:47 - 2nd entry long off of the EMA and lower minor trend line.