11-12-2013

Pre-Trading Notes:

1.  Draw the short term pull back trend line and wait for the break and retest of the high/low.
2.  If in a an uptrend and you get a pullback draw the short term trend line and wait for price to break it then retest the low before going up again.
3.  If in a down trend and you get a pullback draw the short term trend line and wait for price to break it and then retest the high before going down again.
4.  If you are unsure then do not force a trade.  You have to have a plan for what you think price is doing based on the price action.

Post Trading Notes:

1.  The two main trades I am taking are when price breaks out of the short term trend line against the trend and tries to create a new high but doesn't.  The 2nd one is when you are in a trend and get a 2nd entry signal.  These are the two I am focusing on so I do not confuse myself with the other price action trading setups.  I will miss some trades but will have more winners.

Mack's Notes:

1.  Draw your short term trend lines.

Trades:

1.  9:01 - 2nd entry short and price had broken out of the short term trend channel.  Price tried to make a new high but failed after hitting the top of the trend channel.
2.  9:32 - Same setup as trade 1.
3.  2:23 - Same setup as trade 1.