Daily charts:
- trend is up on daily charts
- today markets closed flat at 11748
- AD was 5:14
- broader market was weak
5 min charts:
- as markets are rangebound, I am using price action trading
- took short position in 2nd bar
- covered around 11730 F
- missed long trade as shown in circled area
- my entire premise in taking any trade is to locate a position or area where risk is lowest
- so prev day high/ low offer excellent opportunities for short/ long trade with clearly defined targets
I am also now trading weekly options... here is my MTM statement for the day
I always trade in 2 accounts so the other account has roughly similar P&L.
- trend is up on daily charts
- today markets closed flat at 11748
- AD was 5:14
- broader market was weak
5 min charts:
- as markets are rangebound, I am using price action trading
- took short position in 2nd bar
- covered around 11730 F
- missed long trade as shown in circled area
- my entire premise in taking any trade is to locate a position or area where risk is lowest
- so prev day high/ low offer excellent opportunities for short/ long trade with clearly defined targets
I am also now trading weekly options... here is my MTM statement for the day
I always trade in 2 accounts so the other account has roughly similar P&L.
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