Anyhow, here are some of the trades. The one loss i was p'eeved about in the ES was on a pattern that, yes, it was valid, but at the same time those bars that reverse hard like that from essentially the top of the swing are rarely good entries. I knew this... I didn't want to take the position... but this week is all about taking the trades and letting the outcome speak for itself.
Overall... 5 wins, 2 losses, and marginal profit - BUT I did turn a profit today and i'll take it.
Trade Results:
ES: -25.00
NQ: +55.00
3 comments:
Matt, On your ADX indicator, what's the blue area signal?
The blue is any area on the chart where the ADX has stayed under 20 for greater than 25 periods...
I found (especially in FX) that when it stays down there for a prolonged period of time reversal tendencies give way to outright chop.
The best reversals are in "trending" markets that dip out of the trending zone to give you an entry pretty quickly and then resume...
Good idea,thanks Matt!
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