Another "no-trade" day with both the 1276.50 and 1281.00 levels forming part of the initial balance.

Bit of a churn day pre-NFP, but a break towards a test of the Weekly Pivot Point towards the close.

Joey25

There is a slight change in format, with the introduction of some classical pivot points.

1352.08 (Weekly R3)

1343.25 (Resistance)

1328.75 (Resistance)

1316.75 (Resistance)

1308.08 (Weekly R2)

1300.50 (Resistance)

1280.92 (Weekly R1)

1276.50 (Daily Pivot Point)

1264.08 (Weekly Pivot Point)

Joey25

No trades today - the 1272.75 level was straddled in early trade. Beyond that I was looking at 1300.50.

I've had a lot of time to think today and there have been 2 major items of note:

(1) There's often a striking confluence between Classical Pivot Points and Market Profile.

(2) My MP setups are drawn from the 30-minute chart. It probably makes sense to grind down to the 15-minute chart for trade management, but no further.

Joey25

1351.75 (18th June Overnight)

1343.25 (20th June Overnight)

1328.75 (25th June Pit)

1316.75 (26th June Overnight)

1308.00 (26th June Pit)

1300.50 (26th June Pit)

1272.75 (24th July Pit)

1252.17 (Daily Pivot Point)

The reasoning behind ending the day if the first trade is a loser is because this method is about anticipating the most likely places where, if they want to get...

Joey25

A loss on the 1st trade, therefore end of day:

Trade 1

Sold at 1249.00
Stop at 1253.00
Target at 1243.00
Exit at 1250.25
Gross p/l = -1.25

Total for the day = -1.25

Joey25