20140127
Short 1 TF 1143.3, +1.2
Long 2 TF 1138.2, 1138.5, +1.7, +0.5
Long 2 TF 1135.8, 1135.6, -0.5, +0.5
Long 2 TF 1135.9, 1134.9, -0.5, -0.5
Long 2 TF 1133.2, 1133.2, -0.7, -0.7
Long 3 YM 15823, 15823, 15823, +20, +20, -0
Long 2 TF 1127.3, 1127.2, +0.5, -0.5
Long 2 YM 15810, 15807, +10, +20
Long 2 TF 1128.1, 1128.4, +1.7, +0.5
PM Trades:
Short 1 TF 1125.6, -0.5
Short 2 TF 11261, 1126.3, +2.0, +0.7
Total YM +70
Total TF +5.3
The Trade Plan says to look for reversals back up after a Persistent Trend Day Down, and the early action in the TF and the subsequent lows in the YM did provide good bounces and profits. But was hard to escape the strong feeling of 'should have known' regarding the breakdown levels where I balked at taking shorts in the TF today. The Serial Sequent sell signals in the daily frame for both TF and NQ some days back have been showing excellent production, but it is hard to carry larger frame signals into the lower frames with consistency, Alexander Elder notwithstanding. I must renew my efforts at overcoming the mental blocks to taking breakouts, at least at the levels where the fractal method indicates they have the greatest chances of success.
Addendum: The Last Chance Texaco showed up a bit early in PM action, as a reversal finally captured a little ground. Despite the incredible heaviness, the Trade Plan says not to target a new LOD with the Last Texaco short, as this would be the 2nd day of Persistent Trend Day Down action, and therefore far more vulnerable to a short covering reversal. As I write this, am pulling all chips off table and stick with decent profits. Trade the Plan, not your opinions, and be careful of tape reading your entries based on the 'feel' of the trend. Intuition and tape reading are recipes for inconsistency.... or worse....
