- Im a little confused on why I took zero trades today when I knew that all internals were clearly trending lower plus we hit BSL in the premarket high. Ontop of that I had an IR entry possibility and I hesitated and never took it. If I want to walk away with 20 points on the week I can be scared to lose 5 when ALL of my variables are working together like they were today
1. BSL
- We hit BSL at PM high which was also a daily FVG low. I think that maybe since the downtrend started at that BSL and then just went straight down after the open I was a little hesitant but there is no room for hesitation in trading I cannot do shit like that. I need to be able to just go and trust my strategy. We were clearly downtrending very very hard for the entire first hour and I took no trades in it
2. Internal Confluence
- Internals are also going lower which aids me in knowing that my probabiltliy of winning is going to be much higher. WHY DIDNT I TAKE A TRADE?????????????????
- Extremely clear downtrend here and we never even attempted to get anywhere close to the HOD on Sell Side. Once we hit that level Id be more cautious about going short but we never even got close, just shot lower and lower and lower all day.
3. ICT entry?
- We had an IR entry but I never took that before so was hesitant. I think that I need to be more willing to just shut the fuck up and get in when I have BSL and confluence. Its just simple statistics, when those 2 things happen I have a much much higher likelihood of winning. Like exponentially higher than I used to have just guessing tops and bottoms and not giving a shit about BSL SSL or any type of liquditiy zones in the price action.
This is the trade I should have taken, we have ICT entry firstly on the huge 4h FVG above that we just failed at in pm high then also this smaller 5m FVG that I couldve used as an entry as well as using the candle before it to use as a stop out level.
This is the same trade but broken down further on the 2m chart. We have another FVG that is somewhat larger than the 5m FVG and I couldve shorted with stop above the candle before the FVG. About 5 point risk for 5 points on first exit then 5 points on second exit so about a $75 trade had I done it correctly. I think targeting a new LL instead of the highest level of liquidity is probably for the best for now. Someday I can do that more but for now lets just lock in a strategy and make sure it works.
How crazy would it have been to target the PML as SSL?
- Since my entire strategy is based off of reversals from SSL or BSL then why the fuck am I not targeting the next highest level of reversal potential? I think yeah this is a bit wild because it is a 20 point trade but I have done those many times in the past and I dont think its smart to assume I cant do them anymore but I do think its somewhat dumb for me to base a strategy off of the BSL SSL hit as criterium 1 when I am not willing to also take trades to the next level of liquidity. Perhaps though instead I just keep trading after I get my 10 points and see what happens. What would that look like?
When we go from green to red on VOLD and then we never even attempt to break the first break down into the red levels and we just consolidate down there that is when the VOLD is actually quite helpful in terms of value alone. If we start at 2 and then get down to -2 and just hold that all day its somewhat smart to assume that sellers got it down there then gained control and held it there for the rest of the day. I think so long as we are trending down and consolidating down there like that then its definitely okay to put trust into the idea that we will hit SSL