A confusing day, one in which I wanted to walk away, but perseverance got the better of me, and I’m glad it did.

When the day began, I felt that the market was in an uptrend. I marked it on the charts and started looking for long entry opportunities in the market.

Despite my gut feeling, the market continued longer for a short period before the price spiked in a bearish move.

Patience is key; sitting on your hands is tough.

I began to check the higher timeframe chart and noticed that I was in some kind of higher timeframe range. I started to sense that the price might be trying to go short to test the bottom of the range.

After the brief spike down, I observed the price beginning to form a range. I noticed a push up from the lower range, but the price then started to hold at the EMA. The EMA was now acting as resistance. There was a good second short entry right at the EMA, which you can see with the candle that has a large wick but closes below the EMA line.

I tried to enter this trade, but I couldn’t get filled on my limit order, and in some way, I’m glad. The price quickly pulled back, and although I would have made a profit on this trade, it was very quick, and I don’t think I would have felt comfortable with it.

Luckily, the price tested the EMA once again, this time forming a nice lower high setup. This lower high is one that I took. The trade was very quick! I intended to sell with 3 contracts, and my setup looked like I should have done just that. However, for some reason, I only got 2 contracts.

Either way, this was a quick trade, and a scalp for 8 ticks was made within a few seconds. In hindsight, I should have aimed for at least 10 ticks because the ATR was high. However, this was a very fast entry and exit. As soon as I entered the trade, it was closed immediately with a take profit.

That’s it for the week. I didn’t trade on the 24th and 25th due to other commitments. This ends the week with a total of minus 3 ticks on my account. Let’s hope for improvement next week.