In yesterday’s trade strategy we were looking for a test of 1596 low from 6/8…that’s exactly what happened, followed by a strong rally which hit projected upper targets. The larger degree pattern setup as “1st Pullback” which we twittered:
We know that the 1st pullback is the safest place to enter a new trade, along with successful test of low, gave increased confidence at the beginning of yesterday’s session to be focusing on long-side. Open Range Strategy configuration allowed low-risk intra-day entry from 1612 as well as multiple Discounts and Buckets to get in on the developing trend and stay on-board.
Contract Rollover is underway to September, so following a strong trend day we anticipate some ‘back n fill’ type trade action today. Today’s Trade Strategy would be to buy the dips and sell the rips from dynamic pivot zones outlined in PTG Trade Room.
Below are some “trader affirmations” that can be used to keep your mind focused and alert:
- I am becoming more consistently profitable
- Today, I follow my setups flawlessly
- Today, I immediately execute the trade my system offers me
- I follow my trading rules
- I take every valid entry
- I stay with winning trades
- I cut my losses right on time
- I act on time right on time
- I apply my methods to the market
- I want what the market wants
- I can handle anything that come up
- I am…Courageous, Steady, Professional, Winner, Confident, Clear Minded, Detached, Patient, Effective Trader.
- I will reach my goals by applying my winning method.
I am detached from the results. I think in terms of the process and the validity of the process. I understand that I am more than the trading. I do not tie a fragile ego to any day’s trading results. I have faith that over time I will make money. The results of any one trade are statistically unimportant. I think in term of probability. A single trade says nothing about me as a person.