05 Jun Daily Report Card 06052020
My weekly goal
Only take trades when there are at least 4 confluences. Trade location. Market Profile. Price action confirmation. Follow hard entry and exit rules.
Good Pre-market routines
Good Session PECS
Good Trade selection
Good Trade Execution & Mgmt.
Good Risk Adjusted Returns
Yes Daily review
Muppet meter (1 being best — 5 being worst): 1
- London opened below value but not too overextended hence a long from IB extension up is more risky. A better opportunity would be the H4 conterminous 1.9497 from the H4 DBD (coinciding with VAL) as a higher probability trade opportunity. However since HK exhausted its range I am also leaning towards a possible IB extension down continuing the trend
- Due to NPF being released later in the session it is best to stay out of trades.
What did I learn today?
- A day with a NFP release can be very jumpy to say the least
For my trade plan(s) on this particular day, go here: