Early Morning Range Breakouts using time and sales

[robocop]

EBAY Long @ 42.61
Stop @ 42.57

DRBO

 

[robocop]

EBAY Long @ 42.61
Stop @ 42.57

DRBO

Stopped out @ 42.57

 

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ROST Long 1000 @ 68.20
Stop @ 68.11

DRBO

Stopped out @ 68.10

 

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SBUX Long 1000 54.22
Stop @ 54.13

 

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SBUX Long 1000 54.22
Stop @ 54.13

Stopped out @ 54.13

 

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SBUX Long @ 54.27
Stop @ 54.19

 

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SBUX Long @ 54.27
Stop @ 54.19

Stopped out @ 54.19

 

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TFM Long 1000 @ 53.52
Stop @ 53.44

DRBO

Out @ 53.61

 

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Daysummary



Entry on crosshair, exit at end of chart.











Choppy afternoon session. All the good action was in the morning.

I did a paper trade in the morning on facebook this morning, just to try out the pattern. It worked out as expected (ca. 75ct profit per share).



Cheers,
Robocop

 

[robocop]

FB Long 1000 @ 31.96
Stop @ 31.88

 

[robocop]

FB Long 1000 @ 31.96
Stop @ 31.88

Good entry, first target @ 32.50 area.

 

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Good entry, first target @ 32.50 area.

Well, not so good entry afterall. Stopped out, FB reversed awfull.

 

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CELG Long 1200 @ 67.52
Stop 1200 @ 67.38

 

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GRMN Long 1600 @ 38.95
Stop @ 38.87

 

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CELG Long 1200 @ 67.52
Stop 1200 @ 67.38

Out @ 67.51

 

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Out @ 67.51

Stopped out @ 38.86

 

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Daysummary









FB - Good entry for a Daily Range BreakOut. Bad exit. Should have taken some 32.15 area.
GRMN - Entry was oke, but had some slippage. Exit at stoploss (break of ema).
CELG - Good entry. It did take some while before it moved higher. Exit at breakeven in last few seconds of session.

Time and sales and setup at entry of GRMN. The two lines in the green area in the chart are the spread in realtime. I shall try to take more screenshots of time and sales at entry.



I've got a bit of a losing streak. This is probably due:
- my tighter stoploss
- summer markets (are a bit erratic in afternoon session)
- ignoring the ERBO setup. Instead I take also DRBO.
- more trades open at once
- doing other things while trading
- forget to take (some) profits while they are there
- trade breakouts while markets are contracting

 

[WinAtTrading]

I've got a bit of a losing streak. This is probably due:
- my tighter stoploss
- summer markets (are a bit erratic in afternoon session)
- ignoring the ERBO setup. Instead I take also DRBO.
- more trades open at once
- doing other things while trading
- forget to take (some) profits while they are there
- trade breakouts while markets are contracting

My opening range breakout trading has been in draw down the last 2 weeks. This is entirely natural and I see it as a normal change in market character. It will change back, and Ive seen this many times over the last few years. Trade smaller and wait for the conditions to improve. Dont mess with your rules too much as that could affect your results when the market changes again.

Winattrading

 

[robocop]

My opening range breakout trading has been in draw down the last 2 weeks. This is entirely natural and I see it as a normal change in market character. It will change back, and Ive seen this many times over the last few years. Trade smaller and wait for the conditions to improve. Dont mess with your rules too much as that could affect your results when the market changes again.

Winattrading

Thanks for your feedback, I will trade smaller size until the markets change character.

Robocop

 

[robocop]

Didn't trade today, but I like to share some beauties of today. With these in my mind I can remind myself how a good trade/setup should look like.









If I look at the 4H NDXT index, can I conclude that:
- breakouts are less likely to work well in consolidation areas (parallel red lines)?
- we are still in a downtrend (or already reversed)?
- there is an upside down head and shoulders pattern completed?