Retest at IBL with liquidity and 2.SD - ES 24.04.2024

Laura Schwirten

Apr 24 (edited) in 🏅 Wins

Situation of the day: HOR - Higher out Range

Setup Notes:

Bullish context or Range Day
Market is in the opening range between both 2. SD's
Entry at the bottom of the range: IBL with liquidity, 2.SD and high selling VPI
Target at IBH with 2. SD or a HTF Level with liquidity
not much liquidity below

Profit 10 Points 🥳

Comment by Blue Jacket Winner and Bookmap Coach Jec:

Adding some info here for you ... Really good amount of stops hit there too at the peak lower for your long entry and I really like your exit. If you do multi-contract setups that mid point between IB H/L or OR H/L can be really good too when you evolve to your next step.

Also what's really great is you get a consolidation pattern after your entry which really helps with that long bias conviction.

Overall these are both really great setups and iterations of her process. The first she was using HTF in conjunction with the market-pulse tool adding confluence, and again in the 2nd image we see the same thing. One of the things we also discussed though was, some of the stats she was basing her trade off of. She was looking long because historically, about 70% of the time, A specific long setup works out. We can see in the first image, it did not work to her target and she exited promptly when she got a look she didn’t like. This is FANTASTIC management. If you don’t like something, cut it. Trust yourself. Even if you’re wrong, doesn’t matter. As you iterate through your process and gain experience you’ll decrease the amount of times “you’re wrong” but in that time of learning you didn’t have to suffer large losers. We can also see she managed the trade under her conditions REALLY well, she’s wanting to avoid the drawdown in the prop account. Sometimes that’s what we need to do. We need to adjust not just to market conditions, but our own conditions. This includes mental conditions, whether or not you’re sick, or any thing else. Lots of trader mentors recommend assessing your personal state in the morning before the market opens for this very reason. Great job adjusting there Laura.

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