Mistakes: 

• Using too much risk in high resistance conditions: It was obviously whipping and wicky high resistance. My second trade would have been a winner if I reduced risk to 1 contract and place my stop at the swing low. Save 2 contracts for high probability days.

Where I did Well:

 

What Needs Work:

• I NEED to size down while conditions are high resistance. Its been a pattern of really crappy price action for over a week. Until we start having some better days, I just need to assume its going to be trash every day and take my entries and risk with that in mind.

Trade 1 – Loss

This in hindsight was a pretty bad trade to take with 2 contracts following a week of trash high resistance price action. Price displaced up hard creating the breaker and inversed the first presented FVG. I entered off the breaker with my stop below the first presented FVG. The same candle I entered violently continued down taking out the low and my stop.

There was also a bearish SMT at the high and ES was pushing up into its first presented FVG, further solidifying that I should not have entered

Lesson:

Trade 2 – Loss

I took the next presented bullish breaker which also aligned with the first presented FVG. I ran two contracts and placing my stop at the swing low was a lot of risk. This trade retraced way more than I hoped it would, stopping me out and then taking off for a nice 100 point run.

My mistake here was not placing my stop at the low in high resistance conditions. I should of just ran one contract or been okay with losing $60 more dollars. High resistance needs wider stops. 

Trade 3 – Loss

In hindsight this was a terrible terrible trade, but in the moment I can see why I took it. After missing both long positions, I waited until price hit the weekly opening gap which is quite large.

Price traded up and then broke down with displacement creating a unicorn like entry. I had a 1 and 5 minute CISD and 1 minute MSS. However did not have a 5 minute MSS nor did price breaker below the suppose breaker— making it an invalid breaker. Price also failed to displace below the low of what I thought was the breaker. There was also a major liquidity pool sitting right above the high. While this doesn’t mean its not bearish, I should have used reduced risk and allowed more room for the reversal to confirm

But the biggest problem with this trade was I held onto it way to long. I sadly took two contracts on this with a 27 point stop loss, so it was a $100+ loss.

Two big takeaways from this trade.

First I need to make sure that price actually displaces under the low of the candle that would make the breaker— AKA confirm the breaker has actually formed.

Second, I need to stop looking for reasons why the trade can still work out. The invalid “breaker” was clearly violated and with the liquidity pool sitting right above the high, the probability of it continuing to drop was low. Had I killed the trade with the same invalidation that I entered, it would had been a $30 loss.

Trade 4 – Loss

After sweeping both the previous high and a major liquidity pool, price displaced heavily creating a 1 minute MSS and CISD. However came shy of a 5 minute CISD. The breaker formed with a FVG just above it so I kept my limit order high and was going to position it lower if we started rejecting the breaker. Price wicked up fast and gave me a flawless sniper entry before displacing down fast.

I thought this was the trade. We balanced the lower half of the NWOG and then started displacing lower, followed by deep retracements back up to the breaker with every sweep. It felt high resistance, but I was married to the bias of lower with a low resistance liquidity run down.

But again high resistance. After being up $200 two times during this trade there was some insane displacement up into the breaker. I thought it would buy back down (hoped), but it didnt. There was one candle that wicked down hard, but bought back up just as hard and it was at this moment I should of killed the trade breakeven.

The lesson here that I need to desperately learn is when price is high resistance, I NEED to offload some risk in profit. There is no reason why I couldnt close one contract out +$100 and let the other one run to glory or stop at breakeven. Had I done that I would had been slightly red on the day instead of max loss.

It was a great entry that I mismanaged and let hurt me.

HIGH RESISTANCE = TAKE PROFIT EARLY!!!