Trade With Meza
Trade With Meza
Oscar Meza
Established some value! Looking forward to the 4500 area!
8 minutes Posted Jan 31, 2022 at 12:00 am.
, from a maximum loss drawdown, and keeping to a maximum of 3 trades a day.
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Discuss overall market structure referencing previous week & Scenarios for next week.
We dropped lower and rotated throughout the week establishing value. We created some value on the upper range but failed to hold. When price traveled to the lower range it got bought up instantly, however, the higher end of the value kept getting tapped frequently. This week showed interest on the higher end of value, this can give us an idea of what we can expect for next week. With a close outside of value on the highs I believe we can join the value above 4500 again. I believe approaching 4480-4500 is completely possible, I want to observe the price in that area to see if we can either break it or reject it.
Discuss anything throughout the week
this week I realized how well I perform on initiative trades rather than responsive trades. I was long at lows on Friday and I got a few points in the green but ended up coming back to lows and ticked lower making me stop out. It ended up being a fish out and came back up to my profit target. A friend of mine gave me some advice to juice one contract and close one of them to leave me some room to lower my stop instead of leaving the stop at lows where its known to fish out participants at lows on responsive days. Reason being is because I have noticed this is something common that happens on responsive days, and with responsive days affecting my performance this can help me out on cutting down on losses.
Another thing that I want to work on is to stop trading by