Then comes my last trade before going to bed at that point, the huge drop in price. And this time, I used pivot points the way I will from now on. I have a S&R line at 223.92, but there was a pivot point support just above, which made me a little more wary of entering right away. But once price cleanly got through both, I got in short at 223.82. I also knew that this wasn't a 30 pips trade, and wanted to raise my target to a lot more, but settled around 50 since there was another pivot support around +75, so I gave it a little room above. I took the 50 pips and was happy, even though I could have gotten more after the temporary retracement that happened after hitting the pivot support. In @ 223.820, out @ 223.314.
As I said when I started this journal, I am not aiming for a ton of pips, just a constant stream. No greed here!
Trade #9: +50.6 pips
Total for the week: +101.2 pips
Target for the week: 100 pips (met! as I said, these are only the
proper trades)
Improper trades (4): -69.7 pips