May 22 / 18 year Recap

Well I wasn't supposed to trade. But I was so very locked into being crazy patient on the 10m. I got to the charts around 230p. We had what I felt was a very similar setup to yesterday, except clearer because the hourly ribbon was actually bearish this time. It was easier to have a downside bias, especially because we were for from the previous swing low, and running up against a key level from yesterday.

10m chart to the left. I was anticipating a double top in yesterdays supply. Too early!

I didn't get sucked into chasing the original move down into the ribbon. We started digging into the ribbon and eventually bounced. I started to be annoyed I didn't take calls and didn't defer to the 3m21e. But, my 10m setup was a potential divergence into supply with a bearish hourly chart. So, I was okay 'missing it' The next 2 to 3 10m candles we moved sideways with some meaningful bearish wicks.

We spent about 20 mins struggling to break yesterday supply and started making 'quicker' moves down on the 3m. HOWEVER, there was still no 10m setup. Eventually I caved and took 1dtes at resistance. As soon as the 3m8e reclaimed I got out.

The mindset that compelled me to immediately take the stop was 1. it was an acceptable loss (-1.73%) 2. I took a real pause and realized I could always get back in.

Which is exactly what I did once it was hilariously clear. The 10m chart showed real potential to rip higher, but ran into resistance at the hourly 21.

According to my system and plan I should've waited until the bearish engulfing tweezer top to close. Instead, I entered on the loss of the 3m8e. I wanted to enter even sooner because I saw a 1m divergence. By flipping the chart to the inverse, it was even easier for me to see the 1m W bottom with divergence.

I added size into 0dtes because it really did become abundantly clear. 0dte near the end of the day compelled me to take profit quickly. I exited my runner at 50%+. However, if I simply set a stop at break even, it never would've hit and went on to close at 375%!

I'd also like to point out that even if I had waited until after it was clear on the 10m chart with the bearish engulfing tweezer top, and then again waited or even chased with a SL of the 3m21e, I would've had the justification to hold until the call trigger and then the PDC.

But, I am pumped and proud of my patience. I'm proud that even though I was early I was willing and did take my stop. The small loss allowed me to then size into 0dtes. I'm also proud that I took profit quickly given how volatile those contracts can be. Yes I wrote how I wish I held with a BE stop, but returning 12% in 1 trade is more than enough :). (Then again the 1 runner to 375% increases the profit on the trade by 50%!)

Patience pays. Patience paid. This is how I will continue to trade. Wait until I can defend my entry based on the 10m chart and higher. Only once the 10m has triggered a setup will I zoom to the 3m to get a sniper entry.

Incredible day that almost brought me back to green for the week given my emotional errors Monday and Tuesday.