MES1! Long — 2025-02-07
The objective is not to grade the P&L. It is to grade the decision.
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Trade Review
Please review my next trade
2/7/25 $MES so Friday was a bit difficult trading where there was a lot of volatility, and there were liquidity sweeps on both sides of the market. My expectation going into the market was meant and also there was a complete reversal of price action. The midnight opening candle range was where price action reacted off of initially going into the daily opening price and I saw that by, but I didn’t take it and that should’ve been the only trade that I took that day. The selloff came at the midpoint of a NWOG(M) and that was not clear to take that setup so this would have been a trade that you would’ve just had to jump in or let it go.
The buy setup was clear on the 5m chart and below where we had a huge week to the upside and measuring the upside wick from open to the high. There was also a +CHoCH and +FVG setup on the 1m chart to push us above the PDH and into the NWOG(M) from 1/24/25.
Entry: 6101.50, 6103.75 SL:6095.50 Target: 6115, 6119.75 Adjusted SL: none
The buy setup that I actually took was based off of the midnight opening candle range after the sell off we rejected the range and I used the wick candle as my entry and stop loss. I immediately went into the red and lost this trade. At this point news had been released about tariffs, and I didn’t react to that news well, as it came out of the blue with the opposing reaction to the positive news on NFP release. With the bullish news on NFP that added to the confirmation of my bias but the tariff announcement irradiated the bullish sentiment and heavily bearish afterwards. There were no announcements and initially my trade bias was bullish at the time with the expectations that we would trade into the gap and then reject the middle of the gap and then range in between the gap low to the gap midpoint, and that wasn’t the case we sold off from the midpoint of the gap and that was the entire day we sold off the rest of the day without having any real clean entries. We returned to one -FVG but not the one that triggered the move down at that point I’d already taken my loss and I was comfortable with the loss that I had taken, and I chose not to enter into a trade opposite of my initial bias without a clear confirmation of the next set up and -CHOCH.
Entry: 6103 SL: 6093 Target: 6115, 6119.75 Adjusted SL: none
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