When levels are close together like this, trading is just guesswork – it is impossible to have an edge in these conditions because it’s there’s no way of knowing which level is most likely to take control, so there is no one outcome that is more probable than another.

Valid setups lost in these conditions – but I lost more than that because I reacted. The valid setups were:

  • Sell ex-gap close at 11035 – the high of the next bar was 11045 so that would most likely have been stopped – outcome -1R
  • Buy the 3Min Bolli at SUP 1 – outcome -1R
  • Sell a restest of the 50MA using the impulisve-Corrective structure – outcome -1R

What I did

10:00 Bought 11037 – for a reversal at low – outcome -1R
10:03 Bought 11030 – for a reversal off CBOS (and reacting to the previous loss) – outcome -1R
10:04 Sold 11022 – as a break of the 50MA – outcome -1R
10:05 Bought 11026 – because it was a 3Min Bolli – outcome -1R
10:09 Sold break of 50MA (this got to 1:1) – outcome -1R
10:17 Sold 11012 for no reason (because I thought I’d missed a setup) – outcome -1R
10:18 Sold 11018 for no reason – (because I thought I’d missed a setup) – outcome -1R
10:28 Bought 11029 – as retest of level, but before level had been retested – outcome -1R

TOTAL LOSS = 8R…. system loss was 3R

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