Trade the Plan

Over the weekend there were a number of setups that I found and set alerts for.  Usually within the first 30 minutes of the market open I have a decent gauge of how the day is going to go for me.  If they trigger in bunches I will frequently be on the correct side of the order flow for my time frame.  If there are few to none that trigger I know the probabilities are not on my side.

Today there were a couple that triggered then reversed hard.  Additionally stocks I was stalking had break downs from patterns I view as constructive.  

ELF Breakdown

GH Breakdown

When markets move in my favor I've noted that sloppiness can creep in and the daily process gets neglected.  When everything is working, what is there to plan?  Current market structure is a healthy reminder that under every and all circumstances having a clearly defined plan of action mitigates damage, but just as importantly improves consistency during upswings.

Trading Plan