Waiting for a setup - Closed

First thing this morning, I made a plan to wait for the 1000hrs numbers to get assimilated, so I have been watching all morning as price declined but didn't enter. I felt frustrated on missing such a large move down, but kept thinking about trading only according to the plan, do didn't make any impulse trades. In the end, nothing really happened with Investor Confidence. But at that time, price was between the turning and standard line on the 10M chart, so I waited for a better setup, as price will do anything when between the lines.

Prices on the 10M chart kept rising to the cloud, spent some time in it, then closed under. I waited for the 10M bar to close, and put in an 8-tick reversal (as 12 would have been way above the cloud), but price moved sharply down. As it continued to make new lows, I moved the sell level down, but after 4 moves, switched to a 4-tick reversal. Filled at 1200hrs: Sld 1 x ZT @ 109’095. Running with 10 tick stop (right or right out) and targeting just above LOD. 

Good sticking to the plan to enter. Now, I will manage the trade according to the plan. I waited for a setup that met my criteria, now it is out of my hands if it works.

Update at 1350hrs: Price closed at top of cloud. I will use 10M PSAR to limit risk instead of just getting out now that price is above cloud on 10M chart. I will move price down until I am at BE+1, and then revisit to see if I continue moving or let it play out.

Update 1500hrs: Watching the price action, and there was a flurry of activity at 1500hrs. Didn't see any numbers supposed to come out, but there were many 200-300-400-500 lots that went through. Will be interesting to see where price goes. As well, my stop is now at BE - 2, so I will let price move a bit to see where it is going. Currently at the bottom of the cloud (which is still bullish as it came from above), but if I get a close below the cloud, I will anticipate prices to go lower. However on the flip side, the cloud is twisted and is now bullish in the future on 10M. Conflicting signals - stick to the plan.

Update 1626hrs: Kept moving PSAR down, and then went outside with Sandy for a bit. Stopped out, and PSAR has now switched to underneath price. At 1626hrs, Bot 1 x ZF@109'082. Out with 1R profit. Prices seem very stagnant - up and down, so I am OK with this. Look to re-enter later.