10062019 Monday – Trade Plan

10062019 Monday – Trade Plan

Terminology (partially made up by yours truly)

• PA = Price Action
• BO = Break Out
• BD = Break Down
• CAR = Confirm As Resistance
• CAS = Confirm As Support
• UKC = Upper Keltner Channel
• LKC = Lower Keltner Channel
• TV = Tick Volume
• WPP = Weekly Pivot Point
• DPP = Daily Pivot Point
• DR = Daily Resistance (pivot)
• DS = Daily Support (pivot)
• WR = Weekly Resistance (pivot)
• WS = Weekly Support (pivot)
• HL = Higher Low
• HH = Higher High
• LH = Lower High
• LL = Lower Low
• SD = Standard Deviation
• VWAP = Volume Weighted Average Price
• AS = Asian Session
• LS = London Session (EU)
• NY = New York Session (US)
• R/R = Risk to Reward
• M2M = Move to Move
• T2H = Trade to Hold
• DT = DownTrend
• UT = UpTrend
• LTF = Lower Time Frame
• TTF = Trading Time Frame
• HTF = Higher Time Frame
• Hypo = HYPOthetical

Health review (for the past week)

• Weekly goal
  • Eat less carbs. Have been overdoing it lately. Need to watch it.
• How do you feel?
  • I feel good.
• How would you rate it (1-5)?
  • 4

Market Prep

Intraday Fundamentals

• API report
  • Tuesday, June 11th
• EIA report
  • Wednesday, June 12th

Intraday Technical Analysis

• HTF
  • Define context
    • Where were the overnight highs and lows and PVA?
      • High 54.395
      • PVAH 53.848
      • PPOC 53.351
      • PVAL 53.082
      • Low 52.670
    • Where is the LIS?
      • PVAH
    • What didn’t happen?
      • No HTF200MABD
    • Dialling in on opportunities
      • Is there a shift in value/excess migration? What is the current market condition? Are we trending, balancing/range bound? Where are we in the trend range axis?
        • Imbalance up but with the gap up beginning of the day we returned back into the KC and might have a short-term reversal

• TTF
  • What trade locations among this structure would l like to get involved in that will offer me the best R/R opportunities?
  • What has the Asian Session printed?
    • Gap up + gap fill

Trade Idea (less clarity)

• Hypo 1 Long
  • HTF U TC @ VWAP
  • Entry around 54.50
  • Targets 54.80
• Hypo 2 Short
  • HTF U TT
  • Entry around 54.30
  • Targets 54.10, 53.90
• Hypo 3 Rotational 54.15 – 54.80

My goals for the day (Daily Report Card)

• Define winning
  • Double sizing but still have patience in only taking A+ (TTF TC) and A (TTF NT) setups to build a track record to analyze later but be open to experiment with TTF R setups

Reading the Tape

• What is printing?
  • 16:05
    • Move to TTF UKC / HTFUKCCAR, possible TTF R in effect, spread is wider (44), PA faster than normal
  • 16:35
    • TTF A/R going on just below TTF200MA
  • 17:05
    • Messy PA @ below TTF200MA, there was a fake out first but looking like it still might drop although TTF R still in effect
  • 17:35
    • Still no drop but we’re still below TTF200MA in TTF R mode nearing HTF50MA could be buyers coming in
  • 18:05
    • Not much going on yet. A/D still full in process just above HTF50MA
  • 18:35
    • Still nothing going on
  • 19:05
    • Still nothing going on

Daily Report Card

Trade Idea (less clarity)

• Hypo 1 Long
  • HTF U TC @ VWAP
  • Entry around 54.50
  • Targets 54.80
• Hypo 2 Short
  • HTF U TT
  • Entry around 54.30
  • Targets 54.10, 53.90
• Hypo 3 Rotational 54.15 – 54.80

	Date:	6/10/2019	Weekly Goal	Execute A+ (TTF TC) / A setups (TTF NT)
	Combined Score	97
	Process Report Card (10 each)		Performance Report Card (10 each)
	9	Session PECS	100%	10	Real-time analysis
	8	Hypos	0/0	10	Setups Identified (TEST)
	10	Trading the process	0/0	10	Setups taken
	10	Daily review	0	10	Erroneous Entries
	10	Progress tow. weekly goal	0	10	Erroneous Exits
	47	Total		50

• Weekly Goal
  • Size up and still only take A+ (TTF TC) and A (TTF NT) setups to build a track record to analyze later but be open to experiment with TTF R setups
• Review
  • No trades taken today because there was no opportunity for me today.

Entry Errors	Exit Errors	Type Trade	Sizing	Hit Target?	Reason to cover	Problem	Proposed solution	Action
–	–	–	–	–	–	–	–	–	–

• How accurate was my assessment of market context?
  • Hypo 3 – 80%
    • Getting a bit better with the rotational hypos but still not there.
  • Did well with real-time analysis. Noticed PA acting differently so thought to be extra cautious.
• How well did I manage my physical, emotional and cognitive states?
  • Although a bit tired and not sharp I did well to not make any mistakes trading live.
• What’s one thing you learned today?
  • Market context is king.
• What’s one thing I need to do more often?
  • Be patient for the A/A+ setups. Anything less is not worth it.
• What’s one thing I need to do less often?
  • Think I’m there. Be humble and keep grinding.

Feedback?

Any questions or feedback you might have please feel free to leave a comment or contact me directly.