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20052019 Monday — HTF Gap Up — TTF DT TC

20052019 Monday — HTF Gap Up — TTF DT TC

20052019 Mon­day — HTF Gap Up — TTF DT TC

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 very lit­tle rice, noo­dles etc.
  • How do you feel?
    • I am tired because didn’t sleep much on the week­end but not too bad. 
  • How would you rate it (1–5)?
    • 3

Mar­ket Prep

Intra­day Fundamentals

  • API report
    • Next release Tues­day, May 21st
  • EIA report
    • Next release Wednes­day, May 22nd

Intra­day Tech­ni­cal Analysis

  • HTF
    • Define con­text
      • Where were the overnight highs and lows and PVA?
        • High 63.803
        • PVAH 63.583
        • PPOC 63.272
        • PVAL 63.068
        • Low 62.682
      • Where is the LIS?
        • PVAH area
      • What didn’t happen?
        • No HTFLKCBO
      • 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?
          • HTF50MABD
  • TTF
    • What trade loca­tions among this struc­ture would l like to get involved in that will offer me the best R/R opportunities?
      • PVAHBD
    • What has the Asian Ses­sion printed?
      • We gapped up but still with­in the HTFUKC and just reen­tered TTF UKC. Pos­si­ble Gap fill?

Trade Idea

  • Hypo 1 Short
    • PVAHBD
      • Enter around 63.50
      • Tar­gets 63.30, 63.10, 62.90
  • Hypo 2 Long
    • Enter around 63.40
    • Tar­gets 63.65, 63.85
  • Hypo 3 Long
    • PVAHCAS Prev High BO
    • Enter around 63.65
    • Tar­gets 63.85, 64.05

My goals for the day (Dai­ly Report Card)

  • Define win­ning
    • Only take A+ (TTF TC) and A (TTF NT) setups to build a track record to ana­lyze later

Read­ing the Tape

  • What is printing? 
    • 16:05
      • A/D bars at the open, pos­si­ble TTF R day
    • 16:35
      • Pos­si­ble TTF200MABD, wait­ing for a TC setup
    • 17:05
      • TTF DT  to PVAL mak­ing a PB look­ing for TC set­up around PPOC level
    • 17:35
      • We are still above PVAL and have not BD or bounced back. Buy­ers seem to be com­ing in
    • 18:05
      • Move back to TTFVWAP with Full-bod­ied can­dles at VWAP indi­cat­ing a pos­si­ble reversal
    • 18:35
      • Drop to HTFLKC and now retest­ing TTF VWAP again. Price slowed down and since we are so close to HTFLKC I will not take anoth­er short
    • 19:05
      • Price returned to TTF VWAP LKC PVAL area pos­si­ble reversal
    • 19:35
      • TTF50MACAR pos­si­ble HTFLKCBD

Trade Man­age­ment

Explain what trade you put on (include price, SL, TP) and what your thoughts are dur­ing the trade

  • T1  (2nd account dur­ing AS)
    • Why? What do I see?
      • HTF
        • Gap up at AS open fol­lowed by LHs
      • TTF
        • Entry 63.81
      • LTF
      • SL
        • TP
          • 63.52
        • Trade Man­age­ment
          • Cov­ered at 63.73

      • T2 (2nd account)
        • Why? What do I see?
          • HTF
            • HTF50MABO after a gap up at AS open
          • TTF
            • Move to TTF 2.0 SD
            • Entry 63.10
          • LTF
            • LTF TC @ 50MA
        • SL
          • TP
            • 62.86
          • Trade Man­age­ment
            • Think­ing it will reverse since there are full-bod­ied can­dles at TTF VWAP and we haven’t made a sig­nif­i­cant LL 
            • Cov­ered at 63.02 in prof­it because we had hit HTFLKC

        Dai­ly Report Card

        Trade Idea

        • Hypo 1 Short
          • PVAHBD
            • Enter around 63.50
            • Tar­gets 63.30, 63.10, 62.90
        • Hypo 2 Long
          • HTF50MACAS PPOCCAS
          • Enter around 63.40
          • Tar­gets 63.65, 63.85
        • Hypo 3 Long
          • PVAHCAS Prev High BO
          • Enter around 63.65
          • Tar­gets 63.85, 64.05

        Date:5/20/2019Week­ly GoalExe­cute A+ (TTF TC) / A setups (TTF NT)
        Com­bined Score77
        Process Report Card (10 each)Per­for­mance Report Card (10 each)
        9Pre-mar­ket routines10Hypos
        7Ses­sion PECS6Real-time analy­sis
        8Trad­ing the process7Trade selec­tion
        10Dai­ly review5Trade Exe­cu­tion & Mgmt.
        8Progress toward Week­ly goal7Risk Adjust­ed Returns

        • Week­ly Goal
          • Only take A+ (TTF TC) and A (TTF NT) setups to build a track record to ana­lyze later
        • Review
          • 3 oppor­tu­ni­ties 2 taken
            • 1) dur­ing AS exper­i­men­tal trade on 2nd account I will incor­po­rate this into my PB for fur­ther study
            • 2) Did not take the set­up — replay event + work into PB
            • 3) TTF TC
        Entry ErrorsExit ErrorsType TradeMis­takes (if any)Siz­ingHit Tar­get?Rea­son to coverProb­lemPro­posed solution
        00(Exper­i­men­tal) Gap Up, short­ed for a pos­si­ble gap fill-10NOCov­ered (in prof­it) because I had to leave my desk and could not active­ly mon­i­tor my position--
        10TTF NTNot tak­en---TTF was show­ing price action in line with A/D behav­ior and KC was widen­ing so I was expect­ing a TTF R play, instead it was a TTF NT and I missed my entry. I did­n’t wan­na chase the mar­ket so I let it go and wait­ed for a TTF TC opportunityI will replay the event and include ‘new’ mar­ket struc­ture into my playbook
        00TTF TC-5YESHTFLKC--

        • How accu­rate was my assess­ment of mar­ket context?
          • HYPO1 100%
        • How well did I man­age my phys­i­cal, emo­tion­al and cog­ni­tive states?
          • I am tired from the week­end and def­i­nite­ly wasn’t as sharp today although I feel I still did well man­ag­ing my thoughts and emotions
        • What’s one thing you learned today?
          • I learned more about the mar­ket struc­ture around a ‘Gap’ day
        • What’s one thing I need to do more often?
          • Keep observ­ing like a scientist
        • What’s one thing I need to do less often?
          • Even though I didn’t do it but I should still warn myself that my 2nd account is not to take trades I won’t on my 1st but it is to take exper­i­men­tal trades accord­ing to my PB.


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


        Day trader. Tech geek. Sim Racing Enthusiast.

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