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28052019 Tuesday — A lot of A/D going on

28052019 Tuesday — A lot of A/D going on

28052019 Tues­day — A lot of A/D going on

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
      • Skip a meal
  • How do you feel?
    • I feel good. Slept fair­ly enough.
  • How would you rate it (1–5)?
    • 5

Mar­ket Prep

Intra­day Fundamentals

  • API report
    • Next release Wednes­day, May 29th, 2019
  • EIA report
    • Next release Thurs­day, May 30th, 2019

Intra­day Tech­ni­cal Analysis

  • HTF
    • Define con­text
      • Where were the overnight highs and lows and PVA?
        • High 59.504
        • PVAH 58.725
        • PPOC 58.415
        • PVAL 58.243
        • Low 58.141
      • Where is the LIS?
        • Prev High area
      • What didn’t happen?
        • We didn’t drop to bot­tom of the HTF KC, pos­si­ble HTF reversal
      • 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?
          • HTF R still in effect
  • TTF
    • What trade loca­tions among this struc­ture would l like to get involved in that will offer me the best R/R opportunities?
      • Prev High CAS / HTF UT
    • What has the Asian Ses­sion printed?
      • HTF show­ing some A/D above UKC, TTF R in effect 

Trade Idea (Not much clarity)

  • Hypo 1 Long
    • HTF UT
    • Entry around 59.25
    • Tar­gets 60.25, 61.05
  • Hypo 2 Short
    • Entry around 59.25
    • Tar­gets 59.05, 58.75, 58.50

My goals for the day (Dai­ly Report Card)

  • Define win­ning
    • Have patience in only tak­ing A+ (TTF TC) and A (TTF NT) setups to build a track record to ana­lyze later

Read­ing the Tape

  • What is printing? 
    • 16:05
      • Pos­si­ble TTF TC oppor­tu­ni­ty but we dropped to 200MA so am not too cer­tain. Gonna wait for LTF50MA + PB for pos­si­ble entry.
      • Spread is still wide at 48/49
    • 16:35
      • Can’t make up what’s going on so I think there’s some­thing going on on the HHTF so I will stay out until clar­i­ty sets in.
    • 17:05
      • Lot of wicks between TTF50MA and 200MA and then what looked like a pos­si­ble TTF200MABD we shot up instead. Gonna stay out until more clar­i­ty sets in. 
      • Pos­si­ble LTF R going on
    • 17:35
      • HTF R and TTF R in effect but a lot of A/D going on still so not much clarity
    • 18:05
      • Touched TTFUKC and look­ing to reverse
    • 18:35
      • Dropped to TTF50MA and made a PB to LTF50MA indi­cat­ing a pos­si­ble con­tin­u­a­tion to the DT BD from TTF50MA and 200MA
    • 19:05
      • No con­tin­u­a­tion on the DT

Trade Man­age­ment

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

  • T1
    • Why? What do I see?
      • HTF
        • HTF R drop top 50MA
      • TTF
        • TTF D TC
        • Entry 2 at 58.995
      • LTF
        • LTF50MABD + PB
    • SL
      • 59.071
    • TP
      • 58.826
    • Trade Man­age­ment
      • Cov­ered at 59.013 because price didn’t drop and reversed on high momen­tum. Glad I did since price end­ed up cross­ing back up over TTF50MA.
  • T2
    • Why? What do I see?
      • HTF
        • HTF R above VWAP
      • TTF
        • TTF R 200MAPB
        • Entry 2 @ 59.045
      • LTF
        • LTF D TC
    • SL
      • 59.156
    • TP
      • 58.886
    • Trade Man­age­ment
      • SO @ 59.162
  • T3
    • Why? What do I see?
      • HTF
        • HTF R
      • TTF
        • TTF R 50MAPB
        • Entry 2 @ 59.136
      • LTF
        • LTF R 50MACAR
    • SL
      • 59.163
    • TP
      • 58.906
    • Trade Man­age­ment
      • Cov­ered in prof­it @ 59.071 @ LTF LKC

Dai­ly Report Card

Trade Idea (Not much clarity)

  • Hypo 1 Long
    • HTF UT
    • Entry around 59.25
    • Tar­gets 60.25, 61.05
  • Hypo 2 Short
    • Entry around 59.25
    • Tar­gets 59.05, 58.75, 58.50

Date:5/28/2019Week­ly GoalExe­cute A+ (TTF TC) / A setups (TTF NT)

Com­bined Score80

Process Report Card (10 each)
Per­for­mance Report Card (10 each)

8Ses­sion PECS90%9Real-time analy­sis

6Hypos1/110Setups Iden­ti­fied

10Trad­ing the process1/110Setups tak­en

10Dai­ly review10Erro­neous Entries

7Progress tow. week­ly goal010Erro­neous Exits


  • Week­ly Goal
    • Have patience in only tak­ing A+ (TTF TC) and A (TTF NT) setups to build a track record to ana­lyze later
      • Did well here but at the same time try­ing out exper­i­men­tal trades with small­er sizing
  • Review
    • Took one set­up but got in too late because price action that pre­ced­ed was not mak­ing me feel con­fi­dent in tak­ing the set­up so wait­ed for anoth­er point of con­fir­ma­tion before get­ting in. Since I wasn’t as con­fi­dent in the move I put on ⅕ of my nor­mal siz­ing. Scratched it because of high momen­tum on reversal. 
    • The next 2 trades were experimental
      • I have been play­ing around with this set­up when­ev­er the HTF is in A/D so took 2 trades on ⅕ on nor­mal siz­ing as well. One got stopped out the oth­er hit my tar­get. I will replay this and write it up into my playbook.

Entry ErrorsExit ErrorsType TradeMis­takes (if any)Siz­ingHit Tar­get?Rea­son to coverProb­lemPro­posed solution
10TTF TCGot in too late2NOhigh momen­tum on rever­sal so scratched itThe rea­son I got in too late is because of the long wicked can­dles before my set­up came into play. Because of this I took a small­er than nor­mal posi­tion and wait­ed for a bit more con­fir­ma­tion. Then scratched it as soon as it went against me.When there’s a messy chart it means prob­a­bly that some­thing is going on on the HHTF and thus be more care­ful. Stay out until there is more clar­i­ty and trade smaller.
testtestTTF R 200MAPB / LTF R D TC-2SOStopped outSO @ TTF50MA-
testtestTTF R 50MAPB / LTF R 50MACAR-2YESHit tar­get--
  • How accu­rate was my assess­ment of mar­ket context?
    • Hypo 2 60% — already stat­ed that I had less clar­i­ty today
    • Real-time analy­sis I did OK. Even though I saw that ‘some­thing was up’ in the mar­ket today I choose to take my exper­i­men­tal trades and I feel that I could have done it a lit­tle bet­ter. I am still learn­ing how to trade in these sit­u­a­tions so I will have to prac­tice more. I will replay the ses­sion and take notes for my PB.
  • How well did I man­age my phys­i­cal, emo­tion­al and cog­ni­tive states?
    • Felt tired even though I slept enough. Will track more in my jour­nal. The rest was good. 
  • What’s one thing you learned today?
    • Con­firm­ing more and more on what mar­ket struc­ture works for my setups and which not. Even though the lat­ter I have a set­up that looks promis­ing but still needs some work. 
  • What’s one thing I need to do more often?
    • Have fun experimenting.
  • What’s one thing I need to do less often?
    • Think­ing that I need to be trad­ing when the mar­ket is obvi­ous­ly show­ing me that my set­up won’t work here. I feel now that I am more con­fi­dent in my setups they don’t show up (any)more. I just need to be patient and in the mean­while exper­i­ment with my TTF R setups.


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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