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29072019 Monday — Trade Plan & Journal

29072019 Monday — Trade Plan & Journal

29072019 Mon­day — Trade Plan & Journal

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
  • R = Range
  • LTF = Low­er Time Frame
  • TTF = Trad­ing Time Frame
  • HTF = High­er Time Frame
  • HHTF = High­er High Time Frame
  • Hypo = HYPOthetical
  • AD = Accu­mu­la­tion Distribution

Health review

  • Week­ly goal
    • Per­form health plan and dai­ly tasks
  • How do you feel? Have you recent­ly had a break of dai­ly rou­tine (like a trip)? Did you have 2 (or more) nights of insuf­fi­cient sleep?
    • I feel good. I slept a lot to try and counter the lack of qual­i­ty sleep over the weekend.
  • How would you rate it (1–5)? 1/2 = don’t trade 3= quar­ter posi­tion (1st = 10, 2nd = 2) 4= half posi­tion (1st = 25, 2nd = 5) 5= full posi­tion (1st = 50, 2nd = 10)
    • 5

Mar­ket Prep

Intraweek Fun­da­men­tals

  • API report
    • Tomor­row
  • EIA report
    • Wednes­day

Intra­day Tech­ni­cal Analysis

  • HHTF
    • HHTF not quite in R but hit­ting over­bought over­sold areas pos­si­ble AD going on on the even high­er time frames. PA is just below the 50MA area so nor­mal­ly would sug­gest a short bias how­ev­er with a lot of AD going on in pre­vi­ous days as part of the HHTF D TT back into the KC I believe that it is pos­si­ble this down­ward bias is used for more AD and could see a move up instead. In short, no clear bias on the HHTF at the moment but would give a small nod to the upside from here.
    • Also small PA and no clear rejec­tion of 50MA enhances a long bias but since this time frame is too far away, we might see more down­side on the low­er time frames first.
  • HTF
    • Lev­els
      • Prev. High 56.584
      • PVAH 56.398
      • PPOC 56.216
      • PVAL 55.997
      • Prev. Low 55.702
    • HTF R seems to be in effect and PA just below VWAP so would have to wait for a move to either HTF LKC or UKC. No clear bias yet. 
  • TTF
    • What has the Asian Ses­sion printed?
      • AS has trad­ed into a HTF R squeeze with a lot of AD at the 2nd touch of TTF LKC just below 50 and 200MA. Call for BO?
    • What trade loca­tions among this struc­ture would l like to get involved in that will offer me the best R/R opportunities?
      • HHTF 50MABO attempt

Trade Idea

  • Hypo 1 Long
    • HTF R LKCCAS
    • Entry around 55.90
    • Tar­gets 56.20, 56.35, extend­ed 56.55
  • Hypo 2 Short
    • TTF200MABOF
    • Entry around 56.10
    • Tar­gets 55.85
  • Hypo 3 Long
    • TTF200MABO
    • Entry around 56.15
    • Tar­gets 56.35, 56.50

My goals for the day (Dai­ly Report Card)

  • Define win­ning
    • Only trade A/A+ trade ideas
    • For­ward test exper­i­men­tal trades

Read­ing the Tape

  • What is printing? 
    • 15:05
      • HHTF
        • Small PA below VWAP could be signs of AD
      • HTF
        • PA around 50MA look­ing for poten­tial LKCCAS
      • TTF
        • Lots of TTF R AD going on before Lon­don open which looks like bull­ish AD.
      • Oppor­tu­ni­ty (if any)
        • Still unclear but a run down to HTF R LKCCAS could be a good nar­ra­tive for a poten­tial setup
    • 15:35
      • HHTF
      • HTF
      • TTF
        • TTF R AD at TTF LKC pos­si­ble CAS into BO
      • Oppor­tu­ni­ty (if any)
        • TTF200MABO(F)
        • Wait for PB to enter
    • 16:05
      • HHTF
        • Mov­ing away from 50MA per­haps a move down to 2.0 SD
      • HTF
        • Move from 2.0 SD to 50MACAR
      • TTF
        • TTF200MABO attempt into CAR which result­ed in big­ger AD pat­terns on TTF
      • Oppor­tu­ni­ty (if any)
        • Pos­si­ble HTF R 50MABO
    • 16:35
      • HHTF
      • HTF
        • HTF R Squeeze AD going on no clear sign of mar­ket direc­tion yet
      • TTF
        • TTF R AD going on after we reject­ed 200MA once but might still set up for a BO
          • Gonna wait for a CAS or BO
            • BO trade the PB
            • CAS look for pos­si­ble entry short how­ev­er might be too late for entry. Still learn­ing more about the HTF R 50MA area nar­ra­tive and how it trans­lates into my TTF.
      • Oppor­tu­ni­ty (if any)
        • TTF R 200MABO
        • TTF R UKCCAR
    • 17:05
      • HHTF
      • HTF
        • HTF R 50MABO to 200MA
      • TTF
        • TTF R 200MA BO to over­bought posi­tion how­ev­er move could be strong and see con­tin­u­a­tion to the move.
      • Oppor­tu­ni­ty (if any)
        • PB to TTF UKC how­ev­er might not have enough room left for the move to hap­pen though. The big­ger move is to be had with a rever­sal at this point. I’m gonna wait for con­fir­ma­tion on the HTF first. And or a LTF VWAPBD + PB.
    • 17:35
      • HHTF
      • HTF
        • HTF200MACAR but per­haps only for the short-term cause we might have a 50MABO + PB going on at the moment
      • TTF
        • TTF R Over­bought is pos­si­bly in the mak­ing. Took a short at the LTF U TT VWAPBD + PB, tar­gets TTF200MA, TTF LKC
      • Oppor­tu­ni­ty (if any)
        • TTF R Over­bought still valid
    • 18:05
      • HHTF
      • HTF
        • PA above 2.0 SD but no 200MABO yet how­ev­er still look­ing likely
      • TTF
        • TTF R Over­bought has not reversed yet and PA is slow­ly creep­ing up and is look­ing more bull­ish and am expect­ing to get stopped out
      • Oppor­tu­ni­ty (if any)
        • HTF R 50MABO + PB to UKC (best entry missed)
          • As I’m writ­ing this a big drop to HTF 2.0 SD again +breach more biased towards short side
    • 18:35
      • HHTF
      • HTF
        • HTF R 200MACAR after 50MABO failed to con­tin­ue to UKC
      • TTF
        • TTF R Overbought
      • Oppor­tu­ni­ty (if any)
        • Unclear yet
    • 19:05
      • HHTF
        • Small PA lat­er­al move above 1.0 SD
      • HTF
        • HTF R squeeze — momen­tum move 50MABO to failed con­tin­u­a­tion and PA dropped back to 2.0 SD on the down­side. HTF R VWAP bound.
      • TTF
        • TTF R Over­bought move down to LKC but no signs of con­tin­u­a­tion (yet)
      • Oppor­tu­ni­ty (if any)
        • Gonna sit the rest out but there could be a TTF200MABD + PB to con­tin­ue a move down to HTF LKC
    • 19:35
      • HHTF
      • HTF
        • HTF R squeeze low­er 2.0 SD CAS
      • TTF
        • TTF R LKCCAS into small PA 200MABO to pos­si­bly UKCCAR again
      • Oppor­tu­ni­ty (if any)
        • Unclear 

Dai­ly Report Card





Dai­ly Report Card



Date:7/29/2019



Week­ly GoalExe­cute A+ / A setups



Com­bined Score96



Process Report Card (10 each)

8Ses­sion PECS

9Hypos

10Mar­ket Prep

10Dai­ly review

10Progress tow. week­ly goal

47Total






Per­for­mance Report Card (10 each)
100%9Real-time analy­sis
2/210Setups Iden­ti­fied (inc. TEST)
2/210Setups tak­en
0/210Erro­neous Entries
0/210Erro­neous Exits

49total



  • Week­ly Goal
    • Only trade A/A+ trade ideas
    • For­ward test exper­i­men­tal trades
  • Review
TradeEntry ErrorsExit ErrorsType TradeSiz­ingRea­son to coverProb­lemPro­posed solution
Ses­sion--------
100TTF R UKCCAS10SOStopped Out--
0010SOStopped Out--
200TTF R Overbought10Scratchedscratched after a big bull­ish rejec­tion @ 200MACAS--
  • How accu­rate was my assess­ment of mar­ket context?
    • Hypo 3 — 90%
      • Did OK here
    • Real-time analy­sis — 90%
      • Did OK here.
  • How well did I man­age my phys­i­cal, emo­tion­al and cog­ni­tive states?
    • P: I slept long enough.
    • E: DId well here.
    • CS: Did OK here although I had anoth­er dip after a meal. Scrapped that from my diet dur­ing trading.
  • What’s one thing you learned today?
    • Learned more about mar­ket nar­ra­tive of one of my setups
  • Positive(s)
    • Had the oppor­tu­ni­ty to play a mar­ket sce­nario and learn from it. Even though I lost both setups the mar­ket still went in my favor had I not been stopped out. Logged the set­up and will review for future reference. 
    • Kept a clear head and took trades based on pre­de­ter­mined entries and even though I saw the mar­ket move in my favor didn’t chase it.
  • Negative(s)
    • Should have been more care­ful with my meal of choice.

Feed­back?

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

T3chAddict
t3chaddict@bearmarkettrader.com

Day trader. Tech geek. Sim racer/Pilot.

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