21052019 Tuesday – HHTF200MA area – HTF R 50MABD – TTF200MAPB

21052019 Tuesday – HHTF200MA area – HTF R 50MABD – TTF200MAPB

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
  • Lose 2KG, eat less rice, noodles, etc.
• How do you feel?
  • I feel good. Should have slept a little more though.
• How would you rate it (1-5)?
  • 4

Market Prep

Intraday Fundamentals

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

Intraday Technical Analysis

• HTF
  • Define context
    • Where were the overnight highs and lows and PVA?
      • High 63.945
      • PVAH 63.528
      • PPOC 63.229
      • PVAL 62.785
      • Low 62.591
    • Where is the LIS?
      • PPOC area
    • What didn’t happen?
      • We didn’t BD from Prev Low and market is still balancing
    • 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?
        • Market is balancing between 62.60 and 63.80 areas and has not made a move yet

• TTF
  • What trade locations among this structure would l like to get involved in that will offer me the best R/R opportunities?
    • PPOCBD or PPOCCAS
  • What has the Asian Session printed?
    • TTF kinda flattening following VWAP / 50MA

Trade Idea (not much clarity)

• Hypo 1 Long
  • PVAHBO
  • Entry 63.60
  • Targets 63.85
• Hypo 2 Long
  • PPOCCAS
  • Entry around 63.35
  • Targets 63.75
• Hypo 3 Short
  • PPOCBD
  • Entry around 63.15
  • Targets 62.85

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?
  • 16:35
    • TTF A/D going on between TTF50 and 200MA
  • 17:05
    • TTF200MAPB possible HTF50MABD
  • 17:35
    • Price moved back up to TTF200MA and formed a possible reversal candle at HTF50MA and thus might be reversing

Trade Management

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

• T1 (experimental 2nd account)
  • Why? What do I see?
    • HTF
      • Possible HTF50MABD
    • TTF
      • TTF200MAPB
      • Entry 10 @ 63.32
    • LTF
      • LTF TC @ VWAP LKC area
  • SL
  • TP
  • Trade Management
    • Covered at 63.27 because it didn’t drop fast enough and formed a reversal candle

Daily Report Card

Trade Idea (not much clarity)

• Hypo 1 Long
  • PVAHBO
  • Entry 63.60
  • Targets 63.85
• Hypo 2 Long
  • PPOCCAS
  • Entry around 63.35
  • Targets 63.75
• Hypo 3 Short
  • PPOCBD
  • Entry around 63.15
  • Targets 62.85

	Date:	5/21/2019	Weekly Goal	Execute A+ (TTF TC) / A setups (TTF NT)
	Combined Score	98
	Process Report Card (10 each)		Performance Report Card (10 each)
	9	Session PECS	100%	10	Real-time analysis
	9	Hypos	0/0	10	Setups Identified
	10	Trading the process	0/0	10	Setups taken
	10	Daily review	0	10	Erroneous Entries
	10	Progress toward Weekly goal	0	10	Erroneous Exits
	48	Total		50

• Weekly Goal
  • Only take A+ (TTF TC) and A (TTF NT) setups to build a track record to analyze later
• Review
  • I didn’t see my setups come by but it was a good day to learn

Entry Errors	Exit Errors	Type Trade	Mistakes (if any)	Sizing	Hit Target?	Reason to cover	Problem	Proposed solution
0	0	LTF TC / TTF200MACAR	–	10	–	Didn’t drop fast enough + reversal candle	–	–

• How accurate was my assessment of market context?
  • Hypo 2 – 90%
  • Real-time analysis was on point. I noticed that price wasn’t behaving in a way according to how I take my setups so I was extra cautious. When we had a TTF200MABD I took an experimental trade on my 2nd account but when I realized there was no continuation to the move I quickly covered.
• How well did I manage my physical, emotional and cognitive states?
  • I did well here even though I have not been the fittest these last days. No excuses.
• What’s one thing you learned today?
  • This was something that I had been thinking of before. I had taken over DRC details from others in the community but certain details I always had confusion about so I changed it to detail specifics I am currently tracking. I’ll try this format out for a while and see how this suits me (thanks Edward).
• What’s one thing I need to do more often?
  • Be more patient and gather ‘clues’ to what the market context is trying to tell me before I hop on.
• What’s one thing I need to do less often?
  • Let social life interfere with trading. Apps off.

Feedback?

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