10 Jun 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
- 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?
- Where were the overnight highs and lows and PVA?
- Define context
- 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
- What trade locations among this structure would l like to get involved in that will offer me the best R/R opportunities?
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
- 16:05
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.
- Hypo 3 — 80%
- 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.
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