27052019 Monday — HTF R — TTF R NT TC 200MABO

27052019 Mon­day — HTF R — TTF R NT TC 200MABO

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
• How do you feel?
  • I feel good. Slept enough ear­ly and enough last night. Feel good. 
• How would you rate it (1–5)?
  • 5

Mar­ket Prep

Intra­day Fundamentals

• API report
  • Next release Thurs­day, May 30th, 2019
• EIA report
  • Weird. On the same day? 
  • Next release Thurs­day, May 30th, 2019

Intra­day Tech­ni­cal Analysis

• HTF
  • Define con­text
    • Where were the overnight highs and lows and PVA?
      • High 59.095
      • PVAH 58.785
      • PPOC 58.564
      • PVAL 58.178
      • Low 57.489
    • Where is the LIS?
      • 57.80 area
    • What didn’t happen?
      • We did not drop fur­ther and we seem to be in a HTF R
    • 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?
        • Bal­anc­ing in HTF R

• TTF
  • What trade loca­tions among this struc­ture would l like to get involved in that will offer me the best R/R opportunities?
    • PPOC CAR / BO
  • What has the Asian Ses­sion printed?
    • TTF DT from HTF UKC to wards LKC indi­cat­ing HTF R in effect

Trade Idea

• Hypo 1 Long
  • TTF200MABO
  • Entry around 58.55
  • Tar­gets 58.70, 58.90
• Hypo 2 Short 
  • TTF200MACAR
  • Entry around 58.45
  • Tar­gets 58.20, 57.90, 57.70
• Hypo 3 Short
  • Prev High CAR
  • Entry around 58.90
  • Tar­gets 58.60

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? 
  • 15:05
    • Pos­si­ble TTF200MACAR / PPOC CAR with dou­ble top, HTF R still in effect, TTF R might go into effect as well
  • 15:35
    • TTF show­ing full-bod­ied can­dles, pos­si­ble A/D, KC nar­row could see a TTF NT
    • Edit: no A/D instead less liq­uid­i­ty (spread is 48/49) because of Memo­r­i­al day + ear­ly close (US), Spring Bank Hol­i­day in UK, 
  • 16:05
    • Mar­ket has not made a move. I will not update this until some­thing happens.
  • 16:35
    • N/A
  • 17:05
    • Crossed TTF50MA on slight­ly high­er momen­tum and then died off again
  • 17:35
    • There was a TTF R TC set­up although not much fol­low-through on the move
  • 18:05
    • HTF TTF and LTF all flat
  • 18:35
    • N/A
  • 19:05
    • Test­ing of TTF200MA pos­si­ble BO
  • 19:35
    • TTF200MABO attempt

Trade Man­age­ment

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

• T1 (2nd account, experimental)
  • Why? What do I see?
    • HTF
      • HTF R 50MABO
    • TTF
      • TTF R TC
      • Long Entry 10 @ 58.61
    • LTF
      • LTF T + PB to TTF50MA 
      • LTFLKCCAS
  • SL
    • 58.44
  • TP
    • 58.85
  • Trade Man­age­ment
    • I feel calm. HTF is show­ing a pos­si­ble move from 50MA to UKC so TP is below that. UKC is at 59.05 area TP is at 58.85
    • NY liq­uid­i­ty might cause trou­ble in a bit though
      • Price just dropped to VWAP again and we might be BD here
      • Last 5 min before NY open
    • Even though I think that I will get stopped out, sell­ers can’t seem to bring price down as well we are still above TTF VWAP

Dai­ly Report Card

Trade Idea

• Hypo 1 Long
  • TTF200MABO
  • Entry around 58.55
  • Tar­gets 58.70, 58.90
• Hypo 2 Short 
  • TTF200MACAR
  • Entry around 58.45
  • Tar­gets 58.20, 57.90, 57.70
• Hypo 3 Short
  • Prev High CAR
  • Entry around 58.90
  • Tar­gets 58.60

	Date:	5/27/2019	Week­ly Goal	Exe­cute A+ (TTF TC) / A setups (TTF NT)
	Com­bined Score	91
	Process Report Card (10 each)		Per­for­mance Report Card (10 each)
	10	Ses­sion PECS	100%	10	Real-time analy­sis
	1	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
	41	Total		50

• Week­ly Goal
  • Only take A+ (TTF TC) and A (TTF NT) setups to build a track record to ana­lyze later. 
• Review
  • Kin­da rushed a bit through my mar­ket prep because of lack of time due to oth­er commitments
  • Almost did not take a trade until very late in the ses­sion. I took a set­up that I have been exper­i­ment­ing with on my 2nd account. It got stopped out although still look­ing as if it will go my way. I will take note of this for my playbook. 

Entry Errors	Exit Errors	Type Trade	Mis­takes (if any)	Siz­ing	Hit Tar­get?	Rea­son to cover	Prob­lem	Pro­posed solution
0	0	-	-	-	-	-	Low Liq­uid­i­ty because of Memo­r­i­al Day hol­i­day + Spring Bank Hol­i­day in UK	PA does­n’t act in a way that is con­ducive for my setups
0	0	TTF R TC (exper­i­men­tal)	-	10	SO	Stopped out	-	-

• How accu­rate was my assess­ment of mar­ket context?
  • Didn’t take into account that today’s is Memo­r­i­al day + Spring Bank Hol­i­day in the UK cause of low liq­uid­i­ty in the mar­ket also con­firmed by the wider than nor­mal spreads. So my Hypos were not good. 
• How well did I man­age my phys­i­cal, emo­tion­al and cog­ni­tive states?
  • Did well here.
• What’s one thing you learned today?
  • When the reports don’t come out on Tues/Wednesday keep in mind that there is a hol­i­day in the week. Remem­ber this as part of your process. 
• What’s one thing I need to do more often?
  • Be patient and let the mar­ket lead no mat­ter how long you have to wait for your set­up to arise. 
• What’s one thing I need to do less often?
  • Can’t think of any­thing now

Feed­back?

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