29 Jul 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.
- Levels
- 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
- What has the Asian Session printed?
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
- HHTF
- 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
- HHTF
- 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.
- Gonna wait for a CAS or BO
- TTF R AD going on after we rejected 200MA once but might still set up for a BO
- 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
- HTF R 50MABO + PB to UKC (best entry missed)
- 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
- HHTF
- 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
- 15:05
Daily Report Card
Daily Report Card | ||
Date: | 7/29/2019 | |
Weekly Goal | Execute A+ / A setups | |
Combined Score | 96 | |
Process Report Card (10 each) | ||
8 | Session PECS | |
9 | Hypos | |
10 | Market Prep | |
10 | Daily review | |
10 | Progress tow. weekly goal | |
47 | Total | |
Performance Report Card (10 each) | ||
100% | 9 | Real-time analysis |
2/2 | 10 | Setups Identified (inc. TEST) |
2/2 | 10 | Setups taken |
0/2 | 10 | Erroneous Entries |
0/2 | 10 | Erroneous Exits |
49 | total | |
- Weekly Goal
- Only trade A/A+ trade ideas
- Forward test experimental trades
- Review
Trade | Entry Errors | Exit Errors | Type Trade | Sizing | Reason to cover | Problem | Proposed solution | |
Session | - | - | - | - | - | - | - | - |
1 | 0 | 0 | TTF R UKCCAS | 10 | SO | Stopped Out | - | - |
0 | 0 | 10 | SO | Stopped Out | - | - | ||
2 | 0 | 0 | TTF R Overbought | 10 | Scratched | scratched 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.
- Hypo 3 — 90%
- 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.
No Comments