Trading Session Recap (Week 38; Day 3)

Looking at the week behind 1 day @ a time…..

Good trading is always going back over the trading day and reviewing the setups that may or may not have worked out and what kept you in or perhaps took you out too early. Looking for the trend move and remaining in the trade is the objective. It’s your patience and discipline that will continue to grow as a trader when you implement such tools.

Market Traded:  YM, ES, NQ (RTH)

Weekly Total:   18 setups;  898 Ticks NET  ( NQ: 780 | ES: 118 | YM: 0)


Econ Data

Reported as current release and in relation to (previous months data).

  • Japan : Bank of Japan Announcement: UNCHANGED
  • MBA Mortgage Applications: NEGATIVE (decrease)
  • EIA Petroleum Status Report: DRAW (increase in negative)
  • FOMC Meeting Announcement: NO RATE HIKE
    • The FOMC sees little risk that the economy is overheating, giving policy makers the scope to keep rates unchanged

Kenneth Polcari Newsletter Highlights

It’s exhausting!  because if the US economy were nearly as strong and robust as they tell us -then what gives?  Why the hesitation?  Why not just pull the trigger and begin the process of normalization?

CLICK HERE to read more of his daily newsletter and subscribe


Recap/Outlook Video: 

Markets Covered: ES, YM, NQ, CL, GC, 6E, EMD, 6J, ZS, NG, PL, ZN


Daily Stats    

  • 2 Markets.   
  • 10 Setups.  
  • 529 Ticks
    • NQ:  411 Ticks (24/55/53/109/170)
    • ES:    118 Ticks (12/22/24/24/36)

Session Highlights

  • FOMC
  • Overall trend of the day: DROP and POP
  • Fib projections levels hit:
    • DOWNSIDE: NQ; YM; ES
    • UPSIDE: NQ; YM; ES

Overall Trend

ES

9-21-16-es-full-session

  • PM session; watching price action on the higher time frame eliminates much of the noise.

9-21-16-es-post-fomc-higher-timeframe

NQ

9-21-16-nq-full-session

  • PM session; watching price action on the higher time frame eliminates much of the noise.

9-21-16-nq-post-fomc-higher-timeframe

YM

9-21-16-ym-full-session

6J

  • Overnight and Pre-market trend on BOJ monetary announcement
  • Keep in the charts in higher time frame to eliminate noise

9-21-16-6j

PL; NG

  • With no movement on indices in early US session, price action in trend

9-21-16-ng-and-pl

—————————————-

Setup Highlights

First Two Setups

  • ES

9-21-16-es-first-two-setups

  • NQ

9-21-16-nq-first-two-setups

Post FOMC

  • ES

9-21-16-es-post-fomc-setups

  • NQ

9-21-16-nq-setup-post-fomc-entries

  • Last setup with exit based on NVOL-NQ reject and end of session nearing the close

9-21-16-nq-last-setup-exit-with-nvol-2

—————————————-

RTH Closing Charts

  • Volume
    • ABOVE Average: NQ/ES/YM
    • BELOW Average: 
  • Daily 50/200 moving averages 
    • 50
      • ABOVE: NQ
      • BELOW: YM/ES
    • 200
      • ABOVE: NQ/YM/ES
      • BELOW:
  • 4 hour Charts
    • 50/144
      • NQ: UPTREND
      • YM: DOWNTREND 
      • ES: DOWNTREND
    • T3 Moving Averages:
      • NQ: UPTREND
      • YM: UPTREND
      • ES:  UPTREND
    • T3-50: 
      • ABOVE: NQ/YM/ES
      • BELOW:
      • @ SUPPORT: 

9-21-16-big-pic-post-market

Top Row: Daily chart with supporting 50/200ma and volume based on a 60 day moving average

Bottom Row: 4 hour chart. T3 moving averages. 50/144ema. 

———————————

Open Gaps

  • Crude formed new gap today

9-21-16-open-gap-post-market

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