Trading Session Recap (Week 39; Day 1)

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:   3 setups;  70 Ticks NET  ( NQ: 70 | ES: 0 | YM: 0) 


Econ Data

  • New Home Sales: Fallen back by a monthly 7.6 percent in August
  • Dallas Fed Mfg Survey: The general activity index remains in the negative column, at minus 3.7 to extend its long uninterrupted negative streak that started with the 2014 collapse in oil prices.

Kenneth Polcari Newsletter Highlights

Oil,, which got crushed on Friday is making a small rebound this morning, but the concern is that the Mkts are all of a sudden worried that OPEC will fail to agree to any production cuts at all….ARE YOU KIDDING?  Whoever said that they would – other than the media…..remember – OPEC members never committed – there was only speculation. 

CLICK HERE to read more of his daily newsletter and subscribe


Recap/Outlook Video: 

  • Recap next session

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


Daily Stats    

  • 1 Market  
  • 3 Setups.  
  • 70 Ticks
    • NQ: 70  Ticks (24/35/11)

Session Highlights

  • Scalp session at best after opening trend downside
  • Overall trend of the day: Choppy Downtrend
  • Fib projections levels hit:
    • DOWNSIDE: NQ; YM; ES
    • UPSIDE:

Overall Trend

ES

9-26-16-es-full-session

  • AM session scalp setups

es

  • Classic setup with ALL 5 charts in sync and price action under the T3 50/Heikin-OKU cloud.

9-26-16-es-setup

  • Overnight Trending

9-26-16-es-overnight

NQ

9-26-16-nq-full-session

  • Even with the hint of a setup, watching market internals like the NQ AD line on the right can hold you off from getting into a counter trend setup.

9-26-16-nq-no-setup-ad-line

YM

9-26-16-ym-full-session

—————————————-

Setup Highlights

Setup #1 

9-26-16-nq-setups

—————————————-

RTH Closing Charts

  • Volume
    • ABOVE Average: NQ/ES
    • BELOW Average: YM
  • 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: UPTREND
      • ES: UPTREND
    • T3-10 Moving Average:
      • NQ: DOWNTREND
      • YM: DOWNTREND 
      • ES:  DOWNTREND 
    • T3-50: 
      • ABOVE: NQ; ES
      • BELOW: YM
      • @ SUPPORT: 

——————————————————-

  • OVERALL TREND
    • NQ: UPTREND pullback
    • YM:  DOWNTREND
    • ES:   UPTREND pullback

9-26-16-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

  • No gaps closed today
  • NEW GAPS formed on YM/ES/NQ

9-26-16-open-gap-post-market

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