Trading Session Recap (Week 45; Day 2)

Trading or investing in stocks & commodities is a high risk activity. Any action you choose to take in the markets is totally your own responsibility. You are recommended to make appropriate inquiries and seek appropriate advise before sending money, incurring any expenses, acting on recommendations or entering into any commitment in relation to any reference published here. Past performance is not necessarily indicative of future results. 


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 setup is the objective. It’s your patience and discipline that will continue to grow as a trader when you implement such tools.

Markets:  YM, ES, NQ (RTH)

*Results will vary for each individual trader based on market entry/exit and/or live versus simulated environment. 


Session Highlights

  • Relentless TREND continues off of Monday’s price action
  • Major open gap opened on Monday’s open on major indices.
  • PM setups on indices strongest on Es/NQ
    • Take AM trend, pocket ticks and sit out scalp PM session
  • CL flat session
  • Pre-election uncertainty drawing to an end.
  • Price action back above cloud on 4hr charts
    • NQ at the 144ema
  • YM above daily 50; ES/NQ stall at 50ma
  • Be ready for  election results ALGO dominance on the technical setups.
    • Higher time frame recommended.
  • Overall trend of the day: UPTREND (POP, DROP and CHOP)

Charts of Interest

  • ES; Monday Session – strong trending session.

11-07-16-es-session

  • GC; Volatility at it’s best with swings in both directions.

11-08-16-gc-am-trend-2

  • AM 3 index pop with HA bars above the cloud

11-08-16-3-index-pop

  • NQ; Price action as seen on the above chart, stalls for a pullback at the AD line on the right reaches a key level. Exit trade or hold on for the trend to continue?

11-08-16-nq-reject-at-ad-line

  • NQ; Hold seemed to be the answer as price action on ALL indices continued for a second surge.

11-08-16-3-index-second-surge

  • NQ; Total move from setup above the cloud and HA breakout, pullback and up to the daily 50ma.

11-08-16-nq-to-the-50ma

  • NQ; Multiple views of TREND in a variety of different charts. 

2016-11-08-nq-trend-study

  • NQ; With the drive up, do we go higher or where is the probability that a pullback looks good? Watch the AD line at the outlier as Level 75 holds and price pulls back to hold.

11-08-16-nq-resistance-at-ad-line

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……view additional charts posted intraday via Twitter

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Setup Highlights

Setups reflective of highest probability setups based on price action crossover of T3-50 and 50/144ema cloud with 1 of 4 possible trade management setups and exit strategies. Market order entries/exit will vary whether simulated or live for each trader. All setups are called out on real time charts in a screenshare room and randomly posted online.

NQ

AM Session

11-07-16-nq-am-session

PM Session

11-07-16-nq-pm-session

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ES

AM Session

11-08-16-es-am-session

PM Session

11-08-16-es-pm-session

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YM

AM Session

11-08-16-ym-am-session

PM Session

11-08-16-ym-pm-session


Government Required Risk Disclaimer and Disclosure Statement

CFTC RULE 4.41 – HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING. ALSO, SINCE THE TRADES HAVE NOT BEEN EXECUTED, THE RESULTS MAY HAVE UNDER-OR-OVER COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFIT OR LOSSES SIMILAR TO THOSE SHOWN.

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