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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.
Markets Covered: ES, YM, NQ, CL, GC, 6E, EMD, 6J, ZS, NG, PL, ZN
- NQ – Leading Index for the Session
- NQ closes out Monday open gap with a 146 point drop.
- FANG stocks take a hit
- ES closes outside GAP and YM remains strong to the upside.
- Market internal AD lines show resistance and range bound session.
- Crude remains quiet.
- GC – Solid trending session.
- Used a 15 tick flex renko; Best to take AM ticks and not trade the PM session.
- Overall trend of the day: MIXED (NQ: Down; ES/YM: Up)
Charts of Interest
- GC; Solid TRENDing price action.
- 3 index pop; While the NQ was holding back, YM/ES prevailed to the upside.
- 3 index drop; NQ prevails to the short setup from the chart above and brings the ES and trailing YM with it.
- NQ; Trend of the session
- NQ; Price action turnaround as the AD line reveals resistance @-45
- NQ; Murray Math chart with double resistance and the AD line seen in the next chart as price action not able to push higher.
- NQ; As described above – AD line resistance @ the Pivot
- NQ; Final move to the short as price action stalls at the Murray Math oversold level.
……view additional charts posted intraday via Twitter
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.
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.