Trading Session Recap (Week 46; Day 3)

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

  • Globex drop to US pop and chop
  • “Overbought” conditions on ES pullback in Globex session
  • Lower time frame opened up more setups today in the chop.
  • YM – like a dead fish in water today
  • NQ – powerhouse AM move and chop into Murray “Overbought/Resistance” levels
  • CL – News related boost after econ data build in inventory
  • Key is watching the higher time frames and splicing in on range chart
    • Prime example today on the ES (see charts below)
  • No gaps formed or closed
    • Open gap levels of concern downside on ES/YM where NQ already closed
  • Overall trend of the day: 
    • Globex: Downtrend
    • US Session: UpTrend

Charts of Interest

  • ES; Globex – Big Pic on 11.15.16 at key resistance levels

2016-11-15-es-globex

  • ES; follow through on overnight as price action pulled back

2016-11-16-es-big-pic

  • ES; Globex pullback on range chart to keep you in the TREND of higher time frames above.

11-16-16-es-globex

  • NQ; US market open with setup above cloud to the 4hr/144ema level.

11-16-16-nq-setup-1a-to-144

  • NQ; Murray Math – 15m chart to the upper levels as seen on the chart above to the 144ema as well.

2016-11-16-nq-to-overbought

  • NQ; Murray Math – Side by side charts in late AM session with differing time frames showing the same resistance

2016-11-16-nq-to-overbought-2

  • CL; talk about where you would expect price action to drop – eventually it did in PM session

11-16-16-cl-crude-report

  • NQ; PM session – higher time maintained choppy trend, lower time frame offered more setups

11-16-16-nq-pm-session-lower-time-frame

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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

FULL Session

11-16-16-nq-pm-session

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ES

FULL Session

11-16-16-es-pm-session

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YM

FULL Session

11-16-16-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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