Trading Session Recap (Week 47; Day 1)

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

  • Trending AM session; PM snoozer
  • No major econ data release
  • Draghi speech for continued support of ECB
  • CL gaps up on Friday session.
    • More rumors of OPEC deals
  • NQ/ES push higher on lower volume
    • COMP at all time highs (see chart below)
  • PM session closes higher in last 15m
  • Holiday week
  • Overall trend of the day:
    • Global: CHOP
    • US Session: UPTREND

Charts of Interest

NQ; Market open, candles in TREND. Core setup.

11-21-16-nq-setup-1

NQ; Leading index on market open seen above only to be taken back as seen below. Stick to the trade management and you won’t question whether price action will retreat or go higher.

11-21-16-nq-back-down

NQ; Once price action retraced and back upside with the Murray chart for levels of interest.

11-21-16-nq-reject-at-murray-level

COMP/Nasdaq Composite; At all time highs with serious open gaps below.

2016-11-21-comp-open-gaps

 

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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

11-21-16-nq-full-session

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ES

FULL Session

11-21-16-es-full-session

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YM

AM Session

11-21-16-ym-am-session

PM Session

11-21-16-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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