Trading Session Recap (Week 48; 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

  • Picture Perfect session with Murray Levels and HA bars to keep you in the TREND
  • Crude continues to chop as OPEC indecision looms
  • Gold in a hold
  • Indices roar up and retreat. YM doesn’t play as well.
  • Market internal Murray levels works like a charm and turns on the hi and lo’s
  • GDP/Corporate Profits reports up.
  • Overall trend of the day:
    • Globlex: Chop
    • US Session: Pop & Drop

Charts of Interest

  • NQ; AM session roll from 1 Murray level lo to hi with HA bars in TREND. 

11-29-16-nq-oversold-to-overbought

  • ES; Seems to be a similar setup as price action bounces off the Murray level lo.

11-29-16-es-off-murray-os-level

  • NQ; Price action continues in TREND with the cloud support. Murray levels reset themselves to a new hi. All charts in sync after the pullback. This is a great example of why I don’t prefer levels for setups but more of a confirmation of when my setup is evident, even if it is a delayed setup from the turnaround on any particular level, be it fib, gaps, pivots or Murray charts.

11-29-16-nq-oversold-to-overbought-reset

  • ES; Big Pic on the left with the 15m and range charts on the right from Murray level lo to hi.

2016-11-29-es-mm-big-pic3

  • NQ; reversal, back in TREND under the T3-50 and cloud after mid-session chop.

11-29-16-nq-reversal-off-high

  • ES; reversal, off the Murray level hi. Setup on the scalp under the cloud.

11-29-16-es-low-to-high

  • NQ; Picture perfect session by the levels and another example of trending bars in sync to keep you in the TREND.

11-29-16-nq-mm-10-7-fr

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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

11-29-16-nq-full-session

 

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ES

FULL Session

11-29-16-es-full-session

 

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YM

FULL Session

11-29-16-ym-full-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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