Weekly Wrap (#01.22)

  • Weekly number recap out of 27 potential setups this week
  • Trend of the week – 1524 Tick move
  • Weekly Wrap – MML trend on the charts
  • The last word on what should be taught in schools
  • Joining our community of like minded traders
  • Celebrating this weekend: Make up your Mind Day

Attempting to determine which way a market will go on any given day is merely a guess in which some will get it right and some will get it wrong. Being prepared in either direction intraday for the strongest probable trend is by plotting your longer term charts and utilizing an indicator of choice on the lower time frame to identify the setup and remaining in the trade that much longer. Any chart posted here is merely a snapshot of current technical momentum and not indicative of where price may lead forward.   


Looking back one WEEK @ a time…..

Good trading is always going back over the trading week 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 currently trading: MNQ, MCL

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


By the Numbers…..

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This week I compared the 5 bar vs the 6 bar setup which in the end, several of the 5 bar setups worked out to be 6 bar setups as well. Next week I will return to keeping stats with only the 6 bars.

With only 4 weeks of stats on this updated T3 strategy, the discipline and patience is paying off. Instead of spewing out the numbers that you can read and analyze here on your own, it comes down to knowing how to identify the entry and what is the exit strategy. Good trending sessions can make stats look good, however even in trending sessions, it keeps us out of false setups in the chop. We don’t catch every trend. Just the ones that we are looking for.

Personal Trading Stats: 92.86% on the updated entries

*Disclaimer: Daily/Weekly stats are complied on a 24 hour market. It does not represent the actual trades taken and if a loss occurred. Personal trading stats are shared intraday with members of the TradingFibz community via slack and here in the blog.


Trend of Week – 1524 Tick Move

1.4.22

Trend Highlights

Setups reflective of highest probability trend based on price action crossover of the T3 moving average in sync with momentum indicators and using 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 screen share room and randomly posted online.

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When looking at the MML’s we don’t predict what will come next. We use it as a map of orientation. Just like driving in traffic, our GPS may have the layout of what is ahead but will reroute us based on traffic conditions to eventually get us to our destination.

Same with the market. The MML structure is there and the intraday smaller time frame guides us around to our final destination. As posted here on 12.31, the case was made for upside as well as downside. If downside were to occur, this is what we would look for. Down to 15625 with a pause at the Major S/R which did occur on 1.03.

12.31.21

With one week of downside selling, and several MML resets, we made it the final destination of support that was on the map at 15625 on 12.31 as seen below.

1.7.22

I couldn’t predict that this would be our final target as intraday setups are guided in both directions. When the momentum intraday is the driving force in a particular direction, the case can be made as mentioned on the 31st of December, that our final level we hope to reach is at the MML support. So where do we go from here?

No question that the volatility is to remain. By the MML’s, we have downside support on the 24hr levels. This supports the theory of more downside. If price action is able to find that support, bounce off and break our current support levels, or just lift from here, we can see a move back up to Major S/R as two of our longer MML levels are in sync. As always, MML’s will adjust with momentum and will reassess as the market moves ahead into week two of 2022.

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The Last Word….my 3 sense

An interesting tweet that I responded to today which posed the question of what schools should be teaching. You may find the tweet here.

This reminded me of a video I just recently viewed with John Stosell interviewing Mike Rowe on several topics that I thought well addressed what is not being taught to student’s these days. 

Updated Template with ALL in Sync signal

If you are interested in not spending a lot on how to trade through the University of Trading and this is of interest to you, please join us daily in the trading room with access to the chartbook templates and trading with like minded traders. Information may be found here.


Celebrating This Weekend

  • National English Toffee Day
  • National Apricot Day
  • No Pants Subway Ride Day

Information Credit: NationalDayToday


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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