Day Review: YM 14 Jan 2015

EOD review YM 14 Jan 2015

EOD review YM 14 Jan 2015

Major movement of the day was during pre-open when economic releases were scheduled. 3 setups were observed during RTH. Looking at at hourly chart, I was targeting the major swing low 17177 to be visited.

The first setup was when YM revisiting VWAP, and at the same time it was the first test of supply level around 17404. With price projection, I was targeting 17283 which was also near Globlex session low.

Second trade was a text book trend line retest with confluence of supply zone when YM traded back to developing value area low around 17382 . I expected price to go lower.

Third trade was when intraday downtrend line was broken. Over and under formation at the developing area low around 17281. This was a mean reversion trade, targeted to revisit VWAP.

That’s all for the day.

This series of ‘Day Review” posts will be completed this week, as I have pretty much outlined/showed how I trade index futures. I will still be posting daily review charts under “Chart-Folio” section, but without too much written explanation.

 

Day Review: YM 13 Jan 2015

EOD review YM 13 Jan 2015

EOD review YM 13 Jan 2015

Two reversal setups were observed during Tuesday session.

First trade was the mean reversion setup when the trend line break and over-and-under (or Quasidmodo) pattern was formed at the developing value high which was around 17820. Target was to see YM auctioning back to VWAP, around 17753.

Second trade setup was around 1330 chicago time, after two legs of selling, an accumulation wedge was observed, and Quasi formation also forming around 17460, I was looking at price to auction back to developing value low area and also the spike base, which was around 17520/17530.

That’s all for the Tuesday session.

Day Review: YM 12 Jan 2015

YM12Jan2015.png

3 types of trade setups were found during Monday session:

1. Opening Drive

2. Mean reversion

3. Triple Top reversal

During Pre RTH, YM broke the short term uptrend line and traded at the developing value area low. The rejection of VWAP at the open, gave me a more confidence about the potential selling.

First trade setup was at the break of trend line after VWAP rejection. This was to join the opening drive to the down side.

Another observation of the day is the accumulation wedge formation at the macro demand level 17520. The break of the this wedge and subsequently the Over-&-Under formation signaled the mean reversion trade setup was on table.

After mean reversion objective (VWAP) was achieved, triple-top was formed. With this , I was looking at another test of developing value low.

That’s all I found yesterday.

This series of day reviews are just to show what I am doing during the trading session and also the result of market replay after close. I usually replay the market during Asian session to compare against what I did, What I should have done, or identify any mistakes that I might have made during the live session.

Have a good day.

Day Review: YM 09 Jan 2015

EOD review YM 09 Jan 2015

EOD review YM 09 Jan 2015

NFP Friday, and my trading station decided to act up today. …well what can you do.

Anyway, here is the day review after I replayed the market. No live trade was taken today, this post is meant to review price action of the past session.

Hourly chart at the left, the break of fanning trend lines provided the first clue of potential trend change.  I waited for NFP movement to settle.  The first trade was a mean reversion setup. The break and pull back to the broken support trend line at the developing value area high around 17820 provided a chance to join the rotation into, at least, developing value area low.

Second trade setup appeared at the retest of downtrend and VWAP around 17780. I expected market to start auctioning down from here given the context of the day. Target for this trade was yesterday (RTH) low.

The last setup of the day was a reversal trade around yesterday’s (RTH) low. This came after the break of down trend lines, price consolidation, and over-and-under pattern formed.

That’s all for the NFP Friday.

Day review: YM 08 Jan 2015

EOD YM 08 Jan 2015

EOD YM 08 Jan 2015

There were a couple of entry setups formed during Asian session (if you even watched this market during that hours), otherwise, YM was grinding up in the RTH morning, patience was required to wait for entry opportunity (well, at least for my type of trading).

Looking at the context in hourly chart on the left, the movement during pre-market/Asian session, was the first leg of buying, and with the tight range followed. I expected another leg up during RTH before considering fading this move. So, I was looking for long all morning.

The retest of uptrend line, and also, the day’s developing Value High (not visible in the EOD chart), which was around 17785 provided a long entry with target around 17825.

A potential short which appeared near the end of RTH was around 17827, an Over-and-Under formed at the break of intraday uptrend line. This setup was ignored due to the time of day. (I don’t hold overnight position).

That’s it for me in this pre NFP Thursday session.

Have a safe trading day.

Day review: YM 07 Jan 2015

Here is a quick review of YM for the past day. Since the principle of these trades are closed to Dummy trading , which is “To limit risk by better market timing”, I categorize this series of post under Dummy Collection.

EOD YM 07 Jan 2015

EOD YM 07 Jan 2015

Looking at the context, the hourly chart at the right,  downtrend is clearly observed.  One interesting point is the V-shaped reversal from 17200. I expect the high/source of previous supply 17502 to be tested. I don’t immediately fade these supply , demand zone, instead, I prefer to see price trade into them and decide the next step of action.

There were a couple of trading opportunities appeared in yesterday’s session.

First one was the break and retest of the uptrend line, which was around 17433. This is a mean reversion trade for me. YM traded above current day’s developing value area, and auctioned back into value area of the day. I expected the day’s developing value (VWAP, not shown in the chart) around 17398 to be tested, in other words, I expect YM to, at least, trade into VWAP from here.

Second setup was when YM went back up to yesterday’s RTH high.  A break of uptrend line with over-and-under pattern (credit to Steve W from NoBrainerTrades for this concept) form at this point. A short at the retest 17502, with target back into the day’s developing value area, confluence with 1.618 measured move target around 17460.

Those were two obvious trade opportunities I found yesterday in between ADP release and FOMC meeting minutes.

Have a good day.