Tue. 04_09

today's trade

A key for the above chart to define the horizontal lines and dots.  For further explanation, see this link:  

Today's Opening Swing - Open Auction Out of Range (OAOR).   Traded around the ptre-market range midpoint before selling lower

Breadth - neutral to start.  Break-out from zero-line coinciding with price recovering the Open and Opening swing range.

trades - 3 total, two long one short.  Captain Hindsight says that I shouldn't have scaled out of my initial long position, rather I should have added.

SPY with premarket and higher time frame 3/10macd

Volume Profile - Today's 'Day Type' being a Double-Distribution Trend Day.  Buyers supported the confluence of low volume nodes (LVN's).  Value built around a previous High Volume Node (HV) from April 3rd.  The breakout of the IB_high later in the afternoon brought a move back to April 2nd's LVN and beyond while also building value around the 4/02 VPOC.

The current cycle is (obviously) going at a faster rate than our previous cycles, twice as fast actually

Mon 04_08

today's trade

A key for the above chart to define the horizontal lines and dots.  For further explanation, see this link:  

Breadth - Started out neutral/bearish.  Afternoon breakout coinciding with IB_high break.

ES globex - Dash vertical is the market Open.  Top indicator replicates a 15m 3/10macd while the bottom one is a 5min (Two time frames in one).

Volume Profile - The day started out as 'Non-Trend' day (Small IB_range & D-shaped profile) but turned into 'Normal Variation' day (IB_High broken as OTF became active). <- Might have been a Double-Distribution trend day?

Trades - Early, frustrating chop paid off later on

Quite the move we've had here

Important week in determining follow-through or rejection.  For now, the trend is still very much intact

Fri. 04_05

today's trade

A key for the above chart to define the horizontal lines and dots.  For further explanation, see this link:  

breadth- strongly bearish all day, but also Advance/Decline (which of course closely mirrors the S&P) trending higher all day

Took half my long position in the morning for a loss, had I just kept my ATR stop in place the position would have worked itself out.  The 5-min chart is using a 'gapless' 3/10macd.  I prefer to default to this indicator on large gap days.  The up-arrows, representing long trades, indicate entries, not necessarily "triggers" based on the 3/10macd

  

The following volume profile chart is a bit of a screw-up.  I had intended on using red for HighVolumeNodes and Blue for LowVolumeNodes but, as is obvious, I mixed the two up on some instances.  Irregardless, you can figure them out:

The higher time frame, though showing obvious criteria (price in corrective mode) it's not very easy to swing trade.

When shorts are slow to cover and buyers hibernate, it's called a 'Bear' market. This just isn't a Bear market.  Shorts are quick to cover and temporary buyers feed the fuel to that covering.

Thu. 04_04

today's trade

A key for the above chart to define the horizontal lines and dots.  For further explanation, see this link:  

Breadth - neutral to bullish most of the day, strengthening into the close

SPY with premarket

Intraday SPY

Opening Swing and First hour of trade

Neutral Inside day

Updated higher time frame charts from previous post...the bullish development began taking place into the end of day, but there is still the chance of price rolling over bearishly

which way

Looking at the higher timeframe SPY, the daily really can go either way.  The fast line on the 3/10macd can tick up (which would read as continuation on the price chart, or it can tick down and signal further continuation.  When viewing the 65m chart with it (on the right) the fast line on this 3/10 macd can either form an XYZ corrective wave (which would read as 4d-4c) or cross the slow line and turn into 3a (further test higher).  Not much of a clue.

Looking at a slightly faster time frame than the daily, the 130min (3-bars per day) is showing the 2c-2d criteria (not necessarily bearish). While pairing it with the 30min we would be looking for a 3d-3a criteria to trigger a long.

Wed. 04_03

today's trade

A key for the above chart to define the horizontal lines and dots.  For further explanation, see this link:  

Breadth - declined rapidly following the ISM #

Opening swing - I missed a really good short opportunity here 10-minutes into the open

The first hour or so into a trend day is difficult because there is such uncertainty that all support levels are tested for acceptance

Another breakdown from a channel

Daily 2b criteria developing into a larger correction (2c-4c) I would be looking for the 5min to form an XYZ wave (4d-4c continuation)

Tue. 04_02

today's trade
nice bounce off the pre-market midpoint that coincided with a zero-line touch of the Adv/Decl (see below)

A key for the above chart to define the horizontal lines and dots.  For further explanation, see this link:  

breadth (the Advancing/Declining Issues and Up/Down Volume are for the S&P500 only)

Opening swing:  Open Reject Reverse Opening type.  The lows coincided with the previous day's LVN and Friday's POC.  This is a 'fast' chart so to better see the opening swing, for a definition of terms you can look at this site http://www.futurestrader71.com/?page_id=1280 .

I failed to take action on the opening sequence.  Overall not much trading done.

5min SPY with premarket

ES Volume profile: Day type = Neutral Day.
 I got the idea to include this from @eminiplayer ...the idea is not my own, but I thought it would be a good thing to include in a daily wrap-up.  FYI the low of the day was 59.5  the long tail here is due to globex inclusion.

Mon. 04_01

today's trade

A key for the above chart to define the horizontal lines and dots.  For further explanation, see this link:  

5 min ES with globex. Subgraph 1 = 15m 3/10macd, subraph 2 = 5min 3/10macd

SPY 65min showing 2c-2d while 15min showing 3d, typically a long setup (with 15m fast line going green).  Needs above $156.30