today's trade
A key for the above chart to define the horizontal lines and dots. For further explanation, see this link:
Breadth -
Silly scalpy trades most of the day because I messed up the morning. Your head fills with all sorts of stupid reasons like; "Well I'm not going to buy into these highs", whatever. I'm not here to position trade, I'm here to DAY trade.
The Opening type was easily recognizeable (Open-test-Drive, OTD), and the first three 15-min bars (first two really) were clearly strong and indicative of a breakout. The MO is to, at the very least, get long after those first 3 15-min bars showing strength, and if your position is not positive over the next 30-45min then your premise might be wrong. I scalped more than I should have instead of holding through to the 1pm (Central) hour when you can always expect a market shakeout before the final 45-minutes of the day.
Blue arrows are entries, black are exits. I even attempted a short!? (obviously not jiving, although I did nail the 'top' I ended up scratching the trade when I could have gotten 1.5-points out of it).
Volume profile - trend day (short covering P-shape)
ES with globex
The setups I include on this blog are used in conjunction with the 3/10macd and the criteria I ascribe to it as a way to alert me to an existing condition of price. The key concept to take away from this blog is that I try to anticipate what will happen on the higher time frame by using a faster time frame to trigger the trade setup. I do not trade a "system" I use two indicators to clue me in to price conditions. Please read the Disclaimer located in the sidebar of this site. I can be contacted via email at toddstrade@gmail.com
I am always open to questions, comments, or suggestions on how to improve this blog.
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