Futures trading journal - GB

[Gringotts Bank]

The prevailing wisdom is that value gaps (FVGs) will tend to draw the price towards them for rebalancing. That's definitely true in regards to longer TFs.

For smaller TFs, I'm more inclined to view a dense collection of FVGs as being supportive of the trend. And vice versa, meaning that a few thin gaps above the current price are more likely to be rebalanced before a thick collection of them below the price (if long, that is).

eg. in this chart, so long as there's other reasons supporting a long position, the single FVG above the price is more likely to be rebalanced before the large clump below the price.

 

[Gringotts Bank]

Alotta Selling made her appearance at 5pm our time, and it hasn't let up. Unusual selling volumes. Not sure what's up, but that was no time to enter long.

The other Alotta.



This may be a bottoming (7:10pm), but the swings aren't all that high given the drop and volumes that preceded it. I'd prefer the height.of the bottom patterning to be > 1/3 the height of the drop that precedes it. So not buying this yet.

Expecting it to zigzag sideways for a while. Watching the delta volumes, which indicate some buying, but it's not that strong.

 

[Gringotts Bank]

L 4603.5

 

[Gringotts Bank]

L 4603.5

-30

 

[Gringotts Bank]

Very difficult conditions tonight.

L 4592

+35

Nice quick one to scratch back into the black.

 

[Gringotts Bank]

L 4593.5

T = 4602.75 falling asleep on my kb.

 

[Gringotts Bank]

L 4593.5

T = 4602.75 falling asleep on my kb.

+37

Pleased with that, a total of +42 from longs on a crappy night.

 

[Gringotts Bank]

Market seems a bit lackluster, doesn't it?

It's been a huge rally since mid March, and Friday's high volume dump dominates the chart. Might go down to 4529, I think. That's the weekly imbalance level.

Failed TL breakouts are a good way to ID the start of a downtrend. There is one below on 5m chart.
TL is in green (the start of Friday's dump), and its breakout target is marked in pink. It failed to hit the top pink line, and until this rebalances, I'm going to consider it's in a bearish trend.

 

[Gringotts Bank]

S 4582

 

[eskys]

Hope you're right, GB.

Got back just before market closed, and on a whim, bought BBOZ...hope I don't get rolled over this time!

While at the park, a group of us gathered. A guy told us that a homeless man was found deceased in the tent at a corner of the park (tent still there) Strangely enough, I've always had a spooky feeling in that area before this incident. (was reading the paranomal thread this morning very briefly and thought old souls, new souls...how do we explain these things that are not easily explained?)

 

[Gringotts Bank]

Hope you're right, GB.

Got back just before market closed, and on a whim, bought BBOZ...hope I don't get rolled over this time!

While at the park, a group of us gathered. A guy told us that a homeless man was found deceased in the tent at a corner of the park (tent still there) Strangely enough, I've always had a spooky feeling in that area before this incident. (was reading the paranomal thread this morning very briefly and thought old souls, new souls...how do we explain these things that are not easily explained?)

Trading on a whim?
That's how you'll end up in a tent!
-------------------------------------------


Lower TL breached, so will take profit here.

+80

 

[farmerge]

Hope you're right, GB.

Got back just before market closed, and on a whim, bought BBOZ...hope I don't get rolled over this time!

While at the park, a group of us gathered. A guy told us that a homeless man was found deceased in the tent at a corner of the park (tent still there) Strangely enough, I've always had a spooky feeling in that area before this incident. (was reading the paranomal thread this morning very briefly and thought old souls, new souls...how do we explain these things that are not easily explained?)

Ofcourse eskys if you had an out of body experience and saw something whilst in that position, that nobody else did, then perhaps the "whim" will be in your favour.

 

[eskys]

Evening farmerge, GB,

Sometimes that happens to me, acting spontaneously, feeling like it's the right thing to do (hope it doesn't prove me wrong tomorrow) Had I remembered BBOZ before I logged out, I wouldn't have bought it then when I had time to think and procrastinate.

I don't want to live in a tent, GB. Not keen on camping. Had a bad experience in my teens camping in Somerset. We'd arrived late at night, pitched our tents and went to sleep. It rained in the night....woke in the early hours of the morning hearing an irate farmer yelling 'get out of here before I call the police!!!' We'd pitched our tents in the middle of a cabbage patch.....and were soaked to the skin.........hated camping ever since.

 

[Gringotts Bank]

The cabbage patch camper?


L 4553.5

Will double down at 4543.75 if it falls.

 

[Gringotts Bank]

A little bit skinny.

Few ticks profit and out. Going to wait for 4543.75.

L 4545.

 

[Gringotts Bank]

A little bit skinny.

Few ticks profit and out. Going to wait for 4543.75.

L 4545.

-12

I still think it will get to my target of 4563, but I want to see some strength come in first.

 

[Gringotts Bank]

L 4537
+10

Too hard going against the grain. That'll do 42nite.

 

[Gringotts Bank]

Might go down to 4529, I think.

Spot on.

 

[Gringotts Bank]

Hoping for a move down to 4503 later tonight, for a long entry near that level.

L 4523.5

 

[Gringotts Bank]

Hoping for a move down to 4503 later tonight, for a long entry near that level.

L 4523.5

BE