Roller's Intraday futures journey

[Roller_1]

Zone of interest for possible short is around that box area, or maybe slightly lower.

Otherwise I will be looking for another retest of the two lines below the current price.

 

[captain black]

Zone of interest for possible short is around that box area, or maybe slightly lower.

Good call

High volume upthrust at 11:35 your time and a test about 10-15 minutes later signalled a short @29555.

 

[Roller_1]

I was a bit too keen! Once I saw that high-volume push-up and no follow-through I was tempted to jump back in again at 29535 if it broke below but after a couple of losses pulled out. I should have been more patient and tried to get my stop above 29600 i think.

Fomo trade earlier that i bailed from when i knew it was dumb.

See what happens around 400-420 if we drift down. Important area imo

 

[Roller_1]

Zone of interest for possible short is around that box area, or maybe slightly lower.

Otherwise I will be looking for another retest of the two lines below the current price.



View attachment 133368

Price has been fluctuating in this zone most of the day, refuelling.

Even if price does reverse from here, it may not have been the best plan with that 29400 area below it.

 

[Roller_1]

Price has been fluctuating in this zone most of the day, refuelling.

Even if price does reverse from here, it may not have been the best plan with that 29400 area below it.

View attachment 133383

I was hoping for something like the line that I have drawn on the chart below for a chance to get in before a potential drop. But a big gap below and then no pullback towards the 29,400 area I didn't get in short. Instead I jumped in front of the moving train… Twice, trying to pick the bottom. Something to learn from.

Still dropping like a rock! Straight through my mrked area.

 

[Roller_1]

another brutal afternoon session in the Nikkei, dropping almost 1000 points in just over an hour! I didn't Get to do any trading today as I got back to the PC just in time to watch the carnage. Covid is a gift that keeps on giving…

 

[Roller_1]

I haven't been very good at keeping this thread updated!

It looks like we have started to form a bit of a range in the Nikkei, if price gets down to the lower zone I have marked up I will look to get long if it looks like it is going to hold. Another area of interest is the 27850. We just opened a bit higher than the close so let's see what today brings!

 

[Roller_1]

An update,

I always tell myself I'm going to try and be more patient, but I got a bit too keen on the first touch of the 27850 area. That didn't allow me to get my stop above where I wanted (just above the double lines) and my stop got hit. I had another go on the breakdown and the rejection of that higher zone, currently short from 27840.

Maybe I should get into positions using stop orders instead of limit orders, at least this way price will be moving in the direction I want before I enter. Something to consider. Thoughts anyone?

 

[Cam019]

@Roller_1 I have been lurking from the sidelines. Great thread BTW!

I actually trade the EURUSD intraday (mainly because it has the lowest CFD spreads).

If you don't mind, I'll pop up some of my analysis of the Nikkei futures. Maybe we can scope somethings out. Usually I enter on the 1 and 5 minute timeframes but I will pop out a few timeframes for analysis.

 

[Roller_1]

If you don't mind, I'll pop up some of my analysis of the Nikkei futures. Maybe we can scope somethings out. Usually I enter on the 1 and 5 minute timeframes but I will pop out a few times for analysis.

Great sounds good. I'm pretty green to this type of trading so always good too discuss. What sort of analysis are you basing your trades on?

 

[Cam019]

I learn't everything from MENTFX on his free YouTube videos. It's a great source of knowledge. It's basically based on smart money concepts, where liquidity lies in the market that the composite man would target, supply and demand zones, etc.

 

[Cam019]

 

[Cam019]

Maybe I should get into positions using stop orders instead of limit orders, at least this way price will be moving in the direction I want before I enter. Something to consider. Thoughts anyone?

I always use limit orders. I used to use stop orders though, until I learn't to mark up my charts correctly. Now it's limit orders alllllll day.

 

[Roller_1]

I learn't everything from MENTFX on his free YouTube videos. It's a great source of knowledge. It's basically based on smart money concepts, where liquidity lies in the market that the composite man would target, supply and demand zones, etc.

Great, i'll check it out. Sounds similar to what i'm focusing on..

 

[Cam019]

So, now what I have done is set an alert for price crossing above 27980, then I wait for my alert to go off and then I'll go back to the charts to look for a potential entry on lower timeframes.

 

[Roller_1]

When you say this Bar, what bar you referring to in your commentary on the chart?

 

[captain black]

Another Wyckoff trader, excellent!!

Look forward to your posts Cam

 

[Roller_1]

So, now what I have done is set an alert for price crossing above 27980, then I wait for my alert to go off and then I'll go back to the charts to look for a potential entry on lower timeframes.

Oh yep, got you

 

[Cam019]

When you say this Bar, what bar you referring to in your commentary on the chart?

The range of the two candles marked. So the green candle is the 'up move before the down move that broke structure on this timeframe', however because the wick of the following candle reaches above the high of the green candle preceding the break of structure, we use that too.

 

[Cam019]

Remember the fractility of the markets. Everything I am talking about here works in all liquid markets on all timeframes.

Also, not all of these setups will work. Some will never reach the zones you have marked, some will take off without you - doesn't matter. If the markets are fractal, which they are, there are more setups across all timeframes than you could ever take.

The most important thing is patience and a framework to mark up your charts and wait for your setups to present themselves. Don't force the trades.