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Roller's Intraday futures journey

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after a big day of selling in yesterday's session overnight price chopped its way up. I'm hoping for a push up to the blue box before another drop but unsure if we will get there. This is really my first day back this year but I have a few other things going on so might not be doing too many trades.

Happy new year all

 
An update from last session.

We never pushed up from the open on Friday and had a pretty heavy drop mid morning. I wasn't really switched on and was doing some poor trades while half doing other things. I should have just not traded it at all. That is the problem with papertrading I've found, sometimes you just catch yourself putting on trades that you wouldn't do on a live account for the hell of it. something I need to work on

 
yesterday Was a public holiday yesterday in Japan so no trades. This catches me off guard every time!

I got onto a nice short this morning. I originally had my second target in the blue box down the bottom but I removed it after price was coming down with a lot of momentum. This might turn out to be a larger timeframe demand zone and if we get another test of the 28200 level this could be an area to get long. first target got hit then my stop on the push up.

Red circle was a fat finger trade.




 

Today was a bit of a strange one. My initial plan was correct and had identified a turning point nicely but still just come away with a small profit. I got a bit nervous on the initial reversal and move my stop too low, getting stopped out in that red circle. This would have stopped me from getting into some silly trades if I held my nerve. Something to learn
I'm trying to cut out the dumb trades but my brain sucks me into them, at the low

 
This was a plan from before the session opened. We had a nice accumulation zone forming over the last few days which tagged a area yesterday.

I was also on the lookout for a push down to 350 before a larger move up.

The orange line could be a area where we get a small reversal. That is my first target before targeting the zone above.

 
Update, all moving pretty quick this morning. I have been trying to focus on jumping on the momentum instead of trying to pick reversal points. I'm going to let this second target Play out and leave my stop where it is.

If we get up to the second target I will be monitoring it for a possible turning point

 
Overall, not too bad today. Although I left a lot on the table. there was a day in December with a similar setup to this, following a large accumulation zone I also exited too early and missed a big run up.

 
Only two trades today. The second one was only half size because I was waiting for a dip into the blue box to get long but I got a bit edgy when price started rallying away.

a big push down going into the cash close pushed it into the zone and price quickly rallied away. I wouldn't be surprised if we filled that morning gap overnight.

 
Roller_1 said:
I wouldn't be surprised if we filled that morning gap overnight.
Click to expand...

Filled the gap before tumbling down through yesterdays support.

would be nice to get a small rally before the next dump to test the lower levels

 
We never got the small rally from the open, a small gap up and then just broke down. Tried to get in short on the pullbacks twice but got stopped out at the high each time, heartbreaking stuff

I think it's starting to slow and show signs of some accumulation on the way down, will be looking for a push down into that zone below for a possible reversal.

 
4 trades and three loses plus one break even. Risk and position sizing was small on them so no real damage done.

After noticing some signs of accumulation in my last post, the last short probably wasn't the best move. I was hoping for a push down before a rally up but obviously that never came.

It's worth saying, I just put up five minute charts for the overall picture. Most of the trades are taken on the smaller timeframes but taking into consideration the larger TF setups also.

 
What did you see on the HTF to prompt the trades?
 
Modest said:
What did you see on the HTF to prompt the trades?
Click to expand...


These trades i was more trying to anticipate where I thought price was going on the HTF. Although we were trading around an area I had identified as somewhere support might show up, I hadn't thought I had seen any signs of it slowing down so I was trying to short the pops on the way down to where I thought we might get a reversal. In the lower zone i circled in red.

I have noticed though that my best trades have come from waiting until we are in a more obvious position on the higher timeframes instead of trying to type these smaller type trades/setups. in saying that I feel like I'm getting a bit more of a feel for these type of trades and when to take them (even though these were all losers). I think trading with the momentum of the market has helped in the last week or two (small sample size) previously I would have tried to jump in long as soon as price got to a zone without waiting for enough confirmation.

Feel free to add any thoughts

 
Roller_1 said:
Feel free to add any thoughts
Click to expand...
I’ll mark up some charts when I get home tonight. In the interim check out the stockcharts article on Dow theory it’ll help with understanding the concept I’ll touch on tonight
 
Modest said:
I’ll mark up some charts when I get home tonight. In the interim check out the stockcharts article on Dow theory it’ll help with understanding the concept I’ll touch on tonight
Click to expand...
Perfect, thanks mod
 
Cam019 said:
@Roller_1 - Keep an eye on this level.

1-hour



4-hour

Click to expand...

yeah mate I'm onto it!

Although I think I was keeping a bit too of a close eye.

My original plan was not too short until we get back under my level of resistance an retest that for a short entry.

gtg fish on
 
Roller_1 said:
yeah mate I'm onto it!

Although I think I was keeping a bit too of a close eye.

My original plan was not too short until we get back under my level of resistance an retest that for a short entry.

gtg fish on
Click to expand...

everything's got a be hectic in the last hour.

Hopefully something like this might give me a chance

 
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