Roller's Intraday futures journey

[Roller_1]

Strong run up overnight right into this daily level of interest. Still carrying some pretty strong momentum on the way up, might have a bit more to go yet.

Will monitor over the course of the morning

 

[Roller_1]

solid drop out of that zone. Not sure if it will be sustained or not. First target is that greenline which is just a recent high that has been overcome. A bit wary of that brown line above it though. I'm gonna let it ride out either way.

Right off @Modest 850 level he was looking for last week

 

[Roller_1]

A re test of that higher support/resistance area would be nice to see if it will Keep price below it.

Need to be wary though that price is still in a intermediate term uptrend until some of these larger TF levels are broken down

 

[Roller_1]

A bit of over a grind up in the afternoon. Was good to get a few decent trades on, been struggling lately. So it's good to get a bit of confidence back.

Intermediate trend is still up although we dumped off some longer term resistance fairly well this morning. if price can't over come that then some lowerr prices might be install over the next week

 

[Modest]

Yeah that Nikkei trade paid nicely

 

[Roller_1]

A bit of over a grind up in the afternoon. Was good to get a few decent trades on, been struggling lately. So it's good to get a bit of confidence back.

Intermediate trend is still up although we dumped off some longer term resistance fairly well this morning. if price can't over come that then some lowerr prices might be install over the next week

View attachment 137316

A nice looking chart. a solid rejection of long term resistance before getting a short-term bounce from a prior high/support. Before continuing down overnight into a possible demand zone.

Public holiday in Japan today, so it's going to be a long weekend. I'm guessing what happens in the US over the next few sessions will dictate where we open.

 

[Roller_1]

It's been a busy few weeks and another one coming up next week. off to Sydney for awhile, so won't be trading next week at all. Thought I would change it up to the candle sticks for a look, don't mind it actually.

Currently short from the red line targeting the green line, finding a bit of support from where price rallied from late into the overnight session though, tight leash on it. Was hoping for a pushup after the open in to the 27500 area for a chance to get short but we never got that.

 

[Roller_1]

It's been a busy few weeks and another one coming up next week. off to Sydney for awhile, so won't be trading next week at all. Thought I would change it up to the candle sticks for a look, don't mind it actually.

Currently short from the red line targeting the green line, finding a bit of support from where price rallied from late into the overnight session though, tight leash on it. Was hoping for a pushup after the open in to the 27500 area for a chance to get short but we never got that.

View attachment 137673

Close but no chocolates on this one. Left the house to run some errands quickly after my stop got hit then come back to this beauty. Reports of some shelling in Ukraine I think. Will be interesting to see what this type of fundamental news has on price. Especially if it turns out to be false

 

[Roller_1]

Wild week in the Markets!

Was long literally a minute before the big rally this morning but bailed thinking it was too aggresive, targeting the zone we hit.

 

[Modest]

You're learning good work

 

[Roller_1]

View attachment 137730

You're learning good work

Thanks, slowly starting to get there.

 

[Roller_1]

Not at the charts this week but got quick peek.

Trading looks so easy when you can't trade lol. But i would like to think i wouldve grabbed a few points from these setups.

 

[Roller_1]

Back from the sunny wet northern beaches of Sydney this week so should be able to get a few days in at the charts.

Thought I would do a bit of an outlook for the week

daily trend is still down even though we ended the week with some very impulsive moves to the upside.



The four hour chart Is still trending down and we are at a important area right here I think. We are at an area where price has dropped away from in the past and have pushed up slightly higher than the previous attempt at rallying up through it. There is no signs of distribution on this chart at all so we need to be wary of that.

If price can break above and hold the 27,000 area or the top of this blue box Then I would be more willing to flip my bias long.



On the 60 minute we can see some consolidation going on just below this box that has been marked up from the HTF. Even though the move from the bigger consolidation zone down the bottom has been impulsive we haven't really broke any major swing highs until we got up to this area. That will change though if we get a gap up and some strong moves in the morning, which would give me more confidence on the long side.




The 15 minute chart like I said is fairly impulsive from that accumulation zone down the bottom. I'll be looking for a little bit of consolidation and a fail to rally higher in the morning, if this looks like it is setting up then i will have a short bias down towards those blue lines at 26500 & 26350



although with this Russia and Ukraine business who knows what is going to happen. This is a bit of a plan for the short side if it comes on, I will have a look to see what I will be looking for to the long side if we get a break above this area now. Although I would probably like a pullback too those areas I have marked on the 15 minute chart before that was to happen.

If anyone's out there let me know your thoughts

 

[Roller_1]

Definitely no consolidation in the morning with a big gap down at the open. price pushed down to my second target that I had identified yesterday fairly quickly and we got some consolidation around that area. I said I would take a long if we got down and showed some signs of accumulation down there. I was a bit too early on the long and got stopped the on the push down. This should not have happened though as I didn't give it enough room to ride and tried too keep my stop placement too tight. I think it might have said it before but I need to give trades more Room to let them play out either way at this stage of my development i thinl.

My target for this was going to be that yellow line, we didn't quite get up there but I wasn't at the computer when this all went down so there was no chance for getting short for myself.

A friend come around and I was distracted!

 

[Modest]

Roller are you familiar with the Wyckoff Spring?

 

[Roller_1]

Roller are you familiar with the Wyckoff Spring?

Yeah mate, I have seen it a fair bit showing up in the charts. Although I haven't been able to capitalise on it very often. I would have to say that it is probably my favourite looking formation. Especially when everything is all nice and symmetrical, doesn't happen very often!

I recall in your journal that you mentioned it also happens in reverse, similar to an upthrust after some distribution.



Just looking at the overnight action, something like this could probably be viewed as a spring too do you think? A push down into some sideways consolidation and a failure to break below before having a decent reversal. Although no follow through. I know it's on the five minute chart tho...

 

[Roller_1]

Roller are you familiar with the Wyckoff Spring?

Speaking of springs....
Looking weak up here now though. Will let it ride still

 

[Roller_1]

i was tempted to flip the long but I have been burned by doing this before. So i let it ride, got stopped out at break even on the last contract on the way back down. If we get a push up into this blue box then I will be watching for a short opportunity.

 

[Roller_1]

I ended up scrapping that short plan once I realised that momentum was slowing on the legs down and we were approaching some longer term support.

i got in long on the failed breakdown of the swing higher, but did my old trick of having to stop to tight. Getting some consolidation around the current level so will be interesting to say if it wants to continue down or rally into the close.

 

[Roller_1]

The next major turning point in my opinion is going to be the top of the box around 26800.
The plan of attack is
If price pushes up to this and shows sign of distribution, get short targeting the current level around 26675, second target would be the shaded box down around 26550.
Otherwise if price heads down and retest the level around 26550 an holds, get long targeting 26800.
The latter would be my preferred play as I think we are trying to shift to more momentum to the long side.

The current 15 minute chart below. You can notice on the left how price is losing momentum on the way down and the drops are getting shorter before it reverses.
A nasty gap down going into the overnight session to take out any stops below the day's low.

Only at the computer for half a day, so I might miss any moves but see what happens