Preparing ES Emini and MES Micros Traders To Trade In Our S&P Trading Room
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Transcript
all right happy Tuesday afternoon let’s do a combination into of the day chart and me recording the trades for our analytics so let’s go so first of all I always measure the IB High that’s not a trade because we we were already there so the IB High doesn’t give me anything not the IB High the overnight High the overnight low came here vomit straight through let’s just check this trade real quick and just make sure that it was a vomit straight through certainly a vomit straight through okay so what we’re going to do so we’re going to mark this as Tuesday this was during the am trading this was the overnight low and what do I call that for Trend I think it’s chop I think it’s chop cuz this would be the first ladder I can’t call that with Trend so I’m going to call that in chop it is certainly a full loser what I do is I come in here and highlight that then I come over and I I will screenshot this so I can have it in my records for long term drop this in here now this was also after liquidity grab and two eight point candles and in fact I want to measure one more thing from here to here would that have been a third eighto candle actually it would have so three eighto candles and then we’re going to go to a special situation up here because under special situation I’m going to call this as an eight-point candle no trade zone eight-point candle no trade zone um I wouldn’t call that a break-in trade okay so boom loser uh there was no other trade there then we came down and um boy I really should have been tracking the strong levelsStrong LevelsProprietary weekly support and resistance levels used to identify areas for "touch and go" trades or reclaims. These levels act like magnets for price. Full entry → but I’m not I think I’m I’m just not we know they’re very successful so here we go up no two candle clearance this is a backside and that was the entry I took right there I FR ran that just a little bit um with the trend in fact I actually had three orders but it only got me into one of them which is one reason I front run so let’s talk about that for one second so there’s a fair value GapFair Value Gap (FVG)A gap in price where there's an imbalance between buyers and sellers. Think of it as a zone price blew through so fast that it left a "hole" on the chart. Full entry → right here when I really want to be in the trade I will have one contract just before the wick here one contract cuz I want to get in it cuz if it’s going to be a strong move it probably won’t even fill the fair value Gap so let’s measure this actually let me turn on magnet tool cuz I’m not exactly stop I’m not exactly right there off the wick so certainly that’s a trade this is end of the day chart so I’m going to make a little note here this was a thre minute backside fair value Gap plus I’m going to put strong level because that does need to be in my opinion denoted uh because it was an extra reason I certainly entered the trade okay so Tuesday New York lunch ntz is really a no trade zone I’m going to find out if that’s really really 100% accurate um so we’re going to see backside pardon me backside This was um first ladder second ladder so I’m going to call this backside with the trend best entry was a wick a touch and go it was with the trend second ladder what um jeez it’s either second or third man I’m going to go third cuz on one one minute is what we were watching it was definitely a third um on there on this though I would still count up the third um fiveo profit potential yes uh so let’s take a screenshot of this want to make sure this is probably in it a screenshot of that and the only reason I traded longer and I took this trade in my no trade zone it’s because we vomited 65 points we started having evidence of lading up the risk of short coveringShort CoveringA rapid upward move caused by short sellers exiting positions. Don't short short covering! These rallies can be explosive and violent. Full entry → but was high and I wanted to be long if possible so I did it um and done don’t know why I deleted that okay so backside with the trend there and then nothing nothing nothing then you had a muddy weak front side right here there’s no way I would have taken that trade there’s no way I would tell you to take that trade unless you really wanted to be long I mean I’m going to count it Tuesday no actually I was in the PM PM a weak front side um a weak front side no fair value Gap I’m going to say that was muddy the best entry was the base um I’m going say was wiggle wiggle wiggle let’s go to a one minute chart how did that bounce okay you had a pretty decent first bounce let’s see how much did that bounce and would you have been okay more than two points so no way you should have taken profit I would call that chop at this point I’m going to call that profit and let’s go back to a three minute chart I’m just going to circle this screenshot it drag it in here okay now let’s mark this for our end of the day charts muddy 3 minute week front side is what I’d call it all right all right um You have to call this a break level all right let’s submit this all right we got Tuesday pm. weak break level it’s a weak break level cuz there’s no backside I even sure you yeah it’s just I’m going to call it muddy um best was at the base there was a touch and go cuz that would have been the one you entered did it go Five Points I’m going say it had five point potential I’m going to say it was chop profit fiveo potential okay let’s screenshot this actually I got to I want to Circle this cuz I’m just trying to make my life a little easier in the future if I decide to look at these might as well record it right now while I’m here right um I got to call that counter break counter what do I call it over here I said chop but ladder ladder ladder it does a little pull I that’s I got to say that’s counter actually counter okay save comes down I know I got a front side right here so so I got Tuesday I got a strong front side because that became a this is the back side this became a front side so that’s a strong front side um lad I’m must call there’s no difference between Bas and Wick so I’m not going to mark that um not really going to say we’re in the the C of 8o candles but you know what was this trade was in the sea of 8o candles and I need to go to actual data chart and Mark that on that about that backside so let me come over here to my chart backside special situation that was an eight-point candle land this one right here was 8 point candle land now um this is a front side a strong front side no difference between the base and the wick this wasn’t a fair value Gap um I forget about the backup levels I need to go in over here and mark the backup levels too backup level that backside had a backup level yes the break level no the weak front side I’m going to say yes had a back a bubble okay um now let’s come back in here um that was pretty much touch and go how much did that did he bounce okay not five points but you made profit chop profit screenshot it um nothing else to note let’s go submit now for our end of the day charts let’s denote this front side fair value Gap all right did we leave any levels behind oh there was this front side right here I missed this one there’s a weak front side side so Tuesday pm. week front side cuz there was no backside development um fair value Gap there there was no difference there did it have a backup level I’m going to say no CU this break level is already tested none of that created a break level this was a touch and go this was chop this was profit did it go Five Points yes let’s denote that I might have to rescreen shot then let me get a circle screenshot all right let’s put that in there uh no special situations bada boom bada boom perfect okay so then price is shooting up there was nothing here to trade there was a backside here way over here I don’t know what I just did I want this tool okay and you had a front side as a a ugly front side as a backup but you also had a breake level up here so let’s denote all of that so this was Tuesday this was during the final 30 minutes um this was a backside this was an affair value Gap this was an eight-point candle line in fact the third eight-point candle there’s no way I would have taken that trade but I got to record it I mean the purpose of recording is how strong are these levels not even considering anything backside boy you needed the backup you needed the backup level I try to denote that total counter um how did that behave in a one minute it’s hard to say you lost money on it touch bounce how much did that bounce so the first touch bounce yeah you didn’t need the backup level actually you didn’t need the backup level it was profit it was not a five pointer though um I’m going to Dem mark this was on a one minute chart I wanted to see that so we also have a front side trade here that we record backside right there okay so now we’ve got Tuesday uh strong front side cuz you had a backside so strong front side fair value Gap a candle Point Land it was a doe though I hate does let’s go to three minute chart got to count it though nothing differ there yes it had a backup it had a break level um it was pretty much Touch and Go total counter and I got the eight points um the it’s also the final 30 did I right here final 30 got to make sure I note that you know what and that last trade was the final 32 I need to make sure I did note that I put first 30 but it was the final 30 man we got to watch all that final 30 yep um so this was the front side fair value Gap it was eight-point candle land you did have a backup it was touch and go um it was profit I’m going to remove that for a second to not that do this picture will tell me everything I need to know later yes fivepoint Runner I’ll give it that all right submit now let’s go back let’s reset our chart all right CR side fair value Gap and this was a profitable trade you got to drop in time frames and look at it backside fair value Gap did I delete this one I don’t know what I did side fair value Gap um we’re in the final minute of trading this is why you shouldn’t trade this final hour look at that all right so I need I’m going to raise that to here it’s a break counter way counter last last 30 last 30 so this is the end of the day chart I’m going to post in the group um this was front side fair value Gap no backup front side fair value Gap no backup and so maybe you don’t take it you know um I’m going look at all these eighto candles just here I think I got to come over here where do I put this let’s go here I don’t need this I’m not tracking halfbacks okay so let’s move you over here let’s move you over here I don’t want to cover up and I’m done with that tracking I think I’m going to turn off the essentials we’ll turn off the micros let’s go here um we’ll move you over here we’ll move you there here that’s fine I’ll do that and that was a brake counter no back up that was a back side that was a front side um I’m not going to count a break level in the final one minute look at that retraced look at that that’s just insane that’s the final short covering this is what I would have hoped would happen over here but it didn’t I mean look at that unbelievable how they can destroy Traders I think that’s the end of the day chart so what I’m going to do just for clarity I’m going come here Tuesday April 9th one two three four five six seven seven for seven seven for seven trades today think about that that’s so cool all right let’s go to 40 here let’s make that a little larger I’m going to turn off my strong levels now if I was keeping that as a trade Journal I would keep on the strong levels just so there you have some data all right and now I’m going to save this three minute end of the day chart and I’m going to post it over there okay I hope that was educational and fun
