MORNING ROUTINE
. Backup workspace and template directories
. Open Google calendar and check for holidays on Europe+USA
. Check news for today on DailyFX
. Check news for today on MarketWatch
. Update support/resistance zones on the charts
I try to look for suspicious days, i.e.
. days that are holidays only in one country like Germany, England and the States
. days that are not holidays but have very few news coming out, especially if there are no news in USA
This will have an impact on volume and volatility.
MARKETS
I only trade the 6E in London session, from 07:00AM - 11:00AM (I'm in Portugal so it's GMT-1)
TOOLS
. ZondorTimLadderDec11th
You can find several downloadable versions of it on the following threads:
If you like journals you can also check the following:
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TRADING
1.
I try to identify buyers/sellers coming in with the ladder + CVD.
I basically try to see the cumulative volume delta (or cumulative delta volume, call it what you like) going down while price stalls or moves up. The more selling volume i see coming in without price moving accordingly on the same direction, the more confident i'll be going into the trade.
This is not easy to see as it sometimes happens in a blink of an eye (yes, very fast) and it doesn't happen very often. To help me gauge the pressure of price vs volume I use GOMCD with updowntick.
This is like a microscope, very fine detail.
2.
After having identified the dominant player, I look for a break of previous support/resistance and place a stop (see the vid). I use the 6range chart for context but I usually identify support and resistance with a 4range chart because the move can be quite fast.