October 20

Notes & Expectations
. High Timeframes: Month reached last month’s close, week 3rd 1TF up, 5th day 1TF up
. Overnight : Settled near 4516 high, sold steady to 4504, impulse up, dropped off, drifted near prior settle to open
. Notes for today: Fed speeches at 8am and 10am, 3 gaps below over last 3 days (weak structure), bullish close yesterday, likely to be resting day.
. Inventory: -51% on 175k contracts
. ON Range: 13
. RTH Range: 4515-4487 = 28
. RTH Rotations: 7.75
. Market Posture: Neutral
. FT Scenario 1:
. FT Scenario 2:

Opening Notes
. Open: 4516 slightly above range
. Opening Type: Open auction out of range, resolved higher
. Day Type:
. Opening Swing: 4514 - 4525
. IB: 4514 - 4530


Watching
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Other Key Levels
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Play-By-Play
. Open auction,
. Resolved higher at 8:45 cst on impulse move (multiple buy imbalances)
. Some absorption of buy imbalance at 4524-25
. Slow drive on negative delta to 4518 VWAP, PH, ONH confluence
. Strong move up from confluence area supported by aggressive buyers (1k+ lots) to 4532.50, overcoming aggressive sellers
. Looks like sellers stepping in as price drops from move to 4532

Trades & Notes
Restless night trying to get to sleep so I set my alarm to 9am cst and got a late start, so I only did prep and watched the market. The one trade that would have fit my criteria was long from 4518 area (VWAP, PH, ONH confluence) on the pullback after breaking out of the open auction range. Feeling frustrated to be struggling with finding time to dedicate to my trading, but it’s a work in progress.

What I did well: Stuck to my rules by not trading when I didn’t get proper sleep, completed market prep and play-by-play analysis

What I’m learning: To efficiently use my EdgeproX platform after switching from Ninja

What I’m going to change: Follow-through on managing my time to allow for more trading

Week Of: Mon October 18

. Mon Gap: No
O: 4443
H: 4480
L: 4437
C: 4475 near high
OT: In range, test Drive of ONL
DT: Trend
Profile: Triple Dist (mostly P shaped) … invalid because of trend?
ON: Drift up
Notes: Looked like strong, intentional trend after testing ONL (check footprint during open)

. Tue Gap: Up
O: 4993
H: 4517
L: 4487
C: 4514
Opening Type: OA-OR .. resolved up
Day Type: Normal Variation (unsure if 15 pts out of IB counts as slight push through)
Profile: P shape
Notes: IB held twice as support. Main opportunities were VWAP confluence support. Strong conviction long all day and close near high (Bullish)
ON: sideways

. Wed Gap: No
O: 4517
H: 4532
L: 4514
C: 4525
Opening Type: OA IR … resolved up
Day Type:
Profile: Balanced with slight P shape
ON: Sideways
Notes: Grind higher with retest back to open. Close near mid (neutral)

. Thu Gap: No
O: 4522
H: 4543
L: 4517
C: 4539
Opening Type: OA IR, resolved up
Day Type:
Profile: b shape
ON: sideways
Notes: Tough trading. Rejected at ATH in am, then broke through at PM. Closed near new high

. Fri Gap: No
O: 4536
H: 4551
L: 4515
C: 4533
Opening Type: Open Drive
Day Type: Normal
Profile: Balanced
Market mode: In balance
Notes: Strong rejection at 4551 as IB closed, then strong support at previous low, close in mid (neutral)
ON:

HTF & Volume Summary
Grind higher all week long after the previous Friday’s strong bullish close: Candle broke out of range after higher low formed Wed and Thu. Weekly is 1 TF for 3 straight weeks now ending at last ATH from 7-8 weeks ago.

Major Structure
. Areas for potential retrace support are the focus: 4480, 4450, 4340 … system froze when I tried to make MC profiles

Looking Forward
. Now that we’ve poked through ATHs and were not able to keep running, the question is whether we will grind higher or retrace. If we retrace, I’ll look for buyers to step in and support at major structure area. If price falls through, I’ll look for sellers to step in at retests on the way down.

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I'll be on vacation next week, so my plan is to do a weekend review next week and spend time trading live the following week.