2792023OPEN

@ kazbek966

Your posts are interesting.

Perhaps you should consider doing a journal with an explanation of your trading approach and your executed trades on a daily basis. This way we would have a framework to relate your posts to. Only an idea... If not, feel free to continue posting here if you like.

aapl


Heaviest stock in indices is loosing ground ...

Rcap 

@ kazbek966 Your posts are interesting. Perhaps you should consider doing a journal with an explanation of your trading approach and your executed trades on a daily basis. This way we would have a framework to relate your posts to. Only an idea... If not, feel free to continue posting here if you like.

Appreciate collegial appreciation. I am currently on the vacation thus have a bit of time to fool around. But most importantly, I really think that there are too many journals already. I would rather have one journal where people are sharing their ideas and thoughts and your journal is perfect framework for that. Ordnung muss zein ! immer ! And frankly no matter how hard I try I can not beat german in the noble art of ordnung. So if you dont mind I would gladly tag along and post my thoughts and analysis in this space. Finally, I am big fan of Renko based algotrading so all my trades are executed automatically , but knowing framework of the market helps to pick right strategy. If you are interested of cause I can post trades on weekly basis. Gruss.

Couple of thoughts for what they are worth coming from relative newbee.
Yesterday projections came through quite nicely , that is untill 13:30 CST with the immediate rejection of 14600 level
resulting in complete reversal on quite thin volume and probably trapping quite a bit of bears in the process.
This move came on relatively thin volume and sliced like razor sharp knife through almost melted butter making fun
of all those resistance level and volume profile afficionados.
The end result was either long legged doji or spinning top green candle throwing some indecision in the process.
Daily candle wise it is bullish sentiment. REnko 140 shows that this move is still inside downward channel but could break out of there any moment
confirming bullish micro trend. End of month also tends to be quite bullish historically.
That being said we are still inside wide downward channel on daily chart which does not preclude a bit of bullish run
till upper edge of daily downward channel will be reached.
The only question will we have a bit of pause or this unrelentless fun will continue with thursdays historically producing quite big moves.


2792023SESSION

Breaking through one of the trendlines may show overall market sentiment. At least in ETH.
280923ETH

20230927 post market



trades 9 27



volume peak

• We had a slow grinding up/covering in eth
• My thought was that this could continue after rth open for completion. That happened
• You could also say: We open in y value > expect chop > fingers away
• We made a nice inflection point in A on the top (with volume peak on the reversal m1 candle) (see picture above)
• I tried to scalp shorts. It was choopy. (See the the bold text)
• Then sellers took control but the rhytm was uncommon with long pullbacks. But formally ES & NQ were otf down
• I went to "expect more of the same"-mode
• Then we had a big CHANGE. "Trading is about CHANGE" (Jim Dalton)
• I reversed and joined agressively
• I believe: When everything seems to be clear (in this case otf down) and the inventory is very one sided (We fall for 2 weeks) this is often the moment where THEY start an "inventory correction operation"

What does yesterdays strong up-move mean for the near future?

• This was covering. Covering weakens a market
• We were not able to break a daily high.
• Nothing has changed in that way
• Can longer term buyers come in and this is the low? Of course. But for now it simply is not the case

@kazbek966

I noticed that you do your analysis on the mnq. You should clearly use the nq for that.

Rcap 

@kazbek966 I noticed that you do your analysis on the mnq. You should clearly use the nq for that.

Interesting idea. For some reason I was under impression that they are equivalent except for risk and rewards naturally. Would be interesting to overlay the charts and see how it look like. Though trading NQ is really a bit out of my league. Only in SIM account. Well, TradingView representation shows virtually identical charts. May be VOL would be different and tell a bit different story...

It is about the capital that is moved. Should be multiple times more in the nq. So if you use volume analysis the nq is the relevant product, not the mnq.


In sierra i simply use nq for analysis and trade in mnq.