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Trading Journal: Price Action & Volume - April 8, 2024
I skipped adding the sound. It just takes way too long to make it work with my voice. The price action and notes should be sufficient to explain the setup.
Trading Journal: Price Action & Volume - April 9, 2024
***NO Voice, just music and trading****
1. First trade was opened before right before the start of the video. My Preset were setup wrong on my work computer, so I was out with a quick -2 ticks.
2. I fixed my presets and took the short again immediately. The setup was a break of the bull ( green line) and a re-test. Basically, you basic support turning into resistance. Also, the previous bar was a large spread bar closing at the lows ( bearish). The hourly check still confirmed the down trend. I am looking for profits at the recent lows, which happens to be close to my daily goal ( 11.5 points below)
3.At the 2:08 mark, I added to my short, half a position. The setup was confirmed and we got volume coming in.
4. At 3:32 as got a LL, I am watching the support below. If it stops the Price, I may take a less profit on that trade. Checking Hourly again...downtrend. Support below did very little. Should have increased target some. At 4:50 target made. It was a full 10 points on the first position and 7 or so on the second. Done for the day.
Trading Journal: Price Action & Volume - April 10, 2024
*********No Voice. Just trading, notes, and music**********
It was a long morning, and I did not trade well today, even though I made my goal. There were many trades for small stops/targets early on, but the last planned trade was good for 18 Points and pulled me thru. Trading was very stressful. If I had traded my plan, it would have been much easier. There are lots of trades and note in the video and it is a long video. You may want to watch at double speed or find something better to watch. This was not good trading and there are too many trades to write detailed notes on each setup.
Also, I replaced the triangles with dashes to help better see Price! Again, I over traded…
No Trades today and for the next few days as I hit the road with limited access. I think I will take a small size swing position on the MES. The hourly setup is very good and R/R is execellent at a 5100ish Target. Bulls volume is very weak. Also, as we stay at 4.5% yield and possibly much higher, the selling will accelerate.
Short trade taken as planned on April 11th, added to it as the sell off accelerated. I was wrong, the market is selling off as yield is moving higher, its selling off since its due for a correction. I also risked $100 on two CL calls. Oil tends to crash up and we may get some news over the weekend to help that move. These trades tend to make 5 or even 10 R/R when they work. We should gap down Sunday night on the ES/MES and gap up on CL.
Okay, so I was wrong about being “wrong” in my last post. It is inflation and the 10Y yield that are still in full control. Rates moved from 4.5 to 4.65 (+3.3% increase) in a very short time, which confirmed that we may not have ANY rate cuts this year. It’s not like I am a big fan of the Federal reserve, but I do agree with them about inflation. It is the biggest problem we can have and it’s not going away. So, it must be dealt with, very soon.
I am still on the road but can watch some charts over the phone. Which is also part of the reason I stayed with the Hourly charts; less checking the chart. Two main areas of support did not hold, at all, today so I push my target out some. I am still holding my CL calls, and oil did not gap up (and ES gapped down) as I had anticipated over the weekend. My cover for the MES is 5065 but I may take earlier exit as price action behaves. For my CL calls, news needs to break, otherwise, it’s a full $100 (plus commissions) loss on Friday.
