- Well the vold was -36 and we ended at HOD today.....................................................................................................................................................................................................................................................sick
Overnight Channel Continuation
- 2 weeks ago we had a downtrend and the only time that the ES would actually move lower was in the after hours and the premarket. I have a theory that the bait in shorts at open from gap downs, then they bid the options up higher nearly all day until retail finally capiltulates towards EOD and then they dump it in after hours and premarket to make sure nobody buying puts gets paid out. It happened nearly everyday for a full week last time so I figured, hell lemme try to catch it this time when those slimy fucking cunt market makers do everything in their power to make sure everyone except them fails.
- Awesome 10 point trade with only starter size, allowed me to really have a strong cushion at open even though I fucked up all of my trades today very badly.
Channel Continuation
- ES is in a descending channel on 2m but it is below the lower bounds of the 30m uptrending channel, this means that downside momentum is going to be limited until reversion is likely to at least the lower bounds of the uptrending 30m channel
- uptrending 4h and on bottomside of uptrending channel, uptrending 30m and below bottomside of uptrending channel. This shouldve been a huge red flag to me because we opened pretty much at 1ATR as well and below the -2 pivot and then use the -3 pivot as support. This was really nothing more than just a big bounce from sellers getting too excited for a big down day.
- VOLD at -35 and we end at HOD, HAHAHAHAHAHHAHAAHA
- ADD was very very very red at open then grinded back up to only -2000 HAHAHHAAHAHA
- TICK yeah bearish then bullish yadda yadda whatever
- Weight was at reversion level of uptrending 30m channel and we were riding on the bottom of the 2m downtrending channel. What an ugly chart for a continuation of sellers on major indicaes. For the selloff to really be strong weight wouldve had to be down way more than it was. on the day it only was down 0.59% which is nothing when the ES is down 0.86%
- Combo futures were also already below the lower end of the 2m downtrending channel and below the lower bound of the 30m uptrending channel.
- I took 1 short trade near the open and I covered immediately on accident which was so hilarious given that I waited that long to get short in the first place. I really need to learn how to be aggressive and not be such a god damn pussy. The fucking VOLD was at -36 for fucking christ sake. GO FUCKING SHORT YOU FUCKHEAD. I shouldve gotten short right at the open when I saw that and we broke below the pm low. Yeah that trade is hard to control risk but if I am always thinking only about the risk of every trade and never the potential reward then I am skipping out on a huge variable within my EV calculations. I got short 4 times ES and lost on all 4 of them when the vold was 0-36. give me a fucking break man
- Here is a perfect open imbalance trade, VOLD -35 get short and scalp that first opening drive and cover once we see a green candle print. Easy $75 trade right there with practically zero effort other than having the balls to sell the ask within the first 2 minutes of the open
- This is where I really fucked up. Look at all of these continuation opportunities. Firstly we have a clean breakdown at least 2 times after the first 30m that I could have shorted for probably 5 points each which is 75$ per trade. These are all continuation trades so stop very tight, looking for previous support to turn into resistance, target is a move in my planned direction. To the upside there were so many chances to get long but I never did it because the trend was so strong to the short side at the open so I was very hesitant to get in.
Channel Continuation NQ
- This was by far my "best" trade of the day but also very very very bad execution. I got in short, covered half my position at the peak breaking point because I was scared, then added once it broke down, almost stopped at the perfect top tick high, then covered at the LOD when I saw us wick out the previous higher low. The entry execution is pretty nice on this for the first entry, the add execution was very very very bad and I added pretty much into lows rather than waiting for a re-add into my origional price. This is a classic lower high continuation trade where I get in looking for continuation of the 2m descending channel. This trade was a decent $90 profit but all things considered I should have never stopped out of that first entry and had I not done that this wouldve been a lot more like $150 profit trade which is great considering the fact that I have only traded the MNQ 1 time ever before.
How should I have traded today?
- Get in on every fucking continuation trade that you see no matter the circumstances. Take the small scalps and add them up to a huge green day. Yes I could also get in and pyramid into the trade with having a much larger target price but at the same time that is not really the best thing to do in grinding scenarios. This was a pure algo day and when I see that price action I need to be abel to identify it fast and then just blindly take the clean continuation entries and not be so wrapped up in the reversal idea. I need to just blindly follow the trend once it occurs which means the long trades that happened after the reversal were just as viable as the short trades that occurred before the reversal.
