Trade Details: July 15, 2024

• Status: No Trade Day (Execution Issues)
• Broker: Tradovate
• Asset: Future
• Future Date: July 15, 2024
• Future Name: /MNQN24
• Symbol: /MNQ
• Type: Short
• Patterns:
  • 2 Day Anchored VWAP Short
  • 5 Day High to 5 Day Low GAP Liquidity Sweep
  • Daily Bearish OrderBlock Short
  • Daily Bearish Structure
  • Daily Bearish Trend
  • H1 TrailStop
  • H2 TrailStop
  • M5 Bullish to Bearish Variation
  • Playbook
  • PML Target
  • Prior Day High Break & Reversal
  • Trade Of The Day
  • Week Range
  • Wk Bullish Structure
  • Wk Bullish Trend

Notes:

No Trade Day: Executional issues with APEX prevented trade execution. Encountered 'trading temporarily halted' error.

Trade of the Day Setup:

Observations:

• Anchored VWAP Analysis:

  • Analyzed the 2 Day Anchored VWAP during the premarket session.
  • Identified that the prior day high and low were distant.
  • Noted the 2 Day Anchored VWAP provided a short signal at the top of the band.

• Daily Chart Analysis:

  • Suggested a draw on liquidity to the prior day low due to the daily candle downtrend.
  • Weekly chart indicated a draw on liquidity to the prior week high because of the weekly uptrend.

Trade Setup:

• Entry:

  • Best timeframe for execution: M5 chart following the break of the prior day high for a reversal.
  • Used the 2 Day Anchored VWAP Upperband for a short on the correct side of the V (or ^).
  • Executed with a sell stop order.
  • Stop loss: Set at the high of the day (HOD).

• Orderblock Rejections:

  • Observed 2 consecutive Daily Bearish Orderblock rejections.
  • Execution could have been on the 5D 5 Minute timeframe (M5).

Future Strategy Adjustments:

• Execution Timeframe:

  • When encountering a new weekly range, refer back to this setup.
  • Adjust from the M1 timeframe to a higher execution timeframe such as M5 or M15.

• Execution Data:

  • More data should suggest the best possible approach.
  • Refer to M5 executions for daily levels, prior day high, weekly range Anchored VWAP bands, or a Daily Orderblock, unless proven otherwise.

Mental Trade:

• Mental Long Entry:

  • Mentally executed a long entry off the initial move up from market open.
  • The trade wound up failing.
  • It was beneficial not to trade today, as it likely prevented a loss.

• Setup Classifications:

  • A Side Setup: Initial move.
  • B Setup: Break and retest with high probability at orderblocks with unfilled orders.
  • C Setup: To be defined in the future.

Action Points:

1. Higher Timeframe Confirmation:

   • Utilize higher timeframes like the H12 to confirm trends before changing bias.

2. Execution Timeframe:

   • Default to higher timeframes (M5, M15) for execution around daily levels, prior day highs, weekly Anchored VWAP bands, and Daily Orderblocks.

3. Avoid Trading on Execution Issues:

   • If trading is halted, use the time to observe and mentally execute trades to refine strategy without risking capital.

4. Follow Setup Classifications:

   • Focus on A side setups (initial moves) and avoid B setups (break and retest) unless at high-probability orderblocks.

No Trade Day for me. Currently having executional problems with APEX. They are not allowing my to execute any trades, and im getting a 'trading temporarily halted' 

But here is the trade of the day setup.

For some reason, I was referring yesterday, to the anchored VWAP when analyzing the next potential range setup. I noticed in the premarket session, that the prior day high and the prior day low, were quite far away, and that the 2 Day Anchored VWAP provided todays short signal at the top of the band. 

On todays opening, the Daily chart was suggesting a draw on liquidity to the prior day low, because of the daily candle downtrend. And also, suggesting a weekly draw on liquidity to the prior week high, because of the weekly uptrend.

So this is an interesting setup that occured today, and im seeing some correlation with higher timeframe setups, and incorporating a VWAP to a wider range based on that. I just havent yet figured out how to correlate it, or how to find it again in the future. I was kind of just going off of gut instinct yesterday on my sunday analysis when I figured that the 2 Day Anchored VWAP would provide an accurate signal for todays trading session that I missed. 

Also, the best timeframe to execute this setup was on the M5 chart following the break of the prior day high for a reversal, and the 2 Day Anchored VWAP Upperband for a short on the correct side of the V, or in this case ^, with a sell stop order. With stops at HOD. 

There has also been 2 consecutive Daily Bearish Orderblock rejections, with this day included, and the trade could have been executed on the 5D 5 Minute timeframe (M5)

So in the future, when we see a new weekly range created. We will refer back to this, and adjust from the M1 timeframe, likely to a higher execution timeframe such as the M5 or M15 chart. More data should suggest the best possible approach, but as of today, the next time we reach a daily level, prior day high, weekly range Anchored VWAP bands, or a Daily Orderblock, we will refer to M5 executions, unless proven otherwise.

Another thing, we took a mental trade today, since we were unable to execute, and it was a mental long entry off of the first initial move up from market open. And it wound up failing. So overall, I guess it was a good thing that we couldnt trade today, because I would have likely taken that loss. So in the future, we will only intend to play the A side of each setup, which is the initial move. B setups will be classified as break and retests, with the highest probability retests being at orderblocks where there are unfilled orders. And we will define C setups in the future.