dreezyreeve's /MNQ Trade 319.32

Trade Detail

dreezyreeve's /MNQ Trade 319.32

Trade Details

Published

Sept. 5, 2024, 5:43 p.m.


Status
CLOSED

Portfolio(s)

TopStep 50K Evaluation,


Broker

Tradovate

Asset

Future

Future Date

Sept. 5, 2024

Future name

/MNQU24

Symbol

/MNQ - View rating


Type

Long

Pattern(s)

8:30 DATA, H6 Bullish Orderblock, Higher DOL Moving Average, Jobless Claims, M1 Demand Entry, M1 Displacement, M5 Bearish to Bullish Variation, premarket high to low 50% , VWAP Lowerband To Upperband, VWAP Upperband Target,

Featured Image / Proof

Stats

Entry CPU Exit CPU Fees Max Amount Max Cost P&L % P&L $ P&L With Fees
18,904.125 18,984.625 2.68 1.0 18,904.125 0.43% 322.00 319.32

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Notes

 

  1. Timing and Data Awareness:

    • You woke up at 8:32 AM, just 2 minutes after the 8:30 data drop, and observed M1 displacement at the H6 bullish order block level.
    • The liquidity sweep through the H6 bullish order block suggests you should pay attention to these levels and monitor for potential liquidity draw misses.
  2. Importance of Marking Liquidity Levels:

    • The missed lower daily draw on liquidity reinforces the need to consistently mark supply or demand liquidity extremes. This could help anticipate where price is likely to move in the future, giving a clearer roadmap for setups.
  3. Chart Timeframe Consideration:

    • You noted that entering the trade on the M1 chart would have resulted in being stopped out at the low of the day before price moved in your direction. Conversely, entering on the M5 chart would have minimized drawdown and improved risk-to-reward.
    • This suggests that using higher timeframes like M5 for entries could offer better trade outcomes, especially in volatile conditions like post-data drops.
  4. Overnight Session Scalping:

    • You took a scalp trade off an untested M1 demand area from the prior day and saw quick success after confirming a close above the 50% Fibonacci retracement from the premarket high to low.
    • This demonstrates a successful application of Fibonacci retracement and quick reaction to price action, leading to a profitable 1-2R scalp.

Areas to Consider:

  • Continue refining entry precision by considering different timeframes (M1 vs. M5) to optimize for better risk management.
  • Marking all supply/demand liquidity zones more accurately could prevent future missed opportunities and clarify extremes.

 

(NOTES)

I woke up somehow at 8:32 on the dot, which was pretty interesting being that data dropped 2 minutes piror, and I noticed M1 displacement through my H6 bullish orderblock level of interest. In which all of the liquidity was sweeped through the the H6 Bullish Orderblock stoploss, with a reaction off of that level, missing the lower daily draw on liquidity by about a 1 minute candle. So In the future, I think it will be very beneficial to mark 100% of supply or demand liquidity so that I can get an idea of the extremes in where price can likely head. 

But I took the retest long from my level of interest after the displacement from the 8:30 data, with a stoploss at my inital stop area from the H6 bullish orderblock. Looking at this trade in hindsight, had I taken the trade on the M1 chart, I would have been stop ran at the low of day for price to immediately have ran in my direction, but If i entered on the 5 minute chart, I would have experienced virtually no drawdown for a very high risk to reward trade. So we will have to keep that in mind for the future.

I did also take a scalp trade in the overnight session, off of an untested m1 demand area from the prior day, it immediately started running, and I didnt take the inital entry, but once we had a 1 minute close above the 50% fib from the premarket high to low, I scalped a long trade for about 1-2R.

Transactions

Date Side Amount Price Commission Reg Fee
Sept. 05, 2024 08:37:00 Entry 1.0 18,866.0 None None
Sept. 05, 2024 09:39:00 Exit 1.0 19,003.25 1.34 None
Sept. 05, 2024 20:02:00 Entry 1.0 18,942.25 1.34 None
Sept. 05, 2024 20:12:00 Exit 1.0 18,966.0 None None

UAVS 29.96

Portfolio(s): Toby,
Last entry Feb. 23, 2024, 8:17 a.m.

GBP/USD 68.00

Portfolio(s): Default,
Last entry Sept. 26, 2023, 1 p.m.

BCTX 26.95

Portfolio(s): Day Trading: Small Caps & Large Caps,
Last entry June 2, 2021, 9:35 a.m.



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