Trade Detail
dreezyreeve's /MNQ Trade Planned
Trade Details
- Published
-
Oct. 5, 2024, 8:47 p.m.
- Status
- PLANNED
- Portfolio(s)
- Broker
- Asset
-
Stock
- Symbol
- Type
-
Long
- Pattern(s)
Auto-generated Chart BETA
Notes
Key Takeaways from the Trading Notes:
-
Lower Confidence in B-Side Setups:
- The day's entry was a B-side setup, meaning a retracement to the previous day's entry level. You note that these setups tend to have less confirmation compared to A-side setups (initial, stronger setups), which makes the trade inherently riskier.
-
Untested Demand Zone Imbalance:
- There was an untested demand zone from the previous day on the 1-minute chart, and this imbalance wasn't filled before the trade setup. This absence of a filled imbalance suggests that the setup lacked a key confluence for a higher-probability trade.
- The unfilled imbalance indicates the potential for more downside, which complicates forming a directional bias.
-
Difficulty Establishing a Clear Market Bias:
- Due to the competing imbalances—both to the upside and downside—it was difficult to determine the market’s next direction. This uncertainty made it challenging to trade with conviction or develop a strong bias for either direction.
-
Trade Timing and Opportunity:
- The setup occurred at 4 AM, outside of your typical trading hours. This raises the question of how you could have even participated in the trade, further complicating the analysis of this opportunity.
-
Missed Upside Imbalance as a Potential Signal:
- The fact that the upside imbalance wasn't filled could have been the only reliable factor to help guide your decision. If you had focused on this, it might have provided a clearer indication that the upside move had yet to play out.
Summary of Key Issues:
- Lower probability of success with B-side setups.
- Unfilled imbalance left the trade lacking strong confirmation.
- Difficulty forming a clear bias due to conflicting imbalances.
- Timing (4 AM) made it hard to engage in the trade meaningfully.
For future reference, focus on identifying A-side setups with strong confluence (like filling imbalance zones), and avoid getting caught in setups where the bias is unclear or where the timing makes the trade difficult to manage.
This trading day is by far the most tricky. For the reason being that it was an exact long entry from the prior day entry, which is a retracement and B side setup due to the 100% retracement back to the entry level.
This gives that entry less confirmation of working compared to an A side setup from the day prior.
It also didnt fill the imbalance to the untested 1 minute demand zone from the prior day, which would have added an extra layer of confluence and confirmation. So there is also a chance that this imbalance will be filled in the future. Which could suggest more downside.
So between the imbalance to the upside & the downside, it is currently very hard to develop a trading bias to understand where the market is going to go next.
It also took place at 4AM in the morning
So im not exactly sure how I could have got involved in this trade.
The only thing I could have relyed on is that the imbalance to the upside wasnt filled
Transactions
Date | Side | Amount | Price | Commission | Reg Fee |
Oct. 03, 2024 03:45:00 | Entry | 0.0 | 0.0 | None | None |
Oct. 03, 2024 10:10:00 | Exit | 0.0 | 0.0 | None | None |