dreezyreeve's /MNQ Trade Planned

Trade Detail

dreezyreeve's /MNQ Trade Planned

Trade Details

Published

Nov. 11, 2024, 9:19 p.m.


Status
PLANNED

Portfolio(s)


Broker

TopstepX

Asset

Future

Future Date

Nov. 11, 2024

Future name

/MNQX24

Symbol

/MNQ - View rating


Type

Long

Pattern(s)

1 Minute Displacement FVG (Short), 1M Bullish Orderblock Long, H2 Bearish Trend Shift, H2 Bullish Trend Shift, M15 Bullish FVG (Long), M30 Bullish FVG (Long), Sweep of Prior Day SSL,

Featured Image / Proof

Stats

Entry CPU Exit CPU Fees Max Amount Max Cost P&L % P&L $ P&L With Fees
0.0 0.0 0.0 0.0 0.0 unrealized unrealized unrealized

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Notes

Here are the key takeaways from your notes today:

  1. Reassessment After a Break:

    • Returning after a two-week break provided a reset after October’s challenges. The contrast between September’s strong results and October’s challenges underscored the importance of managing confidence, lowering trading volume, and refining entry rules.
  2. Focus on Confirmation and Discipline:

    • Today, you focused solely on waiting for full multi-timeframe confirmation in a clear direction, which led to no trades taken, emphasizing your disciplined approach and commitment to waiting for high-probability setups.
  3. Order Block Levels & Key Price Areas:

    • You identified significant market structure points, such as untapped bullish and bearish order blocks, fair value gaps, and high/low of day levels, which you naturally focus on for possible setups.
  4. Market Observations Without Execution:

    • Despite recognizing potential entries, including a 1M bullish order block with high R/R potential and a 1M bearish fair value gap for shorts, you held back due to higher timeframe uptrends after recent highs. Your caution in avoiding countertrend trades despite tempting setups shows improved risk management.
  5. Complex Structure in Price Action:

    • The session’s movements highlighted complex interactions between order blocks and fair value gaps across multiple timeframes (e.g., 2H, 30M, 15M, 5M), and your decision to wait for a 2H trend reversal confirmed your focus on larger timeframe alignment.
  6. Learning from Price Action:

    • Although you didn’t take a trade, you gathered valuable insights by observing the tape. These observations, like the overnight trend shift and the 2H resistance hold, deepen your understanding of price behavior and help refine future entries.
  7. Potential Long Setup:

    • The long trade opportunity formed after the prior day low sweep and liquidity grab, with confluence from untested bullish fair value gaps and order blocks on the 15M and 30M timeframes, but you refrained as it lacked clear 2H trend confirmation.
  8. Patience and Selectivity:

    • This session showed patience in waiting for complete confirmation across multiple timeframes and avoiding forced trades. The identified setup potential for future reference highlights your selective approach to refining trading strategies and recognizing high-probability areas.

These takeaways reflect a more methodical and cautious approach post-break, focusing on high-probability trades with strong multi-timeframe alignment and robust risk management.

 

 

 

 

 

 

 

Today was my first day back to trading after taking a 2 week break. After a wild month in October, failing my express funded account after having one of the best account challenge evaluations the prior month of September.

Everything I did in the month of September stopped working in the month of October, and that was a big slap in the face of reality for me. That I can never become too overconfident, and I have to dramatically take steps to lower trading volume, fine tune rules for entry, and continue further building out this trading strategy.

One thing that my subconscious mind graviate towards, is Orderblock levels, and High of Day/Low of day levels. So I simply came back to the computer today, with the mindset that I was going to wait for full, total & complete multi-timeframe confirmation in a specific direction before taking a trade. 

And that resulted in me not taking any trade at all today, and just simply reading the tape. Although, there may have been an entry model today that was provided, but I wont know unless it completely plays out and then i can add it again the future. 

 

But todays price action was as follows...

The market opened up at 6PM yesterday on a gap up, with no lower wick. So between the gap, and us not getting any pullbacks for a solid long, I decided not to participate in any long trades. And the market didnt get full confirmation for a trend shift until the shift of the 2 hour chart after moving to the downside, and from the trend shift, there was an untapped 1M bullish orderblock, that setup a massive risk reward opportunity trade with virtually no drawdown, and a 70 point move to the upside. 

Now with that being said, that 1 minute bullish orderblock, actually acted as todays perfect area for a short, AFTER there was a 1 minute chart bearish fair value gap displacement to the downside through that area. But the reason I didnt want to take a short, was because all timeframes were pointing up, as we have just broken out to new all time highs on indicies upon the Trump win for presidency in 2025. And another thing to note, is that the 2 hour trend shift level that provided the long side trade in the overnight session, actually held as resistance upon the 9:30 open prior to the downside displacement on the 1 minute chart, creating the bearish fair value gap entry model for a short. and it also happened as the 2 hour candle had a shift of trend from the prior green candle to the downside, also known as a candle variation. 

And as price action played out, it wound up sweeping the prior day low to the downside, and created that potential long side entry model with the confluence between the 15 minute and 30 minute bullish fair value gaps.

The only thing is that I didnt want to take those longs either, because I was still waiting for confirmation of the reversal of the 2 hour downtrend again to the upside.

Funny thing is, there are still 5 minute and 1 minute orderblocks and fair value gaps below that have went untested, which is the reason why I didnt take the long trade either. 

The 5 minute bullish fair value gap entry, aligns with the stopout of the 30 minute chart candle. 

 

The long that was presented OTD was the first retest of the first timeframe that aligned with the move up after the sweep of liquidity of the prior day low. 

And there was an auction between a newly created bearish 30 minute orderblock, and a bullish 30 minute orderblock trend shift that took place against that bearish orderblock.

what happened next is that after the bullish 30 minute orderblock was created, it rejected off of the bearish 30 minute orderblock, to come back for a break and retest entry on a 15 minute bullish fair value gap, that was in exact confluence with the untested 30 minute bullish orderblock for the perfect long entry. 

This was prior to shifting the bearish trend of the 1 hour and 2 hour charts on the day. 

Transactions

Date Side Amount Price Commission Reg Fee
Nov. 11, 2024 21:19:32 Entry 0.0 0.0 None None

BILI 283.53

Portfolio(s): Toby,
Last entry Jan. 12, 2023, 10:48 a.m.

PRQR 2.55

Portfolio(s): Active Trade,
Last entry Dec. 22, 2022, 8:31 a.m.

APM -76.77

Portfolio(s): Day Trading Momo,
Last entry Jan. 20, 2022, 8:39 a.m.



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