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Day Trading Setups And Chart Time Frame Synchingaround 11:30ct one of the traders in the room mentioned that their win:loss ratio today was below average for them AND how was i doing. i saw that i was around 66% wins which was fine BUT also mentioned that the day had not been a good day for fast chart trading AND that the 66% was made of 52t trades that were not synched with the 120t at 50% - where the 120t and/or 52t-120t synch were actually 100% at the time. chart1-3: what-where were your trades on these charts/time period AND were they synched with the 120t chart or were they only from the 52t chart - what-where were the 120t setups during the same period?
120t red dot: 52t-120t synch sell from the left of the 52t. focus line setup - dc dot shift and lower high into the trade WITH mex flow down on the retrace. 52t green dot - 120t green circle: note the dark blue line-dark blue dot AND the yellow dot before this buy. i would never have bought the yellow dot as a channel/line breakout BUT if this market had up directional strength instead of weakness - i would have done the dark blue dot buy. the trade that was done is a break and hold of the dark blue line - mex flow up on the retest AND done as break2 of the blue line. 52t red dot: with the market direction weakness AND the pmd reject of s1 - i decided to sell the pmd wedge as an initial reverse. this was a 52t loser without a synch 120t setup. 52t green dot: after the short held the area of the buy break AND the 120t channel with ttm still green - i reversed at the blue line AND held the reject of the floor number. this trade ended up working BUT it's not a synch trade with the 120t. the 120t buy would be the blue shift line/green circle - as a pmd failure - there never was a pmd-swing reverse sell on the chart. the blue line/yellow dot would NOT have been bought if flat instead of the 52t buy - this entry would be against the pmd. 120t: 3 base setups - 3 winning trades
the predominant reason for this chart is to discuss the 52t green dot buy AND the immediate move against the trade. long from chart1 into this chart AND with the size of the trade tried to give it some additional room instead of going short at the channel low after the lower high following the pmd - nothing done there and shorted the pause-break of the blue line. after the sell was down - i tried to reverse back lone to resume the left side buy AND right after it started up - it went faster down from what seemed like a very random move in that there was no ticki high on the buy AND i did not have a resistance area in that location. i then reversed back short - on what is no 52t setup whatsoever - just a line break. now note these trades on the 120t chart. to begin with there is NO buy AND it's the sell that is the clearer trade - where that retrace was still with mex down while ttm never flipped AND the ttmf hook back through the focus line. 120t yellow dot: this is a base setup BUT basis direction AND s1 at the dark blue line - i didn't want to do this initial trade. there was a break of s1 buy it did reject/retrace AND then on the break of the blue line with the hook AND after break1 of s1 - i went long at the green circle/52t-120t synch buy. 120t blue dot: this is the first continuation trade AND what i would regard as the actual 120t trade at this time - the break and hold of the focus line with mex opening after the 'pinch'. 120t: 2 base setups - 2 winning trades
long from chart2 - the 52t blue dot buy is a very good example of a pmd failure continuation trade - a good addon setup BUT i wasn't doing a counter addon AND i couldn't regard the day's market to this point as an addon market. 52t red dot: there was another pmd AND a ttm reverse BUT there is no setup to consider at the yellow - the trailing buy was held. i would have liked the pmd-swing reverse setup to have triggered around the blue circle BUT there was no setup there - then the blue line/red dot sell was done - which can be seen clearer as the left channel with the ttmf hook on the 120t. 120t yellow dot: this is the synch with the 52t red dot sell - there is no trade to have done as a 120t trader or 52t-120t synch trader - another one of the 52t only losing trades that i had. 52t green dot - 120t green dot: the sell was exited and flat - this was my next trade as a synch buy - 120t ttmf hook focus line break buy into the double top which broke as a triple top. 120t: 2 base setup - 2 winning trades
you now know that to the right of chart3 was a breakout to the upside AND a reversal of the day's direction - were you long on chart3 AND IF not - when was your buy and what was the setup - also what was the management of the trade?
after the breakout AND the size of the open trade from +698.90 - i was price trailing on the 120t chart instead of trying to get a reverse from the 52t chart. there is no setup at the yellow dot BUT regardless - i would first want to see a reaction at the yellow line as support - before trying a trade right at the area. the line did hold and the chart reversed back into buy with the momentum resumption AND blue line matched price break - i did this resumption as an addon - my first of the day NOT having decided to add yet at the yellow line-blue dot triple break mex rollback which was a good setup. this retrace may have been more giveback then you wanted to accept - IF not for the size of the open trade i wouldn't have done it - of course then the decision probably would have been involved with an actual sell reverse sooner. so IF flat - the blue line/green dot would be your re-entry AND blue dot2 would be your first continuation buy IF not done. 120t: 1 trade - 1 winning trade
Trading Journal Discussion chart1: what-where were your opening trades - were they 52t trades only OR were they synched with the 120t chart - for instance did you do the yellow dot buy AND IF yes - what was your management of that trade? are you long on the last bar of this chart - IF no where was your buy? what-where were the 120t trades on this chart AND where was the next 120t trade to the right of this chart?
52t red dot - 120t red circle: the opening trade was a sell - mentioned in the chatroom i had a hunch that it would be with the movement into the open where we were 'in sell' on both charts. 52t yellow dot1: pmd low and consolidation around the floor number - this trade is an initial reverse AND without 120t synch. i would have done this trade IF the market had retained its strength and the trade was setup with breakout potential for continuation to higher highs - BUT not in this instance. 52t green dot - 120t green circle: when i considered the yellow dot2 buy the trade would have been a channel breakout and right into the left side channel - i decided to see if i could get the break2 and the synch 120t setup-trigger - accepting that i may have to do a first continuation/break and hold type trade. again the decision was first based on trading right into left side resistance. i mention these 2 yellow dots - as they are fast chart losers without 120t synch. i realize that only yellow dot1 is for sure a loser BUT i also know that many traders will react to the immediate reject against them like yellow dot2 and go flat instead of holding which 'should' have been done if traded. 120t red circle: this was the next trade after the buy as a pmd-swing reverse setup where considering direction at the time and that we were at the highs of the day - i didn't want to do the yellow dot breakout BUT did the setup as a triple break.
chart2: the first 50 minutes was 2-way trading with essentially double partial width AND then there was a transition into consolidation-compression. what-where were your trades on this chart AND where were the 120t synch trades at the same time? are you short on the last bar of this chart - IF not where was your next trade?
you can see the 52t trades that i did which was win-lose-win - the only trade that was synched with the 120t was the buy - i replaced the short 'early' after the double top having not done any buy. the 120t synch sell was the yellow line-dark blue dot as a compression break setup - the setup being break2 of the yellow line AFTER the trendline break AND as a shift reject of the blue focus line WITH the slow chart ttmf hook. a winner without 'heat' as the compression did break and took out the dark blue dot breakout points.
chart3: did you do either of the yellow dot trades? to begin with these are not method base setups regardless of 'time frame' BUT this is a good example of fast chart only initial trigger trading - where you then get an exit and/or losing trade right before a winning trade. what-where were your trades on this chart AND what-where were the 120t synch trades? do you have a trade open on the last bar of this chart AND IF yes what was the management of that trade - IF no what was your next trade and what was the management of that trade?
52t green dot - 120t green circle | 52t red dot - 120t red circle - 2 52t base setups AND 120t synch setups. the buy is a break and hold of the yellow dot-blue line initial reverse AND the sell is a pmd-swing failure setup synched with the blue line break2 on the 120t. 52t yellow circle: nothing done on the fast chart - no buy OR exit. there is nothing to do here as the fast chart has no setup to consider AND with the slow chart still having mex flow down on the retrace WHICH was a retest of the break area as support - the trade was held. 120t blue dot - red dot: i considered doing this as a right side reject-matched price failure addon into the lows - this actually would have been my first addon for the day. i didn't do this BUT then on the break and hold of the blue line - sold the red dot as an addon - into the lows AND the 710.10 price specific WHICH was pretty much katy bar the door when it broke and held. if we have a 2-way market with 'width' - i want to take each next trade. if we have a congestion market - i can pivot trade if the 'width' is wide enough to partial AND when this isn't the case OR we compress into a lower highs and higher lows - i can't pivot trade and need to wait for a compression break setup. if we have a directional market that consolidates - i can't pivot trade because we have a situation where the market is to directional to reverse BUT the market also won't continue it directional move. AND IF we have a directional market that continues without consolidating - i want to price hold direction as long as i can. i am not looking for fast chart reverses AND IF i can't price hold - i am inclined to first go flat and look for the resumption with direction instead of reversing out of the open case like what is often done in a 2-way market. AND when i can price hold - i am looking for fast chart reverse-resumptions for addon setups.
the day's market had gone from 2-way to compression which resolved to the downside - a tradeable reverse AND then back into sell - AND the market crapped out becoming a strong directional market. every retrace on this chart to the area of the yellow circles were all dc price holds - that would correlate with fast chart reverses - that not only should not have been bought BUT also not exited basis direction AND the 120t chart.
chart1: to begin with - why do you think that i have selected this chart to discuss? what is the market condition 'coming into' this period - what-where were your trades - were they base?
why did i select this chart: because it was a good trading swing that included an addon BUT could not be traded on the fast chart alone. red dot1 - blue dot: the 120t shows this as a pmd initial reverse BUT it was synched with the 52t shift-reject of the dark blue line-left channel - i sold the failure of this line AND not simply a reject of the dark blue line segment shown on the 52t - IF that was all that i had i wouldn't be short yet. do you see a first continuation setup on the 52t OR do you see a ledge break against the pmd? look at the 120t AND a very good first continuation setup - the shift-reject of the 120t dark blue line as resistance AND as break2 of the blue matched price WITH mex flow. again a base setup that you 'need' the 120t chart to see. red dot2: did you see this as an addon setup OR as a consolidation breakout? again i got my setup-clarity from the 120t AND the reject-failure combination of the 848.10 line - triple break of the 2 yellow squares-dark blue line matched price - still with room to the 'bottom' of the diagonal WHICH was also key as our open price 847.10. trade results = -848.90 +847.90/+848.10/+846.50 | -847.40 +846.30/+846.30/+846.20 = +72 ticks per 3 contracts - in a situation where the right side only-fast chart trader may not see a trade setup.
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