Thursday, November 30, 2017

Open Trades Wrong Directional Later Accumulation



This morning really thought we would have that up day as the distribution yesterday could not close lower and the London session traded above term structure. We were also trading above the perimeter of the overall distribution of the past week.

Therefore off the open, we were in the hunt for POC support long trades. First trade at 57.77 took off like a bandit only to pull back to the protected stop at +1 Tick. The second trade from off POC support could not get off the ground and was a loss of -10 Ticks.

Took time to re-access and the market dropped through major support areas. Had to wait for the afternoon to look for probable accumulation and we traded the market back to term structure levels from 57.15 for a +1 Tick no follow through and the last trade at 57.12 for +15 Ticks. The market would blast off but would come right back from term structure. Price action was challenging today.


Wednesday, November 29, 2017

Buyers Mode Support Long After Inventory Report


Firstly, wow what a drop in the NQ this morning! No Trades.

Crude oil opened this morning below term structure but also didn't break lower on 58.75/50. Yesterday held the 58.08 volume nodes twice so stop losses were parked above. Placed a long trade at 58.83 off the buyer support off the POC after the release of the report with a target of a 58.33 and a stop at 58.65.

Trade was just shy of the 50 tick target at 47 ticks and the stop was placed at the +30 ticks on that fast run-up. The target was never reached and was taken out of the trade at +30 ticks. This price movement to the upside in this trade was motivated by running stops. Notice later the market could not sustain these higher prices after the stops were cleared out.


Tuesday, November 28, 2017

Controlled Crude Oil Missed Opportunity In Nasdaq


Crude Oil:
Obvious price adsorption on any break higher from the open had us short at 57.99 with the stop above the upward volume node.  A heated trade but thankfully it could not clear the 58.08 volume node area which rejected in the afternoon as well. Price did break earlier but could not pass through the POC support which had us protect the trade and exit of a +2 Ticks.

With POC support in the first trade, not allowing lower prices, the behavior and the quick rejection of lower prices had us place a long trade in favor of the POC at 57.90. It traded sideways for a while but did make it up to the 58.08 volume node area but again could not reach higher prices. Protected the trade with a +1 Tick.

Nasdaq:
First trade in the NQ was at the lower volume node with showed multiple prior rejections. Entered the trade at 6412.50 long and traveled well above 6424. Price reached above 6418 which at that point rotated the stop loss for a +1 Tick. Price reached down touched the stop loss before its move higher.

Second NQ trade was the reversal at the top of the market at 6422.50 with a target at the POC once it showed that it could not pass. Took profit at 6418.50 The NQ made a reversal at the POC and allowed us to take the long trade to the upside at 6420. Looking for a new high but failed which we exited the trade at 6425.

Monday, November 27, 2017

Distribution Break Stop Out Setup POC Shift Long


At the 58.13 Volume Node, we looked for a bounce back to the upside when buyers showed support after the POC shift. First trade at 58.21 was stopped out with downward momentum as supply entered the market on the break of the low of the overnight distribution.

Price found support between the 57.60 Volume Nodes and prior evident supply was exhausted. POC shift again in support of the buyers setup the 57.77 long.