We are deep in August summer markets in the indices. But there are still good trades available with a bit of patience and the right trading plan.
I've annotated the places I want to talk about. The chart has some extra training wheels to help with trend identification if you need it.
- from early morning you can see from the cumulative delta that there was buying accumulation going on. My daily prep resulted in me thinking we were going to break up out of the RTH Market Profile of yesterday. The overnight ETH MP had significantly tested the lows of ETH/RTH of yesterday.
- this is the breakout. The MZpack bubble shows the high vol as it took out the high of the setup bar. It did close down but that was an opportunity to buy a few ticks better,
- this was the climax where stops were hit and a good place to exit. We had yet to test the breakout.
- nice outside in reversal as strong order flow to the downside showed itself.
- exit hare at the mean to which we had reversed.
Again, 2 trades and done for the day.
No comments:
Post a Comment