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How would you annotate this chart?


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How would you annotate this chart?

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  #1 (permalink)
 Mich62 
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This thread is meant to be a kind of repository for all kind of annotated charts.

Anyone can post a chart, with or without indicators, so people can give their interpretation/analyses in order to locate the best opportunities for trade entries & exits.

Do you wonder how someone else would interpret a chart? Just post it here.

No rules on which instrument, time frame or method to use.

The next post will be the first chart to annotate.

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  #2 (permalink)
 Mich62 
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Below a 1m chart of the NQ of last Friday July 16th (RTH session).

How would you annotate this chart using Technical Analyses in order to locate the best opportunities for trade entries & exits?

Do you think this naked chart would be tradable (without using indicators)?

Later on I will post my interpretation.


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 Mich62 
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Here is my interpretation (see chart).

There were 10 with-trend breakout pullback (BOPB) entries which led to a profitable trade.

Then there were 7 breakout failure (BOF) entries of which 4 were successful countertrend (scalp) trades (1, 2, 5 & 7) and 3 successful with-trend trades (3, 4 & 6).

Particularly interesting were the 4 measured moves (MM).

210716_NQ_1m_Annotated

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 trendisyourfriend 
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Mich62 View Post
This thread is meant to be a kind of repository for all kind of annotated charts.

Anyone can post a chart, with or without indicators, so people can give their interpretation/analyses in order to locate the best opportunities for trade entries & exits.

Do you wonder how someone else would interpret a chart? Just post it here.

No rules on which instrument, time frame or method to use.

The next post will be the first chart to annotate.

Here is mine but this is with the benefits of hindsight, nevertheless it illustrates what i am looking for. Many markets were red last Friday so it helps when you need to consider a short or a long:

Price tested the prior day value area high, which was a good level to consider a short given the prior day weakness. From there the natural destination was at the minimum, the prior day VWAP and potentially a visit to the other side of the value area, i.e., value area low of -1 SD band. A long could have been attempted there but knowing myselft i would not have gone long but would have preferred to wait for more continuation down. The current developing VWAP is a sweet spot to consider a continuation trade although it was getting late on a Friday afternoon. Difficult to tell if i would have reloaded my gun there that late in the day. ANother area where i would have considered going short was at the developing value area high or +1SD band. There was some nice confluence there with the prior day VWAP.


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 Rrrracer 
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To be clear, @trendisyourfriend, you are calling a +1 SD a VAH, and a -1 SD a VAL? Cool to think of VWAP as a kind of rolling profile.

I think this is a great idea for a thread. Seeing how various traders mark up the same charts differently could be pretty mind expanding.

I'd like to play but still figuring out what charting software I want to use next

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 Mich62 
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trendisyourfriend View Post
Here is mine but this is with the benefits of hindsight, nevertheless it illustrates what i am looking for. Many markets were red last Friday so it helps when you need to consider a short or a long:

Price tested the prior day value area high, which was a good level to consider a short given the prior day weakness. From there the natural destination was at the minimum, the prior day VWAP and potentially a visit to the other side of the value area, i.e., value area low of -1 SD band. A long could have been attempted there but knowing myselft i would not have gone long but would have preferred to wait for more continuation down. The current developing VWAP is a sweet spot to consider a continuation trade although it was getting late on a Friday afternoon. Difficult to tell if i would have reloaded my gun there that late in the day. ANother area where i would have considered going short was at the developing value area high or +1SD band. There was some nice confluence there with the prior day VWAP.

Thanks, great chart perspective. To be clear, mine is with the benefits of hindsight as well (otherwise I wouldn't be posting here but navigating my yacht around the world ). I think the challenge is in reading and trading it live successfully. With enough practice it should be possible.


Rrrracer View Post
I think this is a great idea for a thread. Seeing how various traders mark up the same charts differently could be pretty mind expanding.

Yes, that's exactly the idea. New and more experienced traders can see how others interpret a chart and maybe adapt something which resonates with them.

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 trendisyourfriend 
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Rrrracer View Post
To be clear, @trendisyourfriend, you are calling a +1 SD a VAH, and a -1 SD a VAL? Cool to think of VWAP as a kind of rolling profile.

I think this is a great idea for a thread. Seeing how various traders mark up the same charts differently could be pretty mind expanding.

I'd like to play but still figuring out what charting software I want to use next

Exact, i used to do my TA with the developing value area displayed as a channel and looked at VWAP as a secondary confirmation tool but today i have eliminated the volume profile channel from my charts to only keep VWAP. They both show about the samethings anyway though with some minor differences. I think more people look at VWAP these days. When i started in 2009 volume profile had an aura of superiority and was used by the minority. In my opinion, this has changed and more people look at the VWAP than at value area using volume profile.

You can learn a lot about VWAP from this thread:

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