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dctrade69 Daily Context Journal
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dctrade69 Daily Context Journal

  #11 (permalink)
Elite Member
Springfield, MO
Futures Experience: Intermediate
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Favorite Futures: CL
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Monday NQ Review

Overnight Price opened with a test of Friday's low. Price was unable to sustain a move lower and spent several hours bouncing around between Friday low and the VAL. A second attempt was made at making new lows which again was rejected and price then worked methodically higher until the RTH open.

The RTH session proved to be a nice rotational day with a lot of range to trade within. Price strongly respected the value areas starting at POC, working down to VAL then up to VAH and then nice moving back down to test the VAL again only to close the day back right where we started. I identified several areas throughout the day where I considered taking trades, described below

Trade idea 1 was to short at the open when price rejected the POC/Globex high area. Price rejected this area swiftly and moved directly down to the VAL. One exit idea would be to exit on the higher volume present when price reached VAL. I use a line in the sand stop method (LIS) and on this idea it would have been any close of a 5m back above the globex high for a reasonable risk exit. Initial target would have been expecting price to reach at least VAL, a very positive reward to risk possibility.

Trade idea 2 was a long trade at VAL when a double bottom was formed giving us Failed A down as well. Add the higher low on the second push down and I saw four reasons to consider getting long. LIS for this trade would have been a close back below VAL. This trade would require a little higher risk depending on your entry but with the expected first target area of POC it would still fit into my parameters of reward to risk. Secondary exit points would have been when we approached VAH and stalled on the 5m bars or when saw the second test of VAH forming a double top scenario.

Trade idea 3 was long when price pulled back to the OP. Today could have been considered an A up though VAH made it hard to feel totally confident of that idea. I still liked the long concept and it gave a nice buy setup when it swiftly rejected at OP/POC area. Price moved up nicely but then stalled out short of VAH giving plenty of time to exit if you were not comfortable with the long but still leaving you in the money. LIS was below POC and initial target idea was minimum of VAH which it could not achieve.

Trade idea 4 was short when price pushed through OP/POC, retested and then started lower. This setup gave a nice reward/risk LIS of the OP with an initial target of again the VAL. Price pushed past their nicely and gave an ultimate exit opportunity on a volume spike at the low bar of the day, suggesting exhaustion of the down move.

Trade idea 5 was long after price retraced into value again after potential volume exhaustion. LIS was VAL giving low risk entry with target of POC minimum, which we achieved at the close of RTH.

These are the standard setups I am looking for each day to consider entering trades around key levels.

Attached Thumbnails
dctrade69 Daily Context Journal-nq-06-14-5-min-4_14_2014.jpg  
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  #12 (permalink)
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dctrade69 View Post
Thanks @trendisyourfriend, I have added that info back to my post 1 for everyone to find

Thanks to you. Would you mind posting your template of the 5 min. chart in the 1st post. This way i'll be able to replicate your chart and stop annoying you with basic questions.

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  #13 (permalink)
Trading for Profit
Houston, TX
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Thanks dctrade69

@dctrade69, thanks for allowing me to post my views on your thread. I appreciate it.

Since this is a new thread, a brief intro: I have been trading TST combines in order to get funded since the past year or so now (yeah, thats right ). My primary setups are based on what I learnt from traders that posted on @mfbreakout's thread. But, at the core, I have stuck to ACD. I am here and post for 3 reasons: 1) Documenting setups daily and logging my thoughts helps me internalize my own setups, 2) I hope to learn Market Profile/Volume Profile which is what @dctrade69 and several others here trade and 3) I have done extensive research on ACD and by sharing here I anticipate interaction with others that are interested in ACD and hope to learn more from that.

My primary setup is based on the Asian and Euro session action and long term ACD indicators. Simply put, if price has spent time above Euro/Asian OR, I am biased long and vice-versa. Then, I look at where price opens in relation to the Euro A up area. If price opens around/below Euro A up area, I look for a retrace to EOR to get long. If price opens above Euro A up area, then it may not retrace all the way back to the EOR and I will look for longs from the Euro A up area and then from the EOR area. If price opens all the way or close to the ADR, I will consider shorting the open. If price spent time both below and above the Asian/Euro ORs, I am looking for failures to fade a move. Reverse logic for the other way around. I haven't gone beyond the first trade or two but I mark any setups that follow this initial phase after market open because soon, I want to be able to take those 3rd and 4th setups.

CL Today: We opened below the Euro A down. Price retraced to the Euro A down area/WORL and gave a shorting opportunity minutes before the open. It didnt carry much. I thought we would see the US A down area/ADR low area but we reversed from the ORL all the way back to EOR and US A up area. This formed a failed A up against the EOR (my favorite setup) but we ran out of time. Price eventually did break lower but it was after the pit session close.

ES Today: Opposite of CL with 1 difference. Price opened above the Euro A up but right about where my ADR high limits start. Then we got an Anchor Bar (one of the MFB favorites). This was a short setup around 1823 when price broke below the Anchor bar. Since We had a Euro A up, target had to be at the Euro A up area which was also around the 100 day MA around 1816-1817. There were at least 2 more setups today in the ES.

More details in attached charts.

Attached Thumbnails
dctrade69 Daily Context Journal-euro_a_down_shorts.png   dctrade69 Daily Context Journal-es_euro_a_up.png  
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  #14 (permalink)
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thru the lens of ACD

@LogicalTrader Delighted to see you contribute here thru "the lens of ACD" mr. "resident ACD scholar" (as dubbed by @mfbreakout)

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  #15 (permalink)
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CL Monday

DC, many thanks to you for starting this thread. I look forward to collaborating with you and other traders here.

CL Monday:

I was bias short going into the open of the pit session mostly because the over night session tested the Friday highs and failed and when price dropped pretty drastically and quickly off the OP I was thinking bearishly;

#1 I got short at 10359 on a pull back of the down move that was developing. The down move that I thought would be a lot stronger if it could only break through the ONL. I scratched it when I saw the tides turning with a 6 tick loss;

#2 since I had already been bias short (and missed a nice run to the ORH in the process) of course I was looking for that rotation off the failed A-up; I let the market test the highs a couple times, watched the action and worked on a good trade location with an r/r (risk/reward) that suited me. I expected a much bigger move, it sure felt like a rotational day. I was in the trade for over 45 min and when things started to get choppy I bailed with a small +10 ticks;

#3 I began to realize that the OTF buyer that was present in the market was not going to given in to rotating lower. I looked for a good trade location and r/r and went long at 10387 which turned out to be just the right time as priced moved to 10417. But again, it was disappointing that the move lost steam so quickly, I bailed an hour later with only +12 ticks to show for it.

#4 I got short at 10:32 at 10398 looking again for some conviction, but nothing, after a little while, scratched for +5;

Guess what! My expected rotation down move finally came... right after the RTH closed.

Attached Thumbnails
dctrade69 Daily Context Journal-c91e465cb3835100a0ab415a83b8676d.png  
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  #16 (permalink)
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little pause

Hi dctrade,

thanks for starting a continuation of the old thread.

If I feel I need to post a good setup I will post it here. Apart from that consider myself as a reader.

I hope I am allowed to publish the following message, otherwise send me PM and I will delete it.

Because I am still getting messages about OR, setups, etc.

Please work through the old thread and stay with this new one.

In the old thread you will find everything that is useful and should help you. Everything is explained.

Of course I will answer every PM but my first advice is to read the thread. Not the whole one, as MFB already said, couple of months should be enough.

@dctrade69 I wish you all the best. You are doing a great job.

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  #17 (permalink)
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This is great, thank you for stating this thread, I'm sure it will bring a lot of needed value and knowledge.
Looking forward to it.


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  #18 (permalink)
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Hi dctrade,
great idea to start a new journal as a continuation of the old thread.

If you think my roadmaps, contexts, templates, homeworks, set-ups could be useful I will post them here when I will see something of particular interest, maybe not only on CL but aslo on different futures as ES, NQ, 6E, etc.

Great job mate!

...Patience is not the ability to wait, it's the ability to maintain the right attitude while waiting....
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  #19 (permalink)
Trading for Profit
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April 15th

The past 4-5 days, CL has been pretty predictable at the open. Today was different. The open was bearish for me, although all long term indicators are bullish with 103 area as the first support area. Short term view always overrides the long term view for me at the open. Trade management varies though.

Depending upon entry technique one may or may not have taken a short from the EOR today. If one did, it was a quick and brutal end. Bias immediately shifted long once price broke above EOR and swift hands could have entered long on the small retrace back to EOR. Price made a US A up after breaking over EOR and hasnt been able to break below it since.

ES opened mixed with price having spent time above and below EOR overnight. During such opens, I look for failures to fade opening moves. Rotational context is established.

Details in attached charts.

Attached Thumbnails
dctrade69 Daily Context Journal-cl_acd_analysis.png   dctrade69 Daily Context Journal-es_acd_analysis.png  
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  #20 (permalink)
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EOR open range times in EST

@ LogicalTrader,

I've not been using EOR levels in my trading, but I think it's a good idea and another way to arrive at some meaningful context.

Can you tell me the Euro Session time, and the how much time you let pass to define the EOR, but in EST?

Thanks Logicaltrader for your posts

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