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Spikebuck77's trading journey


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Spikebuck77's trading journey

  #11 (permalink)
 
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 spikebuck77 
Britton, Michigan
 
Experience: Intermediate
Platform: Ninjatrader
Trading: CL and ES
Posts: 65 since May 2011
Thanks Given: 213
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6E traded to the top of the balance range in the London session. I will be looking for a rotation down in the pit session for buyers to take it back up to 1.1429

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  #12 (permalink)
 
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 spikebuck77 
Britton, Michigan
 
Experience: Intermediate
Platform: Ninjatrader
Trading: CL and ES
Posts: 65 since May 2011
Thanks Given: 213
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Yesterday the market rotated up to test the London session VPOC at 1.1400 and sellers came in to take us lower. The market is in intermediate balance and we now have converging trendlines on the daily chart. The market is building up energy for the next move, whether it be higher or lower. Because we are in such a tight consolidation at this point, there is nothing for me to do until the market breaks out of this range and holds.

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  #13 (permalink)
 
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 spikebuck77 
Britton, Michigan
 
Experience: Intermediate
Platform: Ninjatrader
Trading: CL and ES
Posts: 65 since May 2011
Thanks Given: 213
Thanks Received: 28


In the London session 6E popped out of the converging trend lines on the top, but could not hold prices. It looks like we are ready for a breakout from here. If there is any substantial news released to today on Greece, it may be the fuel needed to carry us out from this consolidation.

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  #14 (permalink)
 
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 spikebuck77 
Britton, Michigan
 
Experience: Intermediate
Platform: Ninjatrader
Trading: CL and ES
Posts: 65 since May 2011
Thanks Given: 213
Thanks Received: 28

After a failed break to the upside, 6E closed the pit session at the trend low. In the London session it broke lower and tested 1.300 but thus far it is a balanced profile. The balance makes sense as the news based on a report of plans for a Greek exit from the EU. This is different than news that Greece IS leaving the EU. Will be looking for shorts, but somewhat conservative until we get more signs we are in imbalance.

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 spikebuck77 
Britton, Michigan
 
Experience: Intermediate
Platform: Ninjatrader
Trading: CL and ES
Posts: 65 since May 2011
Thanks Given: 213
Thanks Received: 28

My downside targets are 1.267 and 1.1233

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  #16 (permalink)
 
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 spikebuck77 
Britton, Michigan
 
Experience: Intermediate
Platform: Ninjatrader
Trading: CL and ES
Posts: 65 since May 2011
Thanks Given: 213
Thanks Received: 28

This was my first loss in swing trading. I didn't digest the news in the same way the market movers did and took a hit. The loss was small so I will be back. It's days like this that it's good my scalping put me in the black.

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  #17 (permalink)
 
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 spikebuck77 
Britton, Michigan
 
Experience: Intermediate
Platform: Ninjatrader
Trading: CL and ES
Posts: 65 since May 2011
Thanks Given: 213
Thanks Received: 28

Friday, the 6E rotated up to retest the breakout area. It has seen a steady sell off in the London session since Friday's test. From an auction perspective, the upper balance range broke out and was retested and rejected so I am expecting further downside price discovery. Downside targets would be 1.1281 and 1.1233

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  #18 (permalink)
 
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 spikebuck77 
Britton, Michigan
 
Experience: Intermediate
Platform: Ninjatrader
Trading: CL and ES
Posts: 65 since May 2011
Thanks Given: 213
Thanks Received: 28

6E started off with an open drive up and made small rotations down working it's way higher. 1.1361 was the price it sold off from in the London session and that area proved to activate sellers in the pit session as well. The composite HVN at 1.1320 is holding the market up for now. It still looks like we have more downside to this but it will likely take surprising news to move us out of here.

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  #19 (permalink)
 
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 spikebuck77 
Britton, Michigan
 
Experience: Intermediate
Platform: Ninjatrader
Trading: CL and ES
Posts: 65 since May 2011
Thanks Given: 213
Thanks Received: 28

6E traded sideways in the London session. My overall bias for the pit session will be neutral with a downward skew.

My downside targets are 1.310 and 1.267.

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  #20 (permalink)
 
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 spikebuck77 
Britton, Michigan
 
Experience: Intermediate
Platform: Ninjatrader
Trading: CL and ES
Posts: 65 since May 2011
Thanks Given: 213
Thanks Received: 28


6E took out our first downside target today and then returned to mean. If you take a look at the London and Chicago session you will see we are hovering around a CHVN. This chopping behavior is expected here.

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