Buying Absorption, key levels,

Premarket plan: ES in the bigger picture is making higher highs which shows that bulls are in control. My idea is that pullbacks should be getting bought up. With that being said I am watching for a pull back into 4414-4407 to gauge the market to see how it reacts. It has been an area where buyers have been interested and many rallys higher have happened. If we are able to pull into this level and see strong buying I am willing to go long targeting the next supply at 4430 which is a daily demand zone. However, if we do see selling through this level, I am interested in playing the market short targeting the lows of yesterdays action and then demand lower. 

Market Context: Market opened up and pulled into 4416 where there was a large passive order. It got filled with a lot of selling but no move lower. A few minutes later it pulled into that level again, broke the lows, and rallied once again showing that there are trapped sellers at the low. It was not a few minutes later that market pulled back into that level and showed better signs of buying.

Where/Why did I enter: I entered around 9:48 where I saw the 3 pullback into that level that absorbed the bid. I was interested in playing long for mulitple reasons: Delta was showing lots of selling at lows, Was at a key level, and every push lower followed with stronger buying

Where/Why did I exit. I was looking for the opening high to break in order for me to be more comfortable with the trade as I knew that we were in low volume conditions and we have to keep our targets smaller. I also know that because there was low volume it could be a case of "Stairs up Elevator Down". We pushed into the open and I saw that we had a small pullback. I closed my position in that pullback to be safe.

What I did Right: I had a really good entry at the lows and noticed the selling that was getting absorbed. I was also playing off a key level which was supporting it really well. I was also patient enough to wait for the market to develop a little more before entering in any trade.

How I can improve: One main thing I can improve on, HOLDING MY POSITION. There are many moments where I am leaving a lot of money on the table because of a small pullback. Pullbacks are inevitable and they are bound to happen. There is rarely going to be a shot up into the target level and that is what I need to work on. I got scared from that small pullback at the highs and lost the opportunity of an amazing trade that hit exactly at my target. ONLY CLOSE A POSITION AT STOP LOSS OR TAKE PROFIT. A PULL BACK SHOULD NOT SCARE YOU JULI

 

Delta profile, key levels, pullback, Volume Profile,

 

Thesis: Get Long above 4134 which is a key level and I would not like to see it act as resistance

Market Context: We sold off below 4134 but my ideal play is always a retest. However I noticed strong buyingn at the lows (4170) and sellerstrying to push lower but would get bought up. Where/Why did I enter: I actually took two trades. First trade I took a trade speculating strong buying above 4134, however we broke above it with strong buying volume but no continuation which is a red flag in my book (do not want to be a trapped buyer). My second trade when we pulled back at 4134-4130. I loved the volume which was represented in these areas and there was a lot of buying as well (delta column). I took the trade @4135 with a 3 point stop loss which is my sweet spot for risk.

Where/ Why did I exit: I exited at my 4185 level which has shown to be a level of support that turned into resistance. I sold 1 contract at the top once we hit it and sold another one once we saw that we could not break above. There was a lot of liquidity at this area as the ask built up the closer we moved to the level.

How can I improve: Honestly I think this was a textbook trade. There is always room for improvement when it comes to trading but I believe this trade was a flawless one which I give a pat on my back for. Perhaps I could have sized up due to the confidence in this trade and this is something I could learn from. Believing more in my trading capabilities.

What I did well: Held to my target. Biggest flaw with my trading as I feel like I go with the motto "Green is green" but for this trade I held to my target. Also patience was really good here as I waited for that pullback.

Confirmations: Strong Buying, Pullback, Huge ask at TP level, Respect of my key level

Entry: 4175 Stop Loss: 4172 Target: TP 1 4185; TP 2 4190 Take profit: 4185 RR: 1: 3.334

key levels,

Thesis: I was watching to see if the market would sell off the key level at 4040 which we saw strong volume in the past days. 

Market Context: We opened up chopping around the 4040 area so the 4040 area was invalidated

Where/Why did I enter: I entered off a a retest of 4040 following a strong red body candle right below 4040.

Where/Why did I exit: I exited at my stop loss as the trade chopped around the 4040 area and was later on invalidated

How can I improve: I believe this was a bad trade from my end because seeing that the market opened up chopping around my 4040 key level was an indication that it was not respecting that level. If I were to enter puts I should have waited for a larger sell off to then see a retest off that 4040 to indicate the strong selling volume.