Gentle Trader

Professional traders reduced the accumulated short inventory from 140k to 130k.

I had commited all day long to a meeting, so I was not supposed to trade. Day started with a sell off right to 1201.75, precisely touching a LVN in my composite chart. Text book!

First trade of the day could have been done right after sell off, when ES started to bounce:

Another long setup:

Then the market went sideways until the end of the day. I arrived in my desk at that time and tried to trade “just to make my daily target”. Wrong decision that costed me a few hundred bucks. Not really any setup was triggered, but I had in my mind I had to make the daily target. This completes second loss in a row.

All long positions from monday were capitulated. Short inventory is being built and holds about 140k contracts short.

Day started with a push back into previous day POC (point of control), recovered clearing the high of the year and then traded in a down trend during the whole session.

First setup was a long taken after previous day POC test:

Second setup was a short:

Third setup, another short (beautiful!):

Last trade was a long. Bad one. Took my previous profit and made me a little loss for the day. The long entry was ok, but I was over confident of my setup and didn’t stopped out. Description of the trade inside the picture.

Buyers from friday’s low gave up as ES traded lower. After this long inventory was grabbed, a new long inventory was made. The market makers are doing their job nicely!

Cumulative volume profile show us the value being built between 1215 and 1222.

First short of the day (before regular time session):

As regular session starts, 2 great setups came into play: 1 long setup and 1 double short setup.

Another 3 setups happened later, 2 longs and the final short that I twittered live.

After a long period out of this blog, I’m back to register my trades and vision about the market. I plan to post everyday an overnight analysis and also every trade I take during regular session.

This sunday night the buyers from friday lows are still holding their positions.

Composite volume profile:

Big picture:

Details: