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Daily Recap | PnL: +$7,276 | 180 points caught on stream — Transcript

by Christopher Creamer | Orderflow Trader · 2,952 words · 420 segments · language en · Watch on YouTube

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0:00What's up? It's Thrax. We're going to go
0:01over a daily recap today of what exactly
0:04we were looking at and how we try to
0:06take advantage of it and how we actually
0:07ended up on the day. So, today's Friday.
0:10It is July 31st. It's actually the end
0:13of July. Now, something I want to bring
0:15up first is I'm currently number one in
0:18the Robin's Cup for the monthly. Let's
0:20cross our fingers. Let's hope. I'm up
0:23100%. I'm done trading the account.
0:25Today is the last day, but we can see
0:27that this is only been updated for July
0:3029th. So, there's yesterday and today
0:33both that had huge moves. I'm really
0:36hoping that nobody is going to hit a
0:38buzzer beater on me, but if they do, you
0:41know what? At the end of the day, we
0:42still took our live account. We made
0:44100% returns on it. It is what it is,
0:47but a trophy would be pretty cool. So,
0:49hopefully we get one of those, but it's
0:51out of my control at this point. I've
0:53already did what I could do. I tried to
0:55do what I could do and we'll see how
0:57that goes. Now, in terms of what we
0:59ended up doing today, well, today we
1:01traded some of our funded accounts. We
1:03ended up catching 180 points on stream
1:05with Profit for Match. So, we're up
1:06about $3,100.
1:09It was across three of our funded
1:10accounts that we have. And then, we were
1:12also trading some of our evals, which
1:15we're up about $4,171.
1:18And that's really from the overnight.
1:19So, about, you know, 7,000 P&L, $7,000
1:23P&L, but you know, let's be real. Who
1:26cares about the evals? We don't really
1:28care about the evals. We really care
1:30more so about the funded accounts. Now,
1:32there are funded accounts I didn't trade
1:34today, but I had nothing else planned in
1:36terms of the pre-market plan or the
1:39outlook. So, let's actually go over what
1:42I was waiting for, what I was looking at
1:44before market open, and then how we
1:46tried to take advantage of it during the
1:48session while I was streaming, and how I
1:50try to execute on it in terms of trades.
1:52Now, I want to take a quick break to
1:53talk about the sponsor of this video,
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2:50So, if you want to check them out, use
2:52code Thrax or click the link below. Now,
2:54let's get back into the video. So,
2:56first, pretty simple outlook, okay?
2:59Um we were currently this morning
3:01sitting inside of premium of the higher
3:04timeframe range that has been doing this
3:06value down structure, and we were
3:09watching to see if we were going to see
3:10any type of responsive selling activity
3:13to actually reengage
3:15for that value down structure or for
3:18this bearish structure we've had on the
3:19higher timeframes to actually stay
3:21intact. I'm going to show you in a
3:22moment. And premarket, while I was
3:25writing this out, we were making an
3:26attempt lower. We ended up coming and
3:28curling back up into the open, and then
3:31we'll talk about what happened. Now, for
3:33an upside scenario, the main line in the
3:36sand for the upside scenario today was
3:39if buyers could accept past 28,620,
3:43and if we have acceptance past the 620
3:46area, what we needed to see was we
3:48needed to see sellers try and reclaim
3:50that area and failed to.
3:53In the event that they fail to reclaim
3:55that level, then we could be seeing
3:57further upside expansion. Now, to the
3:59downside, what we're watching is we're
4:01watching the 420 area, 28,420.
4:05In the event that we push to the
4:07downside, right, we lose 420 and we have
4:10it with acceptance, meaning we drop
4:12below 420, buyers try and reclaim that
4:14level and they fail, then we can be
4:17watching for us to make our way down
4:18towards that HVL level that we had with
4:21Tanuki trade at 28,240. Now, there was a
4:24potential for a rotational style
4:28uh session this morning. Obviously, it
4:29didn't play out, but I have to have it
4:32as one of the scenarios. It's basically
4:34for us having potential two-sided
4:36rotation in between the 620 and the 420
4:38area, about 200-point range. And that we
4:41could potentially, you know, make a move
4:44down, attack the lows, and then bounce
4:46back up into the range, and then
4:47potentially consolidate for the rest of
4:49the morning. But, the most important
4:50thing for the morning, though, is that
4:52we're currently balancing out. When I
4:54was writing this out here, we were
4:55currently balancing out in a higher time
4:59frame premium after a pretty large pump
5:01from yesterday. So, the three scenarios
5:03were kind of like this. We We're
5:04watching this 420 area, we're watching
5:06the 620 area. In the event that we
5:09actually accept above here, meaning we
5:11push above here, strong closure, sellers
5:13try and step back in, and they fail,
5:14then we can see continuation to the
5:16upside. Uh full targets to the upside
5:18was like 765 as well as uh a cash
5:22session from
5:24a previous cash session value area high,
5:26which was sitting at 822. There was the
5:29potential that we actually stayed
5:30contained in here, at least for the AM
5:32session, and then potentially broke out
5:33of here during the PM session. And then,
5:35of course, for the downside scenario, we
5:39get below this 420 area, we come back
5:41and retest it, buyers fail to reclaim
5:43the 420 area, and then we begin to see
5:45our further drop lower towards that 240
5:47area. So,
5:49let's talk about what actually happened
5:51and how we tried to take advantage of it
5:55when we were executing our trades today.
5:57So, this is important, okay? Immediately
5:59off the open, here's the open, we're
6:02pushing up pre-market. We're kind of
6:03having this mean reversion behavior
6:06balancing out and we begin to push up.
6:10Now, initially we push up and we have a
6:12very strong push past the 620 area.
6:16So, automatically in my head I'm
6:17thinking to myself, okay,
6:19we could be making our move to the
6:21upside, but I have to wait and see
6:22because just because we close above 620
6:26doesn't mean that we're having
6:27acceptance above 620. I need to see
6:30sellers come back into this area, try
6:33and reclaim back into the range, and
6:35fail. And on the event of that failure,
6:38then we can be watching us come up
6:40towards 765 and further up here towards
6:43822. But, what did we end up seeing?
6:45Well, we push up aggressively at the
6:47open and we immediately slam back down.
6:50Now, once this candle actually closed,
6:53it was not looking good for the upside.
6:55Why? Because sellers attempted to
6:58reclaim the 620 area and they actually
7:00were successful in it. They didn't fail.
7:02We got back into the range. So, while
7:05this 5-minute was opening up, I was
7:07actually watching a 1-minute chart. Now,
7:10let me show you the chart that I was
7:12watching here. So, here we are, we're
7:13kind of opening around this 560 area.
7:16What I wanted to see is I wanted to see
7:19aggressive participation from the buyers
7:22step in and fail, meaning that this
7:23momentum is going to continue lower. And
7:26so, we open up around here, we see
7:28aggressive participation of the buyers,
7:30we see orders coming in, and they
7:34weren't able to actually push price
7:35higher. So, the moment that we begin to
7:37flip bearish, so we push up, we have
7:40some aggression here from the buyers.
7:42They're not getting anywhere. It's
7:44really strong momentum to the downside
7:46that's starting to build at this point.
7:48We start to flip bearish. Once I saw the
7:50buyer failure, we start flipping
7:51bearish, I go short. Stop just right
7:54above buyer failure. Now, the full
7:57target according to the plan was what?
8:00Well, the full target was the 240 area,
8:02240 to 250, which is sitting around
8:05here, 250 to 240.
8:08As we begin to push lower,
8:10of course, we have this 420 area. And in
8:13the outlook, I'm talking about how this
8:16420 area is somewhere we might actually
8:18catch a little bit of friction. So, I'm
8:20paying attention. I'm getting ready to
8:21potentially trail my stop loss. At this
8:23point, we're already up about 100 points
8:25or so from our entry. It was a little
8:26bit lower. We waited for the
8:28confirmation. We start dropping. We're
8:30about 100 points in profit. We're in
8:32this area where I consider it kind of
8:34like a danger zone in terms of
8:36potentially sweeping Asia lows and then
8:39ripping us back into the range for
8:41potential mean reversion style behavior.
8:43So, the moment that we push up on this
8:44candle, we begin to drop. I actually
8:47ended up trailing my stop once we took
8:49Asia lows to the open of the 5-minute
8:51candle. Unfortunately, you know, full TP
8:54was down here for about 250 points. Did
8:56come back up. It just barely kissed my
8:59my trailing stop on the cheek and then
9:02continued to move down. Now,
9:04at that point, we were taken out. We
9:07secured about 100 points on that trade.
9:09It looked something like this. Okay, the
9:11trade looked very similar to this.
9:14We had stop here.
9:16We got taken out here for about a 2R.
9:19That's what the first entry looked like.
9:20Now, according to the plan, according to
9:23the pre-market outlook, we're still
9:25watching 420. Now, what do we begin to
9:28see once we actually approach this 420
9:31area? As we're right here on the charts,
9:34we're watching around 420. Okay, so same
9:37area between 420 and 400. What we want
9:41to see in this scenario is we want to
9:43see if buyers can actually reclaim this.
9:45Now, we see pressure from the buyers. We
9:47see them coming into this area, but
9:50they're not being able to actually
9:51reclaim 420. Now, in the event that they
9:54reclaim 420, then I'm going to start
9:57thinking that we're potentially going to
9:59have that mean reversion style behavior
10:01that I was talking about. Come back into
10:03the range, kind of bounce in between
10:05that 200 point range, at least for the
10:07AM session. But, sellers were defending
10:09this area. Buyers failed to get above
10:12this area. So, then what did I end up
10:13doing? Well, I ended up actually taking
10:15another short. So, in this case, I took
10:18another short. And it was basically a
10:20one-to-one.
10:21Um we got out for basically a one-to-one
10:25R
10:26with five micros.
10:28We were trying we we started bouncing
10:30around a little bit. We hit my trailing
10:32stop loss because we were seeing on the
10:34charts at this area. Let me pull up the
10:36other chart. We were having selling
10:38pressure getting absorbed here. Now, we
10:41care more about the buying pressure
10:43failing, but we do need to take this
10:44into account. So, when I start seeing us
10:47push aggressively at this area after
10:49taking Asia lows, and sellers are really
10:52struggling to push lower, well, as we
10:54started to push down back into this
10:56area, well, I'm moving my stop loss and
10:59I'm trailing it because I'm looking for
11:00us to break it. And when we break it,
11:02we're probably going to break it fast.
11:04Unfortunately, you know, I trailed it a
11:06little tight. We ended up hitting me out
11:08for about 30 points or so, and then we
11:10continued to move lower. So, then at
11:12that point, we're up on the funded
11:14accounts. You know, we caught about 100
11:16points. We caught about, you know, 30
11:19points with this move, and we're
11:20waiting. We're waiting at this point. We
11:22come down to that 250 area, the 240
11:25area, which was the HVL that we marked
11:27out pre-market. But, we also have our
11:29eyes set on a further area down. Now,
11:32this was not a part of the pre-market
11:33outlook. Now, why am I paying attention
11:36to this 28,080 28,040 area? The entire
11:41week, this has been the most important
11:43level on the map. Why? Because when we
11:46begin to basically balance out in this
11:49area, buyers are testing this level over
11:52and over again. We test it one time, two
11:55times, three times, four times, five
11:57times, six times, and we even have a
11:59very strong reaction out of it. Now, we
12:01come all the way back up yesterday on
12:03this crazy pump we had yesterday, and we
12:05finally break it. Not only do we finally
12:08break it, but we see sellers try and
12:10reclaim this area, and they fail to do
12:13so. And following that, we see this
12:15further expansion to the upside. So, I'm
12:18watching this area. This is an important
12:20level for me, and I'm watching what
12:22happens once we actually get down here.
12:24Now, if we're going to long it in this
12:26area for one, we need a solid amount of
12:28confirmation, and for two, we're not
12:31going for a V-shape recovery. We're just
12:33going for, you know, 50 points, 100
12:35points, whatever we can actually get out
12:37of it, but it's not supposed to be a
12:39home run. It's we're just looking for us
12:41to
12:42catch a little bit of profits,
12:43basically, at a key area if there's
12:45confirmation. So then, once we actually
12:47get down there, what what what do we
12:49see?
12:50We see aggression coming in from the
12:52sellers, right? We see this happening
12:54here. We have aggression coming in from
12:56the sellers. We see negative delta
12:59building. We see large participation,
13:02and they're not being able to actually
13:05continue this move. They're not being
13:08able to continue this move further.
13:09They're running into some problems here.
13:11Sellers are running into some problems
13:13at the most important level of the
13:16entire week. So, we're watching this
13:18selling pressure. We're watching it come
13:20in. We have a large order of 580 orders
13:23come in, and we immediately start
13:25rejecting it. The moment that this
13:27candle basically started rejecting these
13:29orders and start flipping bullish, which
13:31was around here, well, I go long. And
13:33the long position looked something like
13:35this, okay? We go long right here. Now,
13:38in this case, we put the stop down here
13:40below the seller failure, and there
13:42wasn't a hard target because in an event
13:45where we began to squeeze it back to the
13:47upside, we could move it pretty quickly.
13:49So, my goal at this point was to trail
13:51the stop. Now, where I ended up trailing
13:53the stop as we start seeing this buying
13:55pressure stepping in here, okay? We see
13:58pressure stepping in, stepping in,
13:59pressure stepping in, and then we see
14:01pressure stepping in. Now, we're
14:02approaching basically the composite
14:05profile value area high, so I need to be
14:08careful.
14:09So, what do I do? Well, I trail the
14:10stop. I trail the stop right below the
14:12open of this 1-minute candle. Now, what
14:14that resulted in is about a 50-point
14:17take profit or a 50-point trailing stop,
14:19and we get out of it. Now, it continues
14:22up, and we're kind of having this slower
14:23grind up at this point coming out of
14:25this important level this week, but
14:28we're not looking for a home run. We're
14:29We're taking a trade against all of this
14:32aggressive participation.
14:35We just want to get in and get out. Get
14:37what we can get out of it. So, we ended
14:39up getting out for 50 points. We ended
14:41up bringing this group of a of funded
14:43accounts to about $1,000 each, so it's
14:45up about like $3,000 for this trading
14:47group. And then for the evals, we're
14:50we're up like 4,000. So, at this point,
14:52I'm done on the day. We caught about 180
14:55points. We followed the plan. We
14:57understood where we were where we were
14:59at in terms of the bigger picture, and
15:01so this trade ended up looking a little
15:02bit like this for about 50 points,
15:05another one to one. So, we could have
15:07held it, sure, right? You could have
15:09hold this. You could have held it at
15:11least back up to this area here where
15:13where we might actually go and test
15:15later today, but there's no point, okay?
15:17It's Friday. We're green. We caught 2R,
15:211R, one R, three trades, three wins,
15:25about 180 points. That's a great Friday.
15:27That's just a daily recap of today. That
15:30is why I took the trades that I took.
15:32That's how we executed on it on stream.
15:34We will come back next week. I hope you
15:36guys have a great weekend and I will
15:38talk to you guys next time I trade.
15:40Peace.

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