been looking at ym on 133 tick chart looks good stop 10 getting 13 seems easy
First Trade(s)
Often ES NQ and YM are all correlated and move in similar manners so typically I will look at ES for a hint at what direction the market is trying to move in. In the first picture you can see that as price struggles to climb the Cumulative delta continues higher. What this is telling me is that a lot of buyers are smashing into limit orders. In other words, institutions are trying to fill their short orders. This gives me a SHORT bias.
I thought I saw a 123 form on 1589 chart so I used that as my short entry.
However, looking at a smaller time frame it wasn't a 123 because the 3rd leg did not make a lower low.
After this fake breakout I had an opportunity to get flat for the day with a long 123 setup. Unfortunately because of my short bias, lake of confidence and buying the top I did not take this trade.
I had another opportunity to get back into a short trade but I just missed it and it took off without me. This opportunity came from a cumulative delta bar chart in combination with a YM range chart. Typically the NQ and YM are market order drive unlike the ES which is limit order driven so the cumulative delta doesn't serve a lot of purpose. Its only when you get and abnormally large cumulative delta bar (In the 150+ range) in combination with a small cumulative delta bar (less than ~50) and inversed as a signal.
Often ES NQ and YM are all correlated and move in similar manners so typically I will look at ES for a hint at what direction the market is trying to move in. In the first picture you can see that as price struggles to climb the Cumulative delta continues higher. What this is telling me is that a lot of buyers are smashing into limit orders. In other words, institutions are trying to fill their short orders. This gives me a SHORT bias.
I thought I saw a 123 form on 1589 chart so I used that as my short entry.
However, looking at a smaller time frame it wasn't a 123 because the 3rd leg did not make a lower low.
After this fake breakout I had an opportunity to get flat for the day with a long 123 setup. Unfortunately because of my short bias, lake of confidence and buying the top I did not take this trade.
I had another opportunity to get back into a short trade but I just missed it and it took off without me. This opportunity came from a cumulative delta bar chart in combination with a YM range chart. Typically the NQ and YM are market order drive unlike the ES which is limit order driven so the cumulative delta doesn't serve a lot of purpose. Its only when you get and abnormally large cumulative delta bar (In the 150+ range) in combination with a small cumulative delta bar (less than ~50) and inversed as a signal.
Second Trade(s)
I noticed another 123 setup on the 1589 chart. An took the half bar as the entry
What I failed to notice was that I shouldn't have taken that 123 as an entry but rather the 2b half bar that was next to it. This would have been a wayyy better entry.
Regardless I didn't get stopped out (came within 2 ticks lol) but I decided to get out at BE. Wasn't until after that I noticed another cumulative delta setup (FYI these setups are uncommon but they are runners). I set up an limit order but like the last one price never came back.
I noticed another 123 setup on the 1589 chart. An took the half bar as the entry
What I failed to notice was that I shouldn't have taken that 123 as an entry but rather the 2b half bar that was next to it. This would have been a wayyy better entry.
Regardless I didn't get stopped out (came within 2 ticks lol) but I decided to get out at BE. Wasn't until after that I noticed another cumulative delta setup (FYI these setups are uncommon but they are runners). I set up an limit order but like the last one price never came back.
Analysis
1. ES for direction was going to enter on a 123 missed the entry and I saw this setup on the cumulative delta range chart. Got in slightly late but worked out. Should have gotten out at the 123 long setup.
2. Got in on a retest of the 123. Little aggressive on entry
3. Entry was off of a cumulative delta signal. Got out because of the absorption just 10 ticks bellow entry
4. Last one was a 123 setup but there was more absorption just below entry and ES was showing signs that it was going to grind higher.
1. ES for direction was going to enter on a 123 missed the entry and I saw this setup on the cumulative delta range chart. Got in slightly late but worked out. Should have gotten out at the 123 long setup.
2. Got in on a retest of the 123. Little aggressive on entry
3. Entry was off of a cumulative delta signal. Got out because of the absorption just 10 ticks bellow entry
4. Last one was a 123 setup but there was more absorption just below entry and ES was showing signs that it was going to grind higher.
