##TheStrategyLab Price Action Chat Room Logs

July 21st Tues - #futures #forex #stocks #trading
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Author:  wrbtrader [ Tue Jul 21, 2020 3:15 pm ]
Post subject:  July 21st Tues - #futures #forex #stocks #trading

072120-TheStrategyLab-Chat-Room-Key-Markets.png [ 5.22 MiB | Viewed 14 times ]

click on the above image to view today's price action of key markets

Bloomberg Markets: The Open Full Show (07/21/2020) @ https://www.bloomberg.com/news/videos/2020-07-21/-bloomberg-the-open-full-show-7-21-2020-video

[09:33:42] * Now talking in ##TheStrategyLab
[09:36:03] <asuni> good morning
[09:40:56] <wrbtrader> Good morning
[09:43:59] <asuni> ES doesn't want to move down
[10:08:26] <wrbtrader> Markets a little lost...most likely waiting for Pres. Trump to start his news conference in a few hours
[10:12:26] <wrbtrader> Long Emini ES @ 3264.75 -> large size
[10:12:29] <wrbtrader> 10 contracts
[10:13:23] <wrbtrader> Exited all Emini ES Long @ 3264.25 --> - 0.5
[10:15:55] <wrbtrader> Shorts Emini ES @ 3262.00 -> large size
[10:15:59] <wrbtrader> 10 contracts
[10:16:15] <wrbtrader> Covered all Emini ES Short @ 3263.00 --> - 1
[10:16:31] <wrbtrader> Shorts Emini ES @ 3262.50 -> large size
[10:16:42] <wrbtrader> 10 contracts re-entry
[10:16:45] <wrbtrader> intuition
[10:17:39] <wrbtrader> more choppy
[10:18:16] <wrbtrader> Covered all Emini ES Short @ 3263.00 --> - 0.5
[10:19:22] <wrbtrader> Long Emini ES @ 3263.75 -> large size
[10:19:24] <wrbtrader> 10 contracts
[10:19:48] <wrbtrader> WRB pt1 reached
[10:20:21] <wrbtrader> Exited all Emini ES Long @ 3265.25 --> + 1.5
[10:20:41] <wrbtrader> just bouncing around :(
[10:25:25] <wrbtrader> Shorts Emini ES @ 3263.75 -> large size
[10:25:32] <wrbtrader> 10 contracts
[10:27:31] <wrbtrader> Covered all Emini ES Short @ 3256.25 --> + 7.5
[10:27:40] <wrbtrader> WRB pt1 reached
[10:27:47] <wrbtrader> volatility spike out of nowhere
[10:28:06] <asuni> shorted 3263 exited 3256,75
[10:30:53] * Disconnected
[10:31:13] * Attempting to rejoin channel ##TheStrategyLab
[10:31:19] * Rejoined channel ##TheStrategyLab
[10:31:19] -ChanServ- [##TheStrategyLab] Chat room for day traders, swing traders, position traders using concepts from WRB Analysis to help improve the performance of their trade signal strategies. WRB Analysis free study guide @ http://www.thestrategylab.com/tsl/forum ... =119&t=718
[10:32:18] * Disconnected
[10:34:28] * Attempting to rejoin channel ##TheStrategyLab
[10:34:34] * Rejoined channel ##TheStrategyLab
[10:34:34] -ChanServ- [##TheStrategyLab] Chat room for day traders, swing traders, position traders using concepts from WRB Analysis to help improve the performance of their trade signal strategies. WRB Analysis free study guide @ http://www.thestrategylab.com/tsl/forum ... =119&t=718
[10:40:59] <wrbtrader> snapback up but it still has not retraced back to the R area of the most recent big Down wRB Hidden GAP interval
[10:41:25] <asuni> and nq new lows
[10:41:48] <wrbtrader> correlations in the volatility BAD right now
[10:42:28] <wrbtrader> Shorts Emini ES @ 3259.50 -> large size
[10:42:30] <wrbtrader> 10 contracts
[10:42:53] <wrbtrader> Emini ES will need to catch up to what Emini NQ is trying to do...make a new low
[10:43:03] <wrbtrader> intuition trade
[10:44:19] <wrbtrader> WRB pt1 reached
[10:44:37] <wrbtrader> Covered all Emini ES Short @ 3254.75 --> + 4.75
[10:44:41] <asuni> here it comes
[10:48:34] <wrbtrader> I open the day with 3 consecutive losing trades and now have 3 consecutive winning trades
[10:49:00] <wrbtrader> Key is the winners are bigger than the losers
[10:49:14] <wrbtrader> while having a 50% win rate
[10:56:38] <asuni> u have a profit factor = 6,75 i would say monstruos
[10:57:31] <asuni> my PF today is 1,64, even if i am in large gain
[10:57:46] <asuni> don't cut sufficiently my loss
[10:59:40] <asuni> in my rules the first one is: if it doesn't go, it doesn't go. But when i'm "sure" of my trade, i have difficulties to respect it
[11:01:51] <asuni> my losses are -1 -2 -1.25 -1.5
[11:01:55] <asuni> too large
[11:02:31] <wrbtrader> agree
[11:03:11] <wrbtrader> Where the losses stop hits or you exited when you thought the trade has a problem ?
[11:03:43] <asuni> the second one
[11:04:38] <asuni> for example, if i see there is a gap to fill against my direction, i often "hope" that it will just fill it and come back
[11:04:50] <wrbtrader> Did you get caught in the same chop I got caught in during my 3 consecutive losses ?
[11:05:50] <asuni> in 2 of them, even if at different levels
[11:06:19] <wrbtrader> Shorts Emini ES @ 3264.75 -> small size
[11:06:30] <wrbtrader> 3 contracts
[11:06:43] <wrbtrader> early entry
[11:07:37] <wrbtrader> WRB pt1 reached
[11:08:08] <wrbtrader> Covered all Emini ES Short @ 3263.00 --> + 1.75
[11:08:32] <asuni> this is incredible for me, u quite always enter just before a spike volatility, does't matter if it is against u or in your direction
[11:09:09] <wrbtrader> Shorts Emini ES @ 3262.00 -> small size
[11:09:15] <wrbtrader> 1 contract
[11:09:54] <wrbtrader> That chop was grueling...didn't matter if Long or Short
[11:10:22] <asuni> yes
[11:10:32] <wrbtrader> small WRB pt1 reached
[11:10:48] <wrbtrader> Covered Emini ES Short @ 3261.25 --> + 0.75
[11:11:15] <asuni> also because we come from a period where the word choppy didn't exist
[11:13:19] <wrbtrader> What period you're talking about ?
[11:14:13] <asuni> february-april
[11:43:49] <wrbtrader> Yeah...that's when the Coronavirus news was hitting the markets...
[11:44:01] <asuni> yes
[11:44:14] <wrbtrader> But it trended down hard late March and April
[11:44:44] <wrbtrader> February had a lot of CHOP
[11:45:08] <asuni> i remember one day when markets were locked for -5% at the open, u told me it would be a great day to read a book :-)
[11:45:26] <wrbtrader> Yeah
[11:45:45] <asuni> sincerely, i didnt do it :-)
[11:46:04] <wrbtrader> Yet, this Pandemic is new to everyone and the markets
[11:46:18] <wrbtrader> Not sure if we'll every see anything like it again
[11:47:05] <asuni> never say never
[12:11:15] <wrbtrader> True
[12:20:21] <wrbtrader> Shorts Emini ES @ 3257.25 -> small size
[12:20:27] <wrbtrader> 3 contracts
[12:21:03] <wrbtrader> Covered all Emini ES Short @ 3257.75 --> - 0.5
[12:21:23] <wrbtrader> Shorts Emini ES @ 3258.25 -> small size
[12:21:32] <wrbtrader> 3 contracts re-entry
[12:22:04] <wrbtrader> Should have waited longer in the prior trade (loser) for it to pop above 3258.00
[12:22:48] <wrbtrader> Overall a weak setup
[12:23:12] <wrbtrader> will keep a tight stop on these
[12:24:55] <wrbtrader> Covered all Emini ES Short @ 3256.59 --> + 1.75
[12:26:17] <wrbtrader> I think this could chop around in this price area...reason why I dumped it fast when it reached WRB pt1
[12:26:53] <wrbtrader> Looks like its visually forming a wedge pattern
[12:27:13] <wrbtrader> volatility contracting / bouncing around as it nears the apex of that formation
[13:32:09] <wrbtrader> Volatility < 25
[13:33:13] <wrbtrader> I think the increasing chop the past 5 trading days is due to volatility slowly contracting lower in comparison to prior month where it was contracting fast
[14:13:56] <wrbtrader> Long Emini ES @ 3267.00 -> small size
[14:14:00] <wrbtrader> 3 contracts
[14:18:16] <wrbtrader> Exited all Emini ES Long @ 3266.00 --> - 1
[14:54:09] <wrbtrader> Long Emini ES @ 3264.00 -> small size
[14:56:45] <wrbtrader> Exited all Emini ES Long @ 3264.25 --> + 0.25
[14:58:43] <wrbtrader> Long Emini ES @ 3264.25 -> small size
[14:59:27] <wrbtrader> 3 contracts re-entry
[15:01:08] <wrbtrader> Exited all Emini ES Long @ 3263.00 --> - 1.25
[15:03:20] <wrbtrader> Long Emini ES @ 3263.75 -> large size
[15:03:23] <wrbtrader> 10 contracts
[15:04:37] <wrbtrader> Exited all Emini ES Long @ 3263.25 --> - 0.5
[15:05:10] <wrbtrader> Shorts Emini ES @ 3263.00 -> large size
[15:05:21] <wrbtrader> 10 contracts
[15:05:40] <wrbtrader> trying hard now to move down the range of a recent Long Lower Shadow interval
[15:07:12] <wrbtrader> small WRB pt1 reached
[15:08:43] <wrbtrader> Covered all Emini ES Short @ 3260.50 --> + 2.5
[15:08:53] <wrbtrader> :(
[15:08:56] <wrbtrader> early exit
[15:09:15] <wrbtrader> wanted to stay in for a WRB pt2...trailed it too tight
[15:10:04] <wrbtrader> now a WRB pt2 has been hit :(
[15:10:24] <wrbtrader> @ 3260.00
[15:11:21] <wrbtrader> Shorts Emini ES @ 3258.25 -> large size
[15:11:32] <wrbtrader> 10 contracts intuition
[15:11:36] <wrbtrader> volatility spike
[15:12:25] <wrbtrader> Covered all Emini ES Short @ 3252.75 --> + 5.5
[15:13:13] <wrbtrader> Emini ES futures over-reacted to the other Eminis
[15:13:39] <wrbtrader> Now trying to snapback to equilibrium
[15:14:10] <wrbtrader> Market Depth also fell off the cliff too
[15:19:13] <wrbtrader> Shorts Emini ES @ 3251.25 -> large size
[15:19:26] <wrbtrader> 10 contracts
[15:20:18] <wrbtrader> Covered all Emini ES Short @ 3251.00 --> + 0.25
[15:20:46] <wrbtrader> Shorts Emini ES @ 3251.75 -> large size
[15:20:59] <wrbtrader> re-entry 10 contracts
[15:21:26] <wrbtrader> Covered all Emini ES Short @ 3252.25 --> - 0.5
[15:21:39] <wrbtrader> snapback attempt
[15:22:07] <wrbtrader> Long Emini ES @ 3253.00 -> large size
[15:22:16] <wrbtrader> 10 contracts
[15:24:11] <wrbtrader> Exited all Emini ES Long @ 3252.25 --> - 0.75
[15:24:30] <wrbtrader> There's a battle here as a new S area is developing
[15:24:50] <wrbtrader> Shorts Emini ES @ 3251.50 -> large size
[15:25:00] <wrbtrader> 10 contracts
[15:25:35] <wrbtrader> Covered all Emini ES Short @ 3252.25 --> - 0.75
[15:25:41] <wrbtrader> punks
[15:26:00] <wrbtrader> Long Emini ES @ 3253.75 -> large size
[15:26:12] <wrbtrader> 10 contracts
[15:26:24] <wrbtrader> tight range with R and S areas
[15:27:34] <wrbtrader> having problems getting back to 3255.00
[15:28:32] <wrbtrader> Exited all Emini ES Long @ 3254.00 --> + 0.25
[15:28:59] <wrbtrader> Shorts Emini ES @ 3252.50 -> large size
[15:29:23] <wrbtrader> back to the S area of the Low via the Long Lower Shadow interval
[15:29:38] <wrbtrader> now below the S areas
[15:30:11] <wrbtrader> Covered all Emini ES Short @ 3250.75 --> + 1.75
[15:30:19] <wrbtrader> punks :(
[15:30:28] <wrbtrader> trail stop picked
[15:30:39] <wrbtrader> back into the tight range
[15:31:02] <wrbtrader> both R and S areas below the most recent Down WRB Hidden GAP interval
[15:31:29] <wrbtrader> Shorts Emini ES @ 3250.75 -> large size
[15:31:38] <wrbtrader> 10 contracts
[15:32:05] <wrbtrader> Choopy because of the pending Trump press conference
[15:32:59] <wrbtrader> Covered all Emini ES Short @ 3250.75 --> 0
[15:35:31] <wrbtrader> Shorts Emini ES @ 3248.00 -> large size
[15:35:41] <wrbtrader> crazy chop
[15:35:47] <wrbtrader> 10 contracts
[15:36:10] <wrbtrader> tight trail again
[15:38:45] <wrbtrader> Covered all Emini ES Short @ 3246.25 --> + 1.75
[15:39:14] <wrbtrader> trail stop picked
[15:39:51] <wrbtrader> 5 straight trades
[15:43:02] <wrbtrader> too many Shorts in this down move...shaken (chopped) out
[15:48:47] <wrbtrader> Geeesh...right back up into that prior difficult tight trading range just below the big Down WRB Hidden GAP interval :(
[15:49:37] <wrbtrader> Won't get sucker this time in that trading range
[15:49:50] <wrbtrader> Will wait for a breakout (Up or Down)
[15:50:01] <wrbtrader> not much time in the trading day
[15:50:40] <wrbtrader> Shorts Emini ES @ 3247.00 -> small size
[15:50:44] <wrbtrader> 3 contracts
[15:51:43] <wrbtrader> WRB pt1 reached
[15:52:30] <wrbtrader> crazy price action
[15:53:57] <wrbtrader> Covered all Emini ES Short @ 3242.75 --> + 4.25
[15:54:26] <wrbtrader> mentally draining
[15:54:29] <wrbtrader> I'm done
[15:55:02] <wrbtrader> darn price action now trying to retrace back up
[15:55:22] <wrbtrader> I use to call this in the old days...
[15:55:32] <wrbtrader> Bronco Buck Price Action
[15:56:01] <wrbtrader> Take care all and see you tomorrow
Session Closed

Bloomberg Markets: The Close' Full Show (07/21/2020) @ https://www.bloomberg.com/news/videos/2020-07-22/-bloomberg-markets-the-close-full-show-07-21-2020-video

@ wrbtrader @ Frequently Asked Questions @ Risk Warnings @ Terms of Use Policy


##TheStrategyLab (located on the Freenode IRC network) is free and is a serious professional trading chat room involving WRB Analysis in which any trader (position trading, swing trading, day trading) can use the chat room to post their trades or commentaries about stocks, futures, exchange traded funds or forex currencies. Simply, you don't need to be a client of TheStrategyLab.com to use the free chat room nor do you need to be a price action trader (no indicators) because some members use indicators while others do not. Yet, the only requirement is that you want to learn WRB Analysis.

Therefore, we welcome all traders that want to learn about WRB Analysis regardless if they are beginners or experience traders in price action trading.

The purpose of ##TheStrategyLab is that it's designed to be a trade journal for documentation purposes only so that members can have a time stamp archive of trades and market commentaries of each trading day so that they can better understand their broker statements from one trade to the next trade when they review their performance numbers on any given trading day.

The free chat room is not a signal calling trading room with a head trader telling you what to trade, when to buy or when to sell. In fact, we do not believe in the business model of a head trader telling other traders when to buy and sell. Its a flawed approach to trading and its a flawed substitution for mentoring in which a trader can not learn how to be a successful independent trader.

Further, members are not obligated to educate nor help other members but members are encourage to ask questions about any trades or market commentaries that's posted by others because sometimes the answers contains useful trading tips.

In addition, our primary job in the free chat room is to moderate the room (keep the peace) because with so many members using different trade signal methods along with different opinions about the market...debates or arguments can easily flare up without moderating. In addition, our presence in the chat room is to ensure it's a spam free chat room during trading although these archived chat logs may contain advertisements for guest visitors.

Commonly discussed trading instruments from stocks, futures, exchange traded funds and forex currencies:

Image CME Emini Futures EMD, ES and NQ

Image CME Emini RTY Futures (formerly ICE TF)

Image CBOT mini-sized Dow Futures YM

Image Micro E-mini Futures MES, MNQ, MYM and M2K

Image Eurex Index Derivatives (futures) DAX and DJ Euro Stoxx50

Image Eurex Fixed Income Derivatives (futures) BUND, BOBL and Schatz

Image Euronext Futures FTSE-100 and CAC-40

Image CME Futures EuroFX 6E and EC

Image Treasury Futures T-Notes ZT, ZN, ZF and T-Bonds ZB

Image Forex Currencies Gbp/Usd, Eur/Usd, Eur/Yen, Usd/Cad, Xau/Usd and Xag/Usd

Image Exchange Traded Funds VXX, DIA, IWM, QQQ, SPY, BGU, FAS, FAZ, TNA, OIH, XLE and GLD

Image NYMEX Energy Futures Light Crude Oil CL, Brent Crude Oil BZ/BRN, e-miNY QM and Natural Gas NG

Image COMEX Metal Futures Gold GC, mini-Gold YG, Copper HG and Silver SI

Image S&P CNX NIFTY Futures

Image Hang Seng Index Futures HSI and mini-Hang Seng MHI

Reminder, our Terms of Use (TOU) Policy is a must read to prevent any misunderstandings along with revealing that ##TheStrategyLab is a serious professional price action trading chat room and we expect members to act professional. Also, these logs may have been edited (rarely) to remove any messages that a member has complained to me via private message that they consider a particular commentary to be inappropriate, racist, harassment, lies, hackers, pikers, trolls that's a distraction to members of our chat room, our forum or our website. Yet, the original logs are always maintain for security reasons and legal reasons if needed.

Disclaimer: Today's trading performance is not an indication of my future performance and not an indication of the future performance for any trader that decides to learn/apply WRB Analysis. The risk of loss can be substantial. Therefore, you must carefully consider if trading is suitable for you within the context of your financial condition. TheStrategyLab.com is an education and research site. The resources on this site are provided for informational purposes only and should not be used to replace professional educational and professional research because we are retail traders only. TheStrategyLab.com does not accept liability for your use of the website and its resources.

We make no guarantees of success and your level of success is dependent upon other factors including your skill as a trader, knowledge, financial condition, market conditions and other factors. Trading is stressful and you should always consult a doctor in all matters relating to physical and mental health of you and your family because trading can impact beyond your financial condition regardless if you're a profitable or losing trader. Also, you can read our full disclaimer statement @ http://www.thestrategylab.com/Disclaimer.htm

Image TheStrategyLab Review about Dr. Dean Handley @ http://www.thestrategylab.com/dr-dean-handley-review.htm

Image Rebuttal to Mr. Emmett Moore Jr. via TheStrategyLab.com Review @ http://www.thestrategylab.com/tsl/forum/viewtopic.php?f=84&t=3167

Image Review of Emmett Moore Jr. Tradingschools @ http://www.thestrategylab.com/emmett-moore-jr-tradingschools-review.htm

Image The Strategy Lab: Valforex - The Manipulative Review Scam @ http://www.thestrategylab.com/tsl/forum/viewtopic.php?f=84&t=3676

Image TheStrategyLab Review @ http://www.thestrategylab.com/thestrategylab-reviews.htm

Image Where did wrbtrader go? | Elite Trader @ http://www.thestrategylab.com/ftchat/forum/viewtopic.php?f=161&t=2844

Image Trolls Review @ http://www.thestrategylab.com/trolls-review.htm

Note: chat logs saved (timestamp) from Qu├ębec, Canada in eastern daylight time

Best Regards,
M.A. Perry
Trader and Founder of WRB Analysis (wide range body/wide range bar analysis)
a.k.a. wrbtrader (more info about me): http://www.thestrategylab.com/wrbtrader.htm
TheStrategyLab Price Action Trading
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