Caught two clean and perfect scalps today.
One of them on my smaller scalping account, I experimented using micros to build into the position during slow markets (but still using less than 2 total mini contracts).
Let’s have a look at them:
Futures Trading Prop Firm I Use (60% Discount)
Todays Trades:
Trade 1: Micro Trade:
Trade Breakdown:
We were trading at a current session high volume node @ 20,634.75
Once we pushed bach above current session POC (the red line), I started to build into my position with 15 micro contracts to get long (equivalent of 1.5 mini contracts).
Targeted the next high volume node as my take profit around 20,650, can expect a bounce/reaction from these levels so wanted to make sure the majority of my position was closed.
Left 5 cons to potentially push higher, but trailed the stop up just above break even in case it reversed.
Price melted back down below the POC, 5 running contracts stopped out at +1 tick.
Commentary: Clean trade, perfect setup. Good example of using current session levels to build a position — POC to long if looking bullish, and using opposing high volume node to take profit.
Note that when trading using the current day profile, I always find it important to use other high volume nodes as take profit targets as you will often get a reaction around these points.
Trade 2: Normal Trade:
Trade Breakdown:
Price coming back down after making a high and fizzling out at the top (less participation at/near the highs, strong bearish reaction), and being above the VAH, I was looking for shorts.
We traded and held below current session POC, built into a short position as price poked up into POC again. Stop loss at -50 ticks.
Take profit target at the beginning of the volume shelf at ~20,637.75. Only looking for an easy scalp on this next one, so took full profit at the volume shelf.
Commentary: Another clean scalp. When above VAH, and unless price is clearly trending, I prefer to look for fades at the extremes. With price coming back below POC, as well as being above VAH, it was the perfect opportunity for a short.
Tuesday Levels:
NASDAQ:
The levels I’m looking at going into Tuesday are:
Value Area High: 21,129.50
Point of Control: 21,093.25
Value Area Low: 21,034.25
Great start to the week!
This week, and weekly from now on, I’ll be doing in-depth trade breakdowns on YouTube covering 3 of my best trades and any bad trades from the week before.
These will be perfect for anyone wanting more insight on to my trade selection process, my strategy, and more intricate details of the way that I execute.
Look out for that — expect something from me on Friday.
Talk tomorrow!
Cheers
~Cammy Capital
Discount Links:
Futures Trading Prop Firm I Use (60% Discount)
Bookmap 20% Discount (Code: CAMCAP)
Footprint Charts I Use ($15 Discount)
Disclaimer:
I am not a financial advisor. All content produced by me here or anywhere else on the internet are strictly for entertainment and educational purposes only. Some of the links contained are affiliate links, meaning I receive a financial kickback for when you sign up for their services. I only ever promote products and services that I personally use and trust myself.
CFTC RULE 4.41: “These results are based on simulated or hypothetical performance results that have certain inherent limitations. Unlike the results shown in an actual performance record, these results do not represent actual trading. Also, because these trades have not actually been executed, these results may have under-or over-compensated for the impact, if any, of certain market factors, such as lack of liquidity. Simulated or hypothetical trading programs in general are also subject to the fact that they are designed with the benefit of hindsight. No representation is being made that any account will or is likely to achieve profits or losses similar to these being shown.”
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