Hey, wrap up.
And there’s the 15point candle. Warning,
warning.
So, this is why I said the 15-point
candle is your first warning because the
ATR can’t catch up yet. It just not
catching up to it yet.
Now, that 15-point candle, this is
something you really need to think about
with your trade plan. For those who are
new members, we haven’t had 15 point
candle land in a while. You may not have
actually experienced those in our group
yet. Um,
maybe your trade plan is, I get one
15minute candle, I’m out of here.
Or I’ve got to wait till two new bounces
happen.
15-point candles are not rational price
action.
So, you had a 15-point candle down.
Bull/Bear Line and Initial Trade Response
That’s your red alert. Red alert.
And what a battle here. Boy, I think I I
I denoted the bull bear line really well
here.
You know, for some reason we fly out of
there, come back and bounce again. I
would go, okay, cool, cool, cool. Can we
get up here and then do a bounce?
All right, a little fair value gap back
into the range here. Push to the bottom.
Having a move up might be all the bears
can muster there. H.
All right, pushed all the way through
that range.
So now this is a long
market is trading as as if Friday didn’t
happen. That’s a great observation. It’s
a normal day, isn’t it? Just a normal
Long Setup and Trade Execution
slop and chop day after a large move.
You know, after large moves, you know,
price tends to have a slop and chop day.
All right. So, I’m long as I said I
would be.
Well, I was hoping for a move to the
Sunday opening, but so far it doesn’t
look like that’s going to happen. So, we
said if we can get back up over this
range, the retap into that is probably a
long realize we got big candles. It
could come against you really hard, but
when it lazy string of fair value gaps
here and all of that and gets back up
over the range, you took that 75 long.
Congratulations.
Very nice.
You’re long. Congratulations.
Who knew that was going to be the trade?
I really thought we were going all the
way down.
Um,
no. I don’t think I need that negative
position.
Trade Management and Locking in Profits
Very nice. Maybe this will be a great
move. Come on, keep going.
All right. Very nice.
Very cool. You never know which trade is
going to be the one that goes.
You just map them out. You take them as
you get them. You don’t let any single
trade hurt you.
And if you get in the move that happens
to go, well, you’re looking pretty.
So, I took that 88 against this break
level range, right? Never know. That
could have been the thing that pushes it
right back down. So, maximize one of
those.
One trade like this a week and you’re
set and pretty. Could also take one off
at 97.
Just because I’m taking them off doesn’t
mean I can’t add them back.
Structure-Based Stops and Journaling the Win
Very nice, guys. Very nice.
Nice job, guys. Nice job, traders. And
um let’s capture half of that. Now it’s
waiting. You’re back to waiting now. You
know, I don’t have anything I can be
behind. I don’t really have any
structure. Um you know, I guess there’s
a backside here. You could say, you know
what, I want to be behind the backside.
Probably one of the best pieces of
advice I gave, like you got to be
careful here because if it grabs this IB
and ladders back up, you don’t want to
short that.
um we want to see it get over the strong
range, retest the strong range and go
and that’s what happened. Very nice. So
I would have your stop at 85 in my
opinion then um that that would be a 20
pointer. That’s a very nice freaking day
and then you’re done. So yeah, go ahead
and move your stop then to 85. Capture
your 20 pointer
and if you need close down your platform
and walk away don’t manage it. You know
I took that profit at 88. I thought that
was a really good place to do that.
Okay, congratulations.
Now you go journal. Journal how good
that felt
to wait for the setups and take the
trade. Congratulations. Yeah, nice
trade. It’s a good day to feel good and
don’t do anything to ruin that. You
don’t need more. You don’t need another
trade. Making money is good, but doing
it right makes you feel even better. Oh,
you can. I would certainly say yes, you
can add. So, let’s under our scenario we
talked about. So, you went long here. If
we popped above this, you can easily add
to your trade. So, yes, adding to a
winning trade, I think, is a yes, Alex,
because that puts you on the right. That
teaches you exactly what you should be
doing. Correct. I I’m not going to
restrict you from adding to your winning
trade. That would not be good on my
part. I want you to add to your winning
Anchored VWAP, EMA, and Stop Strategy Techniques
trade. So, for example, right now, let’s
say you were still long and I’m very
proud of you for capturing that 88. That
was fantastic.
Super super fantastic.
Um, now if it pops this with a vengeance
like it did here, this could be an
add-on. Don’t do it as a another trade.
I want you to stay disciplined in your
number of entries. But you could always
mentally trade it. You could switch to
paper trading maybe, but you know that
can also lead to bad habits sometimes.
You know,
traders who can’t say no to the chart
one day will be forced to. Yes, you can
ask another question, my friend. I got
three contracts left. I need to make
sure I got three orders in. So, I
originally had that order at 97 to get
out. Did it get to 97?
One tick shy. And look at that. We ran
from IB low to IB high. I love those. I
love those. And I’m going to use some of
this discussion, Alex, in the wrap-up
video.
Are you okay with that? I am using a
profit account. One contract I am
gaining with the trade. It’s a I like to
use a trailing take profit. Where would
you put it? Well, what I want you to do
eventually is to use structure and keep
your stop two points behind a break
level. The problem in this move, it was
so rapid and fast, it was real
difficult. Um, there is no structure to
be behind. Now, we’re kind of getting
some structure, right? So, at this
point, I would be two points behind this
low.
Does that make sense? Um, I wouldn’t be
Now, the one contract does make it more
challenging. I got it. setting at four
or five points below. I wouldn’t Yeah,
don’t do that anymore. My opinion, what
we’re looking for is we’re looking for
it to touch our level and go. Boy, that
doesn’t get more beautiful, right? And
then once you get about there’s a
certain distance where you can say, “All
right, I’m going to stay behind
structure.” So maybe you could have said
this was going to be my little bit of
structure on a 30 secondond chart. Not
that you have a but if you drop in time
frames, you know that’s going to be a
break level. you could be behind this.
And then you got this one here and
you’re behind that. Maybe you’re getting
a new break level here and you can be
behind that by two points.
So, um it’s one of the nice things about
having a plan that you can drop in time
frames because you can say, okay,
where’s the closest structure? Well,
it’s this. And now it’s this. Um this is
just testing that same break level,
right?
We draw it here at the body. And you
know, now you might be getting a new
one. Depends on how aggressive you want
to be. Your stop would either be here or
your stop would be here. Now, you know,
another thing you could do, this is
something we’ve talked about in the
past.
You could put an EMA on your chart. And
actually, I was thinking about this as a
video this weekend. Some people use a 9
EMA, you can use a 21 EMA, and until it
closes under this line, you’re still in
the trade. That’s another way you could
do it. Um, right now this is set to a 9
EMA.
You could change this to a 21,
which is going to swing it out a little
bit more. I’m going to stay in this
trade as long as we haven’t closed
underneath it. That’s another way you
could do your stop loss.
Um, another way you could do your stop
loss, I was really thinking about doing
a video on this this weekend. You could
change this to Rinko bars
and as long as they’re green, you’re in
the trade, but an EMA is an easy way to
do that, too. Um, especially if you
don’t have any structure. Like, what
what could I possibly use? Well, you
could probably use that. You could also
come in here and say, well, at my entry,
I’m going to throw on an anchored VWOP.
As long as I’m above the anchored VWOP,
I’m going to stay long.
Do those ideas make sense to you? And
also, of course, you want to know where
can price bounce back in front of my
face. There’s nothing wrong with taking
maximum profit there. But if you’re
trying to stay in the trade for as long
as you can for as big of a move as you
can, you using these type of stop-loss
strategies makes more sense than just
following behind four or five points.
Yeah, structure is the most important.
First of all, there’s a 30-second break
levels, right? That’s going to form
first
and then 1 minutes, then 3 minutes, then
15 minutes, then 30 minutes, then
hourlys, then dailies.
Depending on the type of account you
have, you can start being behind higher
time frame structures. So, initially you
might only have some 30-cond levels, but
as time develops, you’ll have a one
minute structure. Now, let’s look at
this from a 3minut. There’s literally
nothing. Maybe you could still use this
like, okay, two points behind that.
Comparing Stop Loss Methods and Real-Time Trade Update
And now if you look at the EMA,
the structure, and the anchored VWOP,
you kind of have three possible stop-
losses. None of them are wrong. I don’t
know what price is going to do,
but I tend to like to be behind a bounce
level because we’re pretty good at where
price is going to bounce, right? So, if
I can be behind a bounce level, I’d
rather be behind a bounce level than an
EMA. Now, an anchored VWAP is not a bad
idea either.
It’s clean, clear, and crisp, and
obvious. Yes, Scott, we said if we can
fair value gap above this range, the
retest of the range is a long. Um, I
actually had five contracts. I’ve
already taken two off. So, at a 9 EMA, I
know you’d be out. You’d have been out
right here. It closed underneath it.
So, you’d have been out at whatever
price that is. What price is that? 93. I
said, if we can get to the IB below,
don’t short if it goes back up. And then
we got these fair value gapping candles
out of range. That was the long. That
was the trade. You can keep the anchored
VWAP on there. Think about how good this
level is here. You got an anchored VWAP
from your entry plus a ladder point. Not
a horrible place to take a profit. Now,
the 9 EMA you’d have gotten out sooner,
but I can’t tell you how many times I’ve
seen a 9 EMA get you out and then it
just keeps running, but a 21 is a little
bit better cuz it’s a little wider, but
structure is easier. Why? Because that’s
really our core strategy is structure.
So, here it is coming into the break
level. You know, I could add here. I say
I’m going to add at 88 and I’m going to
get it out at 85. So, I just added
I get I’m against the break level at the
ladder point. I got the anchored VWOP
and so I added back to my trade and
there’s the bounce. All right, so this
is real time George. This video is
getting a little long, but I thought
there was lots of great information to
Session Wrap-Up and Tomorrow’s Live Event
share. I am still long from my original
entry here at 6675
and we’ll continue to stay long until it
gets me out or I develop some higher
timeframe protection levels. Remember,
tonight the battle plan is unlocked for
everybody and we will be live streaming
tomorrow on YouTube if you’d like to
join us live. Be on the lookout for the
next set of entries that will be
published tonight at microtrader.com
under battle plan.

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