1.Compare trading volume between futures and etf's. IWM's trading range and volume these last 2 days was almost identical. The weird thing is, today was a breakout day, and yesterday was a range day. I will post the numbers tommorow.
2.Start analyzing the first 15min and 30min of the trading day.
3.Study volume profile. Example-we breakout day 1, day 2 we trade down to the previous days LVA, do you buy, what tells you to buy, do you see heavy volume here, do you buy into weakness, or wait for a blue bar reversal? I will wait for green volume and a blue bar, because the market tends to penetrate the LVA and HVA a little bit to flush out stops, then it reverses. For example, the HVA may be 1332 on ES, but the price will go to 1334 with high volume and only for a short time period and then reverse back through the HVA of 1332 and back to the middle value area which is lower.
4.Tommorows plan- Only trade if you got your trend lines drawn in for targets. Only trade signals. Watch time frames. Keep stops. Cut the trade after 3-6min if it doesn't work,(still having trouble with time stops, but all trades should be green after 1min or else I didn't enter at the right time and there is a higher chance that the trade is going to be bad based on my my experiences)
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