Trading Boot Camp Video Notes

Jul 5, 2024

Trading Boot Camp Video Notes

General Info

  • No trading today due to CPI (Consumer Price Index) day.
  • Using the time for back testing with Discord group.
  • Focus on how trades could have been made.

Market Analysis

S&P Overview

  • Weekly, Daily, 4-Hour, 1-Hour: All bullish.
  • Pre-market: Bullish on all time frames.
  • Avoid trading on CPI days due to major movements already made.
  • Four-hour chart: Break of structure on this Candlestick.
  • 15-minute chart: Imbalance detected.
  • Not much liquidity draw.
  • Avoid trading when the major move has already been made during news releases.
  • Trade Example:
    • Could have entered long after the candle break.
    • Risk due to low volume post-CPI.

Perfect Non-Trade Example

  • Bias: Daily, 4-hour, 1-hour all bullish.
  • Break of structure in 5-Minute timeframe but considered a retrace for higher frames.
  • Emphasized retraces on smaller timeframes often align with larger timeframe trends.

Trading Principles

  • Higher timeframes hold greater influence.
  • Retraces on smaller timeframes when there's contrary structure on larger ones.
  • Avoid trades on conflicting timeframes.

Detailed Pair Analysis

GBP/JPY (GJ)

  • Daily Bias: Bearish.
  • Weekly: Contributing to daily moves.
  • Daily, 4-hour, 1-hour: All show bearish bias.
  • Levels: Asian, London sessions' highs and lows marked.
  • Trade Example:
    • London session high touched during New York session.
    • Break of structure, enter short, target previous lows.

Gold

  • Weekly: Bearish.
  • Daily: Likely to turn bullish soon.
  • Four-Hour: Bullish pre-market.
  • Confliting signals across timeframes - Avoid trading.
  • Forex Strategy: Break of structure during CPI not ideal as it was news-related.

GBP/USD (GU)

  • Daily, Weekly: Bullish.
  • No clear London session high.
  • Trade Analysis:
    • Avoid due to lack of clear signals and conflicting biases.

Lessons From Today's Session

  • Avoid trading on CPI days - low movement post major news move.
  • Higher timeframes take precedence over smaller frames.
  • Valid trades tend to align with the bias of higher timeframes.

Upcoming Sessions

  • Tomorrow's focus on PPI (Producer Price Index).
  • Plan: Zoom session early, observe PPI impact, and potential bootcamp video creation.
  • Regular trading and analysis day planned for Friday.

Summary

  • Today's session: Aimed at understanding conditions to avoid trading.
  • Emphasized importance of avoiding trades on CPI days.
  • Future sessions will focus more on practical trades and analysis along with community input and mentorship.