3 types of trade setups were found during Monday session:

1. Opening Drive

2. Mean reversion

3. Triple Top reversal

During Pre RTH, YM broke the short term uptrend line and traded at the developing value area low. The rejection of VWAP at the open, gave me a more confidence about the potential selling.

First trade setup was at the break of trend line after VWAP rejection. This was to join the opening drive to the down side.

Another observation of the day is the accumulation wedge formation at the macro demand level 17520. The break of the this wedge and subsequently the Over-&-Under formation signaled the mean reversion trade setup was on table.

After mean reversion objective (VWAP) was achieved, triple-top was formed. With this , I was looking at another test of developing value low.

That’s all I found yesterday.

This series of day reviews are just to show what I am doing during the trading session and also the result of market replay after close. I usually replay the market during Asian session to compare against what I did, What I should have done, or identify any mistakes that I might have made during the live session.

Have a good day.