Daily Trade Journal - Summary Sheet

 

Daily Trade Journal from Module 4, video 2

DAILY TRADING JOURNAL

(Thomas’ Summary Sheet)

Part A Check!st" Da!y chart NOT#" $he% &e ook at the chart &e are %ot o%y ook!%' or #!ott $ae cou%ts *ut aso su++ort a%, res!sta%ce ees a%, key -!*o%acc! retraceme%t a%, e.te%s!o%/+ro0ect!o% ees1 Curre%cy General and daily trend

Lees 2 or 3

Notes

Use a 5 or 8 period versus a 13 period moving average cross-over to determine the general trend.

#hen the news comes out$ note the reaction.

 News releases Re!e& the %e&s

#.+ecte, s actua Know what the daily releases are and how they will impact the market ased on deviation !rom market e"pectations.

Da!y su++ort ees" %1& %'& %'

(lot long term support levels. #hat are the actual levels) *ormer   price lows) (ivot points) (lot long term resistance levels. ,raw these levels on your chart. *ormer price highs) 0lso draw your -!*o%acc! ,raw these levels on the last swing move. e.te%s!o%s" 1.& 1./18& 1.'2' s4uare root o! 1./18 6onsider using *io !ans& circles or time 7ones.

Da!y res!sta%ce ees" +1& +'& +3 -!*o%acc! retraceme%t ees"  38.'& 5& /1.8 0dditional retracements that analysts look at are .'3/ and .28/

 

DAILY TRADING JOURNAL

Part 4 Check!st" #!ott $ae cou%ts o% Da!y chart #rite it NOT#" ,etermine where you are on the wave count on the daily chart and make your proections. #rite down on the chart and on the checklist. *or each leg determine what the measuring oective is and the actual price reached. ,epending where you actually are in the wave count will determine your ne"t trade using the 9rading :ap. 9his checklist provides the inputs to your ;lliott #ave #ave 9rading 9rading :ap. 0s you are !illing this checklist out you will also need to look at the houry a%, 56 m!%ute charts& as well& to re!ine the wave counts.

Curre%cy / Date -!%, +o!%t 78 or the start o &ae 51 Go through the / con!irmations and make sure at least 3 out o! / con!irm the end o! the previous trend..

Determ!%e #%, o tre%," (rom 9o,ue :8 ;!,eo ead and shoulders wave 3-?-5-0-=-6

61 8 5