Day trading checklist
-What is the Monthly trend telling you. ( Is it a young trending market or old trending market or is it in balance?)
-What is the Weekly trend telling you. ( Is it a young trending market or old trending market or is it in balance?)
-What is the Daily trend telling you. ( Is it a young trending market or old trending market or is it in balance?)
- Overnight inventory, In or Out of Balance, Long or Short, Gap or In range.
- Previous days Settle, In or Out of Balance, Long or Short.
-Were is the open
- Where are we in relativity to the previous days range.
-Where are we in relativity to unchanged from yesterday.
- Single prints or Excess.
-Are there too many single prints in context to the currant market conditions.
- Poor highs or lows.
- Weak highs or lows.
-What is happening at very visual levels.
- Pace of Tempo & conviction.
-Where is half back.
-Monitoring for continuation. (Ex go back through halfback, then move past the opining, then move past the early morning trade high/ low.)
-What would it take to change value? ( Value Area overlapping high/ low).
-Is the market Balanced or Imbalanced.
- Weak or Strong Daytime frame traders.
- Observe all this on Daily & composite timeframes.
- Footprint Bid X Ask Volume Imbalance
- Order Flow, who are you trading against where and what kind of liquidity is present?