Identifying A Potential Session Low On Multiple Intraday Timeframes

Anthony Speciale here with Hawkeye Traders, and I’m thrilled to share some invaluable insights from my personal trading experience this morning.

This isn’t just about placing trades; it’s about developing a strategic approach that maximizes your potential in the market.

Every morning, I follow a specific ritual to prepare myself for the trading day ahead.

When I first log into my trading terminal, I dedicate at least 30 minutes to simply observing the market.

This crucial period allows me to get a feel for the market’s movements without the pressure to place an immediate trade.

This habit has significantly improved my trading discipline and decision-making process.

One of the key rules in my trade plan is to take this initial observation time seriously.

During this period, I assess the market conditions, check the economic news calendar, and mark up my charts for any potential volatility that may arise from upcoming events.

This practice helps me anticipate market movements and avoid unnecessary risks.

In today’s LIVE session, I focused on the light sweet crude oil futures contract.

I primarily use five and three-minute charts for short-term trading, while also referencing higher time frames like the weekly, daily, and four-hour charts.

For today’s analysis, the three-minute and five-minute charts played a crucial role in identifying key market signals.

At 6:12 a.m. EST on the three-minute chart and 6:10 a.m. EST on the five-minute chart, I observed significant volume activity that caught my attention.

Using Hawkeye volume indicators, I noticed high selling volume followed by a doji candle on the five-minute chart.

This combination suggested a potential volume climax, indicating a possible reversal in the downtrend that had been present since the Globex open.

Understanding the relationship between volume and price action is essential.

Volume is the only leading indicator in the market, and mastering it can transform your trading approach.

The Hawkeye indicators simplify this complex relationship, allowing you to see market movements from a perspective that many traders overlook.

As the morning progressed, the market confirmed my initial observations.

The high selling volume was not followed by a significant price decline, suggesting that the sellers were losing momentum.

This insight helped me identify a session low and anticipate a reversal.

Later in the session, I took two short trades off a resistance level at 82.80.

Both trades were profitable, although I had to manage the second one around a scheduled doctor’s appointment.

The first trade was cut short as the market reversed, but I re-entered the trade and took another short, which also yielded positive results.  

Here’s how the 2nd trade transpired:

It’s important to note that my trading decisions were informed by a thorough understanding of volume and price action.

I also maintained a meticulous trading journal, noting significant observations and potential market moves.

For instance, I had written down that the 6:10 a.m. low could be a significant session low, and this proved to be a valuable reference throughout the day.

To help you understand and apply these principles in your trading, I invite you to join our training webinar.

This webinar will provide a deep dive into the interaction between volume and price action, using the Hawkeye indicators to simplify your analysis and improve your trading outcomes.

In the webinar, you will:

• Learn how to identify volume climaxes and potential market reversals.
• Understand the importance of multi-timeframe analysis.
• Discover how to use the Hawkeye indicators effectively on various trading platforms, including TradeStation, TradingView, NinjaTrader, and MetaTrader.
• Gain access to the Hawkeye Volume Mastery series, a comprehensive library designed to enhance your trading skills.

Trading with a clear understanding of volume and price action, supported by reliable indicators, can give you a significant edge in the market.

By focusing on these core principles, you can develop a robust trade plan and improve your overall trading performance.

If you’re ready to take your trading to the next level, click on the link below to join the training webinar.

Bring a notebook, jot down your questions, and reach out to us with any inquiries.

Let’s get the Hawkeye Volume Indicators set up on your charts and grant you access to the Hawkeye Volume Mastery Library so we can start mastering the market together!

We look forward to helping you revolutionize your trading journey.

Click Here to join the webinar and take the first step towards a more straightforward and effective trading strategy.

Thank you for being here, and I look forward to seeing you in the next video. God Bless!

Happy Trading,

Anthony Speciale

Hawkeye Traders

Big Energy Profits