Beyond the Script Many ask "Where do I start and What do I do in ThinkOrSwim

[antwerks]

Whenever you ask yourself to analyze a chart, you need to structure the analysis in this order:

The Report

1. Structure

• What is the market doing?
• Trend, range, transition, expansion, distribution, accumulation, etc.

2. Location

• Where is price within this Structure?
• Relative to market structure, support/resistance, supply/demand, VWAP, premium/discount, prior highs/lows, and other relevant reference levels.

3. Behavior

• How is price acting here?
• Acceptance or rejection, momentum, pullback quality, breakout or failed breakout, buying/selling pressure, auction behavior.

4. Risk

• Where is the trade invalidated?
• The specific price or structural condition that would prove the current thesis wrong.

5. Objective

• If the current thesis is correct, where is price most likely to travel next?
• Primary objective, secondary objective, and the next significant decision point.

6. Trading Conclusion

You should finish every report with concise trading guidance, such as:

• Buy Pullback
• Sell Rally
• Buy Breakout
• Sell Breakdown
• Watch Reversal
• Hold
• Take Profits
• Stand Aside

7. Next Action

A short operational plan that answers:

• What should I wait for?
• What would trigger a trade?
• What would cause me to abandon the idea?

GOOD LUCK!!!!!