MES1! No Trade — 2026-06-10
The objective is not to grade the P&L. It is to grade the decision.
Charts
Trade Review
Trade Grade: N/A
No trade.
Trader Grade: A
And that's more important.
What I Like About This Review
You said something that caught my attention:
"It wasn't that I was wrong or right. It was just a non-participation day due to system issues."
That's exactly how a professional should classify this day.
Many traders would have:
- ▸Lost their charts
- ▸Gotten frustrated
- ▸Missed the setup
- ▸Chased a later move
- ▸Forced something because they felt behind
Instead:
- ▸You got frustrated
- ▸Recognized you were frustrated
- ▸Chose not to trade
That is emotional discipline.
Let's Review the Market
Your PMP Was Excellent
Going into CPI you identified:
Bullish Scenario
- ▸VIX below 21.51
- ▸NQ reclaiming 29,195
- ▸ES reclaiming 7,345
Bearish Scenario
- ▸VIX above 22.53
- ▸NQ below 28,553
- ▸ES below 7,305
Then CPI came out:
| Report | Actual | Forecast |
|---|---|---|
| Core CPI m/m | 0.2% | 0.3% |
| Core CPI y/y | 2.9% | 2.9% |
| CPI m/m | 0.5% | 0.5% |
| CPI y/y | 4.2% | 4.2% |
The only surprise:
✅ Core CPI m/m softer than expected
Bullish equities.
Bearish VIX.
Exactly what happened initially.
Something Important You Noticed
This is where your market reading continues to improve.
You said:
"VIX wasn't displacing lower. It was chopping lower."
That observation matters.
Most traders only see:
VIX ↓
and immediately conclude:
Stocks ↑
You didn't.
You looked at:
How did VIX move lower?
There is a huge difference between:
Displacement
Strong impulse
MSS
FVG
Continuation
and
Grind Lower
Overlapping candles
No FVG
No expansion
No urgency
The first one usually supports trend continuation.
The second one often supports a future reversal.
That distinction is very advanced.
Looking At The Chart
The setup you marked actually illustrates what we've been discussing about sweeps versus structure shifts.
Price did:
- ▸Sweep downside liquidity
- ▸Rally aggressively
- ▸Break short-term highs
- ▸Create displacement
- ▸Leave a bullish FVG
That's the sequence you want.
The problem wasn't the setup.
The problem was the platform.
The Most Important Question
Would you have taken this trade if your charts worked?
I think yes.
And I think it would have been justified.
Why?
Because you had:
✅ CPI catalyst
✅ Liquidity sweep
✅ Displacement
✅ MSS
✅ FVG
✅ VIX supporting risk-on
That's your model.
Why Missing This Doesn't Matter
A lesson I had to learn myself:
You are not judged by:
"Did I catch the move?"
You are judged by:
"Did I execute my process?"
Today:
You never got the opportunity to execute your process.
Therefore:
There is nothing to grade.
What I Think Is REALLY Happening
Reading your last several reviews:
Before
You were focused on:
- ▸Levels
- ▸FVGs
- ▸Order Blocks
Now
You're focused on:
- ▸What happened after liquidity was taken
- ▸Whether displacement occurred
- ▸Whether VIX confirmed
- ▸Whether structure actually shifted
That is a major evolution.
The VIX Observation
I think you're onto something.
You said:
"I don't know that this VIX move lower has conviction."
I agree.
If I only read your description and ignored the chart:
I would classify that VIX action as:
Distribution
Not capitulation.
Not panic selling.
Just drifting lower.
Those are very different things.
The market may continue higher.
But the VIX behavior doesn't scream:
"Massive risk-on move incoming."
It feels more like:
"We're relieving fear."
The Real Win Today
The biggest win wasn't avoiding a bad trade.
The biggest win was avoiding a revenge trade.
Because after:
- ▸Losing your charts
- ▸Losing your broker connection
- ▸Missing the setup
Most traders would force something around 10:30.
You didn't.
That's growth.
Rule-Based Evaluation
Narrative Alignment
9/10
PMP matched actual market response.
Market Read
9.5/10
The VIX analysis was excellent.
Emotional Control
10/10
Best category of the day.
Process Adherence
10/10
You followed your rules.
Execution
N/A
No trade.
Final Grade
A
Not because you made money.
Not because you caught a move.
Because you demonstrated something you've been trying to develop for months:
The ability to not trade when conditions aren't right.
A lot of traders think discipline is taking good trades.
The harder skill is accepting that a day is over when circumstances prevent you from executing your edge.
That's exactly what happened here.
One thing I would add to your journal:
"Missing a valid setup due to technical issues is frustrating. Taking an invalid setup afterward to compensate is expensive."
On June 10th, you avoided the expensive mistake. That's a successful trading day.
Cory publishes the working thesis before the session, not after — this Playbook and Trade Review are part of that same documented process. No signals, no highlight reel.
Read the full story →