Looking at the week behind 1 day @ a time…..
Good trading is always going back over the trading WEEK and reviewing the setups that may or may not have worked out and what kept you in or perhaps took you out too early. Looking for the trend move and remaining in the trade is the objective. It’s your patience and discipline that will continue to grow as a trader when you implement such tools.
Weekly Total: 20 setups; 541 Ticks NET ( NQ: 345 | ES: 135 | YM: 90)
- YM, ES, NQ (RTH)
Additional Focus in Video Outlook/Recaps
- CL, GC, 6E, EMD, 6J, ZS, NG, PL, ZN
It seems to appear that today’s current econ data is nothing more than a flash in the pan number that the market will react slightly to and soon forget. However, when you step back and look at a weeks worth of data, it put’s on an entirely new perspective of the status of the economy.
- Housing Market Index: INCREASE
- Consumer Price Index: FLAT (decrease)
- Housing Starts: POSITIVE (increase)
- Industrial Production: POSITIVE (increase)
- MBA Apps: NEGATIVE (decrease)
- Jobless Claims: DECREASE
- EIA: NEGATIVE (decrease)
- FOMC Minutes: Click Here
- Philly FED: POSITIVE (increase)
Chart of the Week
Looking for the chart of the week means looking for what I call the Golden Setup or simply which chart had the highest probability of price action running in TREND. Whether it ran 20 or 100 ticks, it’s the patience to wait for that setup and trust the entry. This is what I strive each day in the market to wait for in each of my setups.
- Great example of how using the higher time frames, with ALL 5 charts in the RED and price action bthe 50/144ema and T3-50ema, higher probability of continued momentum was greater.
Daily Recap/Outlook Videos:
- NQ: 61 Ticks
- YM: 12 Ticks
- ES: 20 Ticks (12/8)
- NQ: 68 Ticks (56/2/10)
- YM: 19 Ticks (10/9)
- ES: 24 Ticks (12/12)
- NQ: 216 Ticks (142/55/19)
- YM: 54 Ticks (38/12/4)
- ES: 67 Ticks (48/11/8)
- NO DATA FEED
- ON VACATION
One Simple Strategy. ANY market. ANY chart. ANY time frame.
e-Manual available on teaching this trading strategy and live trading room/screenshare