Week 34 RECAP

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;  1447 Ticks NET  ( NQ: 793 | ES: 220 | YM: 434 ) 

Markets Traded 

  • YM, ES, NQ (RTH)

Additional Focus in Video Outlook/Recaps

  • CL, GC, 6E, EMD, 6J, ZS, NG, PL, ZN

Econ Data

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. 

  • PMI Manufacturing: ABOVE Breakeven 50 (decrease)
  • New Home Sales: POSITIVE (increase)
  • MBA APPLICATIONS: NEGATIVE (increase)
  • FHFA HOUSE INDEX: POSITIVE (flat)
  • HOME SALES: NEGATIVE (decrease)
  • EIA: POSITIVE (increase)
  • Durable Goods: POSITIVE (increase)
  • Jobless Claims: STEADY @ 260K (flat)
  • PMI Services Flash: FLAT  (flat)
    • ECONODAY: big third-quarter rebound that is widely expected
  • GDP: POSITIVE (WEAK) (decrease by .1%)
  • International Trade: NEGATIVE (decrease)
  • Corporate Profits: NEGATIVE (decrease)
  • Consumer Sentiment: BELOW 90 (decrease)
  • Janet Yellen: September Rate Hike more probable

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  with the 50/144ema and T3-50ema, a higher probability of momentum following through in TREND.
  • With some great setups this last week on other charts, this chart stood out on the ZS (soybeans). Price action continued even further after having posted this chart.

2016-08-25 ZS

 


Daily Recap/Outlook Videos: 

Monday

  • NQ:  51 Ticks (31/20)
  • YM:  10 Ticks
  • ES:   34 Ticks (13/12/9)

———————————————–

Tuesday

  • NQ:  22 Ticks 
  • YM:  48 Ticks (24/24)
  • ES:    12 Ticks 

———————————————–

Wednesday

  • NQ:  224 Ticks (24/200)
  • ES:   60 Ticks

———————————————–

Thursday

  • NQ:  Ticks (52/32)

———————————————–

Friday

  • NQ:  412 Ticks (106/306)
  • YM:  376 Ticks (38/338)
  • ES:   114  Ticks (34/80)

One Simple Strategy. ANY market. ANY chart. ANY time frame.

Manual Cover

e-Manual available on teaching this trading strategy and live trading room/screenshare

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