Week 36 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: 11 setups;  573 Ticks NET  ( NQ: 489 | ES: 0 | YM: 84)

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. 

  • Gallup US Consumer Spending Measure: UNDER $100 (decrease)
  • ISM Non-Mfg Index: ABOVE 50 (decrease)
  • Labor Market Conditions Index: NEGATIVE (decrease)
  • MBA Mortgage Applications: POSITIVE (decrease)
  • Gallup U.S. Job Creation Index: FLAT for 4 months straight
  • PMI Services Index: Above 50 (slight decrease)
  • JOLTS: STEADY CLIMB (increase)
  • Beige Book: MODEST GROWTH
  • AAPl Live event: Iphone 7; iwatch update

appl-live-event

  • European Union : ECB Announcement – ZERO
  • Jobless Claims: ABOVE 250K (decrease)
  • Bloomberg Consumer Comfort Index: ABOVE 40 (43.5 average for the year) (increase)
  • EIA Petroleum Status Report: DRAW – NEGATIVE (decrease)
  • Multiple Fed Speakers
  • December contract volume increased
  • North Korea blows up a nuclear warhead 

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.
  • Couldn’t ask for a better setup under the T3-50 with ALL 5 charts in the RED on ALL 3 indices – Overnight session.

9-09-16-overnight

  • With the overlay of the key moving averages from the other charts on the right to the chart on the left, with ALL 5 charts in the RED made for a high probability setup to continue in trend.

2016-09-09_mtf-nq2


Daily Recap/Outlook Videos: 

Monday

US Market Closed

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Tuesday

  • NQ:  Ticks (22/2/93)
  • YM: 84 Ticks 

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Wednesday

  • NQ: 44 Ticks

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Thursday

  • NQ:  118 Ticks (20/11/11/76)

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Friday

  • NQ: 210 Ticks (75/175)

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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