Week 38 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: 29 setups;  1217 Ticks NET  ( NQ: 1041 | ES: 176 | YM: 0)

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. 

  • Housing Market Index: ABOVE BREAKEVEN 50; increase
  • Housing Starts: BELOW 5 Month AVERAGE (decrease)
  • Japan : Bank of Japan Announcement: UNCHANGED
  • MBA Mortgage Applications: NEGATIVE (decrease)
  • EIA Petroleum Status Report: DRAW (increase in negative)
  • FOMC Meeting Announcement: NO RATE HIKE
  • Jobless Claims: BELOW 4 week average (decrease)
  • Bloomberg Consumer Comfort Index: Respectable but FLAT with the consumer comfort index now heading south.
  • Existing Home Sales: Prices are soft and resales aren’t coming into the market.
  • Leading Indicators: Weakness in the factory workweek
  • PMI Manufacturing Index Flash: Very soft month for Markit’s U.S. manufacturing sample where the flash PMI is down from 52.0

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 charts in the GREEN and price action  with the  T3-50/Heikin-OKu cloud, a higher probability of momentum following through in TREND.

9-21-16-es


Daily Recap/Outlook Videos: 

Monday

  • NQ:  Ticks (63/162/24/24)

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Tuesday

  • NQ:  Ticks (24/24/24/24)

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Wednesday

  • NQ:  411 Ticks (24/55/53/109/170)
  • ES:    118 Ticks (12/22/24/24/36)

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Thursday

  • NQ: 67 Ticks (38/28/-10/11)
  • ES:  58 Ticks (20/12/12/14)

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Friday

  • NQ:  194 Ticks (44/126/24)

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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