Week 40 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: 13 setups;  485 Ticks NET  ( NQ: 381| ES: 104| 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. 

  • Gallup US ECI:  38 percent of Americans saying the economy was “getting better,” and 57 percent saying it was “getting worse.
  • Redbook: Same-store sales rose year-on-year by a very strong percent
  • Fed President Jeffrey M. Lacker: POLICY RATE SHOULD BE AT LEAST 1.5% BY NOW; he would have voted in favor of an interest rate hike at the Fed’s September policy meeting had he been able to vote
  • MBA Mortgage Applications:  were down
  • ADP Employment Report: significant slowing
  • International Trade: trade deficit widened
  • Gallup U.S. Job Creation Index:  job creation index held steady
  • PMI Services Index: growth is improving
  • Factory Orders: edged only 0.2 percent higher
  • ISM Non-Mfg Index: new orders are especially strong
  • EIA Petroleum Status Report: oil inventories fell
  • Chain Store Sales: weaker sales
  • Challenger Job-Cut Report: Layoff announcements rose
  • Jobless Claims: keep moving lower and lower
  • Gallup Good Jobs Rate: down from the 46.5 percent measured in August but still higher than any other September rate recorded
  • Bloomberg Consumer Comfort Index: broke lower at the beginning of September
  • Employment Situation: not that strong
  • Wholesale Trade: slipped (negative for current GDP growth)
  • Consumer Credit: very strong

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

GC

10-04-16-gc-continues-drive-4

ES

10-04-16-es-post-lunch


Daily Recap/Outlook Videos: 

Monday

  • No Trades

———————————————–

Tuesday

  • NQ:  Ticks (47/58/2/64/11/11/97)

———————————————–

Wednesday

  • No Trades

———————————————–

Thursday

  • NQ:  Ticks (2/27/53)

———————————————–

Friday

  • ES:  104 Ticks (23/56/25)

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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