Trading or investing in stocks & commodities is a high risk activity. Any action you choose to take in the markets is totally your own responsibility. You are recommended to make appropriate inquiries and seek appropriate advise before sending money, incurring any expenses, acting on recommendations or entering into any commitment in relation to any reference published here. Past performance is not necessarily indicative of future results.
Looking at the week behind 1 day @ a time…..
Good trading is always going back over the trading day 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 setup is the objective. It’s your patience and discipline that will continue to grow as a trader when you implement such tools.
Markets: YM, ES, NQ (RTH)
*Results will vary for each individual trader based on market entry/exit and/or live versus simulated environment.
Markets Covered: ES, YM, NQ, CL, GC, 6E, EMD, 6J, ZS, NG, PL, ZN
- AM volatility turns to PM selloff
- Non Farm Payrolls release – nothing exciting; revised prior months
- Cubs parade far more exciting!
- CL news related event sends it in both directions.
- No new open gaps formed or closed today
- 4hr incides charts remain in a downtrend
- ES holding at the 200ma; NQ/YM inside the 50/200 gap
- Pre-election uncertainty heating up
- Overall trend of the day: DownTrend (CHOP, POP & DROP)
Charts of Interest
- NQ; Post NFP data release, AD line rejects at the pivot – good place to manage setup or exit.
- NQ; 2m to US market open; volatile start from arrow to arrow .
- ES; Solid trend upside until price action reaches level 0 on the NISS-SP.
- CL; Volatility at its best.
- NQ; Using the AD line as an adjunct indicator when the setup looks good on the left chart at the fib projection level may just hold you off from taking the trade.
- NQ; order flow in combo with the AD line reflecting the resistance at the tops.
- NQ; With no follow through on the AD line, price action failed.
- 3 index drop after pricre action unable to hold at the high of the day.
……view additional charts posted intraday via Twitter
Setups reflective of highest probability setups based on price action crossover of T3-50 and 50/144ema cloud with 1 of 4 possible trade management setups and exit strategies. Market order entries/exit will vary whether simulated or live for each trader. All setups are called out on real time charts in a screenshare room and randomly posted online.
Government Required Risk Disclaimer and Disclosure Statement
CFTC RULE 4.41 – HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING. ALSO, SINCE THE TRADES HAVE NOT BEEN EXECUTED, THE RESULTS MAY HAVE UNDER-OR-OVER COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFIT OR LOSSES SIMILAR TO THOSE SHOWN.