Week 2 RECAP

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 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.

Markets 

  • YM, ES, NQ (RTH), CL, GC, 6E, 6J

*Results will vary for each individual trader based on market entry/exit and/or live versus simulated environment. 


TREND Charts of the Week 

Looking for the chart of the day 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.

core-chart-4

  • Great examples below of how with ALL charts in sync and price action  with the  T3-50/Heikin-oKu cloud, a higher probability of momentum following through in TREND 

Daily Recap/Outlook Videos: 

Recap 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.

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Week 2 Outlook

2017 rolled in with a dud as the indices found very little traction at first. While there may have been pockets of intraday trend, it was  a waiting game through the week from one report after another leading to the monthly non-farm payrolls report. The catalyst which seemed to make that final push for the week to the highs. High enough for the DOW to miss 20k by 0.37 ticks but good enough for the NQ futures to ring the 5K bell.

#NowWhat

As in any time in the past when indices to continue to push at the highs, there will be an evident of two sides in the market. Those that side with “when at the highs we go higher” and those that persistently are pessimistic and think the market should just crash. While I seek the short side as well, any good pullback is always signs of a healthy market, at some point, prices recover and make higher highs.

In the week to come I expect the YM futures to ring that 20K bell. Volume has returned in the market as multiple fed speakers this week can shake things up in both directions. Watch for Yellen’s speech on Thursday night. I can make the case that price action can lead in either direction at the highs. Do we pullback 50% of last weeks push higher or just a bit higher to shake out all the short hedges in the market? Probability at this point leads us higher on the bigger pic. Any news catalyst can also throw this market in the opposite direction so watch for the daily 50ma or major support on the MML (Murray Math) charts. Earnings season is also upon us with only weeks away from the major players which can sway price action as well. What can I say Jedi traders. Always be ready for both directions intraday. Long term holdings? It’s the start of a new quarter and time to re-balance with the gains of last quarter, time to take some off the top. 

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Monday

Chart of the Day

2017-01-09-cl-resistance-to-past-ob

  • Lame Duck session on the indices
    • NQ in divergent choppy uptrend
    • Crude sells off and opens up gap to the upside
    • GC/6E/6J uptrend
  • Economic Highlights
    • APPL gains – Pushes QQQ higher
    • Consumer credit is up
  • News
    • Jim Rogers says to buy “RUSSIA”
  • Charts
  • Overall Indices Trend:
    • Globex: DOWNTREND (NQ FLAT)
    • US Session: FLAT (NQ UPTREND CHOP)

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Tuesday

Chart of the Day

2017-01-09-3-index-pop-3

  • Chop, Pop and Drop
    • Indices rally after AM chop to only retreat
    • Crude closes out open gap below in sell of session
    • Pockets of micro trend on Yen, Gold and Euro
  • Economic Highlights
    • AAPL continues rally
    • Iraq to boost Feb Oil exports
  • News
    • Jeff Sessions confirmation hearing – Attorney General
  • Charts
  • Overall Indices Trend:
    • Globex: FLAT
    • US Session: FLAT

———————————————–

Wednesday

Chart of the Day

2017-01-11-initial-drop-3-indices

  • Big Volume on Words of Pre-POTUS Trump
    • Indices pre-trump news conference chop, drop and POP!
    • GC/6E/6J start off session downside
    • Crude recovers
  • Economic Highlights
    • Crude build – CL Rally
  • News
    • Trump news conference
  • Charts
    • Pre-market Trend Outlook: Click Here
    • Volatile VIX
    • Higher time frames kept you out of “noise”
  • Overall Indices Trend:
    • Globex: CHOP
    • US Session: UPTREND

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Thursday

Chart of the Day

2017-01-03-3-es-full-session

  • Trend #1/Setup #1
    • Indices rip downside and recover
    • Crude gaps up today and closes out former gap upside @ 53.32
  • Economic Highlights
    • Jobless claims up
  • News
    • Post trump new conference market reaction?
    • Multiple Fed speakers 3 cents on current economic status
    • Amazon hiring spree
    • DOJ to examine Clinton email probe
  • Charts
    • Pre-market Trend Outlook: Click Here
    • Indices – 2 trend session – down & up
  • Overall Indices Trend:
    • Globex: DOWNTREND
    • US Session: FLAT (Drop & Pop)

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Friday

Chart of the Day

2017-01-03-nq-post-25m

  • Lower Volume/Chop Session
    • Indices with AM lift and chop
    • Big Pic was FLAT for CL/6E/GC/6J with pockets of trend
  • Economic Highlights
    • JPM reports earnings – UP
    • Consumer confidence holding high but not showing up in retail
  • News
    • Nothing earth shattering
  • Charts
    • Pre-market Trend Outlook: Click Here
    • Volume drops; lower time frame or simply wait for another day
  • Overall Indices Trend:
    • Globex: CHOP
    • US Session: UPTREND CHOP

Recommended Read for January

  • Start off the year by getting your trading plan in place.

trading-plans

Website


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

Manual Cover

e-Manual available on teaching this trading strategy.

Real-time charts shared daily in screenshare room.


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.

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