Today's OPEN was 3858.50 with overnight trading flat. We are opened in value and in range. Since we are in balance an opening trade is not making much sense unless the opening candle is very small and risk limited. Opening candle was only 4 points and would have been a good entry for a short. … Continue reading 11/02 Wednesday FOMC
11/01 Tuesday
Open today was 3921.75 which was out of range and value from yesterday's range high 3904.50. The first part of the session we have to watch if this gap closes and then trade with the trend or if the gap will stay open. Then we can also trade with the trend. If price trades within … Continue reading 11/01 Tuesday
Monday 10/31
OPEN at 3884.24Overnight trading was mostly short. We are opening in range and in value from Friday. The opening range (first 1 minute candle) was too large for my risk appetite, with a range of 7.75 points. The IB is very small, A period high is at 3894.75 and B period low at 3872.25, making … Continue reading Monday 10/31
Friday 10/28 Trend Day
-609.60 loss!! -61% At 5:30 we had a sharp upward trend that closed the overnight gap from yesterday's close. Then at 6 am we kept trading, making the gap close. Open was at 3818.50 which was the value area low from yesterday. Lower value was rejected from overnight lower value. The first minute candle was … Continue reading Friday 10/28 Trend Day
Weak
The orange line is a weak low. First manifested by the low in B period on 10/25 then as the day's low on 10/26 and overnight low. A weak low represents unfinished business. It will be revisited and that is what happened on day three on 10/27. It is the area where POC for the … Continue reading Weak
Thursday Trading 10/27
I went short at 6:38 at 3857 based on the stacked imbalance at 6:36 candle. Trade worked out but I went out too early. We opened at 3850.75 and traded across the open price until 8:30 E period. Due to stacked imbalances at the beginning I was able to to get a decent trade early … Continue reading Thursday Trading 10/27
Wednesday 10/26 Open Test Drive reverse
We had a late spike yesterday and we opened below the late spike yesterday. We opened at 3837.25 which should mean rejection of higher prices, but we did not reject higher prices. We left an excess high at 3897.50 in E period at 8:30. The price then circled back down to a weak low at … Continue reading Wednesday 10/26 Open Test Drive reverse
Tuesday 10/25 Trend Day
Today started of with the assumption that price and value will drop. Yesterday we topped out at the important level of 3820/3822 swing level high from 10/5. This was an open auction day that did not look back or retest. The IB also only brought in 1600 new contracts only, a very anemic level. Additionally, … Continue reading Tuesday 10/25 Trend Day
Monday 10/24.2022
Day started out of range and value and also Friday, the last trading day ended with a spike. Initial trading was slow circling back to open price of 3779.50. Futures trading volume was up on Friday. The 6:45 candle tested the upside and did not reach the overnight high. The first range extension was to … Continue reading Monday 10/24.2022
Trend day, open drive retest
Today started out slow. I took the opening trade short because the first candle of the day had a range of only 5 points. I got stopped out pretty quickly with a 10 tick stop loss though, unfortunately. Most likely, that was due to stop running by larger players. The overnight high of 3776 was … Continue reading Trend day, open drive retest
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