Aug 10, 2018 – Channel Red

Premarket Insight

Typical Friday, things got going strong early in the Asian market hours, bears all over my watchlist (Futures NQ, CL, GC, and 6E). Doing my volume check around 07:00 EST volume is the strongest it has been all week.

Nothing significant on the calendar today, but with headlines about Turkish economy and Fed inflation with this strong volume there should be some significant volatility in the market today. Regardless, my focus today is to be aggressive with discipline and consistency.

 

At the Bell

Leading up to the bell, NQ bounced sideways in a decent tradable channel. CL brought out the bulls strong, doubling the bearish move from the Asian hours.

QQQ gapping down (of course) to open the market. Yesterday, in RLT’s afternoon swing room, there was a prediction of bulls today if QQQ gapped down. Let’s see how it turns out. In the first 5 minutes the bulls came right in.

 

COB Recap

Simply got slaughtered while NQ bounced in a channel. Was consistent and disciplined with my NQ trades but today was just not a good day for my strategy. Hit my third strike right at lunch so no more trading for me today.

Got a good one on CL but after the frustrating loss on my first play over-managed what would have been a successful target hit. Instead, just took 2 scalps that did very little for my P/L today.

Beyond frustrated with the market and myself!

 

Click the image for more details.

 

 

For real-time insights follow me on Twitter! @Mv3Trader

 

Comment below with your opinions and questions.

 

Rob

Mv3 Trader

“Trade Consciously”

 

Aug 9, 2018 – At the Buzzer!

Premarket Insight

Looking at my charts for the first time today at 08:00 EST, noticing volume overall is better than yesterday. There was some pretty good action in the Asian market hours basically thanks to more “trade war” sentiment according to investing.com, but not much going on since. As of now, NQ volume looking a bit low leading up to initial jobless claims and PPI reports.

On the calendar today, Core PPI at 08:30 EST, as mentioned above.

 

At the Bell

Not much at all happened in the premarket. Today, my focus is to trade my strategy confidently with discipline, which should be the norm for me by now, but it is what it is.

Another day of extreme choppiness in the first few minutes of the market that got me, even though I traded my strategy to plan, so no stress. Just be ready for the next opportunity. It’s part of the job.

 

 

COB Recap

A rough and crazy morning getting mostly scalps just to get back flat after taking that early loss. Ended up taking one last “for the win” shot at NQ, but didn’t work out, putting me in the red for the day.

Got a couple baby wins on CL so that helps ease the pain. Even did a little overtime trading through the lunch hour, but still there was no energy in the markets. Tomorrow it is!

 

Missed the buzzer beater. LOL Click the image for more details.

 

 

For real-time insights follow me on Twitter! @Mv3Trader

 

Comment below with your opinions and questions.

 

Rob

Mv3 Trader

“Trade Consciously”

 

Aug 8, 2018 – Minimum Success

Premarket Insight

Apparently, the U.S.-China “trade war” has people scared to trade this morning as market volume (NQ at 19k as of 07:30 EST) is extremely low, with not much going on so far looking at the Nasdaq Futures 5-minute chart. This low volume is present in other areas of the market as well (gold, crude oil, and Euro forex).

On the calendar today, Crude Oil Inventories at 10:30 EST.

 

At the Bell

Not long after I wrote the premarket insight a ton of selling started in the markets around 07:45 EST and volume picked up a bit. There was a lot of selling in other areas of the market as well. CL already down more than 1.34% (94 ticks). With that type of selloff in the premarket, may just be sticking to NQ today.

From a technical analysis point, the NQ selloff on the daily chart makes sense as it ran into strong resistance.

 

COB Recap

So, I clearly misread the sentiment on CL today. It continued to drop and gave a ton of opportunities that I missed out on. Could have given me a really strong green day. Really frustrating how I keep letting this fear get the best of me. I took one play in CL that was a loser do to wrong timing.

Still green though thanks to NQ. Caught the one good move in the morning session and pretty much ended my day there. Would have been really nice to get all that profit from CL, but I can’t complain too much finally having a green day again.

 

Click the image for more details.

 

 

For real-time insights follow me on Twitter! @Mv3Trader

 

Comment below with your opinions and questions.

 

Rob

Mv3 Trader

“Trade Consciously”