Another day where volume is looking strong in the market early. At the beginning of my day GC and CL has already had significant moves, both bearish. NQ is pretty much trading sideways in a pullback from yesterday’s big selloff. However, as of 06:20 EST, the volume is already above 50K which is something we haven’t seen consistently in some time.
On the calendar today, CB Consumer Confidence at 10:00 EST.
At the Bell
No trades place in the premarket. Had an order out for CL short but didn’t get filled. NQ bounced around all morning, however my premarket attention should have been there as there were a couple good opportunities after 06:00 EST.
Five minutes in and it looks as if the bears will be controlling the markets again as NQ bounces strong off a key pivot. Today, I am determined not to miss this volatility no matter what.
Another possibility, a retest on yesterday’s gap (see QQQ) could be in the cards for today’s market action. And as always, choppiness is always a possibility. Morale of the story, be ready for everything. (Insight I needed yesterday)
Guess the later was right, Market just chopped along all day and it didn’t help I took some trades like a newbie, missing where I should have got in and chased it, which is definitely not the thing to do on a choppy day. Maybe this will be a day where there is a play during lunch…
Getting out of my emotions though, looking at the big picture, I only chased one time (which is the one that got me in the red for the day), but today’s struggle is simply because it is one of those rare days what my strategy doesn’t work so well. The problem is not with my trading, with the exception of me getting emotional from that last loss.
Could try to recover in the afternoon session but may opt to just step away and get back at it tomorrow unless I can get my emotions under control during lunch.
Comment below with your opinions and questions.