Jul 6, 2018 – Buy the Dip

Premarket Insight

Ended up not taking a live trade on the Fed news yesterday. The volatility that we usually see on Fed news was not present yesterday. But I did paper trade it for some profit, with one of the plays stepping a bit outside of my rules entering earlier than my strategy would indicate. That decision was based off a stronger indicator that I’ve come to be familiar with through my experience. However, I still would have been profitable sticking strictly to my rules.

Also, I’m getting a bit of a later start to my day today because my neighbors decided to play with their tools during the time I’m usually sleeping. However, I’ve been thinking lately to push my start time back to 8am EST since this is the time when the real volatility typically enters the market. I’ve seen the best opportunities happen after this time. Plus, when I return to the states this will be my start time anyway.

Today volume has returned to normal with a bit of choppiness for the instruments on my watchlist. On the calendar today is Non-farm Payrolls and Unemployment Rate both at 08:30 EST.


At the Bell

The market had a huge reaction to the 08:30 news mentioned above, NQ jumped more than 30 points in 5 minutes. That huge spike was followed by a pullback of half of that bullish move.

I ended up not taking any trades in the premarket. I missed one that would have resulted in a 10-tick profit. Looking for the next one. More than likely will only be playing CL today.


COB Recap

Missed another one on CL when it had a super big pullback to an area that confused me before shooting up hard more than 70 ticks in 10 minutes. Then it chopped around for a while. Just watching, NQ was chopping bullish after the bell.

Then they both popped, and I caught the pullback on NQ. I never really got the setup I wanted on CL, so I looked over at NQ and bought the dip. Finally ending the day with decent profit of $320. Should have been much more but I cannot complain at all.

Have an amazing weekend everyone!


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Mv3 Trader

“Trade Consciously”


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