Premarket Insight
Cold, rainy day here in the Philippines making me sleepy and lazy. Not a good recipe for an active day trader. That plus not much going on as of yet in the premarket. Volume is low and price action is virtually non-existent (watching GC-gold).
On the calendar, some PPI news at 8:30 and Fed action at 14:00 EST. Could be an interesting day after the bell. Praying for volatility.
At the Bell
Struggled again in the premarket with GC just bounding around, taking a long time to pick a direction. Not much else happened elsewhere in the market before the bell.
After the bell, NQ started another strong bull run in the first 10 minutes. Staying patient with my rule, waiting for a good entry to play fearlessly.
Choppiness got me after my green lighter taking an L on my first play. After looking back at the play, maybe played stop too tight here but it easily could have stopped me out for more, so I ain’t tripping. Setting up for the next opportunity.
A bullish pop here would mean another new all-time high (ATH)! Previous high at 7258 (NQU8).
COB Recap
Missed the break to the new ATH after getting stopped out. This preceded to me calling an audible and making a play on ES (S&P Futures) thinking it would follow EQ. I usually watch ES daily but rarely playing it.
However, thanks to some convo in the chatroom I’m a member of, realized something very interesting that I could use based off my strategy to play ES daily. Will do some in-depth studying and paper trading before going live with this insight.
Today, will more than likely play the Fed news in the afternoon, as Fed news usually offers great opportunities in the afternoon. For now, some quick midnight lunch (Philippine time) and study session.
Comment below with your opinions and questions.
Rob
Mv3 Trader
“Trade Consciously”
