From yesterday and doing some back trading research this morning I discovered my stop needs some attention. I haven’t been very disciplined with sticking to the stop plan built into my trading plan/strategy. I will fix this today.
At the Open
The market opens up with another fresh session of choppiness after a crazy surge premarket what looked to be a response to CPI report @ 0830. Took one play that failed. Now just watching for a while seeing how this 1st hour will play out. Staying patient for the best setup.
So it was another frustrating day of no decent volatility as NQ continued a slow choppy bullish climb keeping me pretty much flat for the day. Even though there was a little movement I didn’t get the setup I really wanted so I decided to stay on the sidelines and just watch.
And as I’m typing this, looks like the market is making another strong lunchtime push bullish. This makes no sense to me as lunchtime is usually one of the worst times to trade. People don’t eat??? Maybe this is somehow related to the low volume and volatility.
Any thoughts? Feel free to leave a comment or suggestion below.
*UPDATE: Turns out people were only getting some lunch money as it didn’t continue to push from the pop. Gave a 5 min shooting star before falling hard.