May 17, 2018 -Three Strikes and You’re Out (Premarket)

Premarket Insight

Started my day to see the market had a pullback from yesterday’s close about 0.40%. I didn’t give much attention to the market or my trading strategy and execution as I was working on one of my other businesses before my trading time. Checked investing.com to see Fed news @ 8:30 ET.

 

At the Bell

Bummed out, low volume in NQ again. (sad face) In true low volume fashion, price bouncing around a lot. Price just too choppy in the premarket even for my scalp strategy to work out. Stopped after taking 3 losses in a row. 8:30 Fed news just resulted in quick bear move before reversing slowly. After COB I will review these plays to check accuracy of my execution.

 

COB Recap

Nice bullish run after the 1st 10 mins of the open market. Was able to catch a good scalp, eyeing the right place to exit before a significant pullback. After bouncing back bullish, saw price was catching strong resistance at the previous day’s close. waited for the best setup before entering for another scalp. Much better action than premarket. Nice and smooth, just like I like it!

 

Check out 5-minute charts of premarket and open hour plays below.
Third strike out for the premarket. In hindsight realized this play was too aggressive. Should have paid more attention to the 5 min.
Two successful open market scalp plays.

 

 

 

Rob

Mv3 Trader

 

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