Levels and Thoughts for Wednesday 3/15/23

Inflation has cooled down at least for now? What's next

Hello traders, We had excellent short trades in globex. I placed setup to short against 3912 and it with 0 MAE the trade worked over night giving two chances to short once at 10 pm that gave 24 points leg down by 2 am and then again around 5 am for another 20 point leg down early in morning. With CPI data we went long against 3930 and 3940 that gave move to 3972. Then in afternoon we had two short setups that gave us plenty of points for the day.

Here is what we had on sub stack and also on telegram.

Some activities on side bar chat on telegram.

Econ Tomorrow:

08:30 EST PPI, retail, Empire state mfg.

10:00 EST Business inventory

I suggest to not trade night session from 10 pm to 2 am chop. If action has to happen than it will happen before 10 pm or after 2 am EST. You can generally play short on top level provided for nightly range and long on lower level of nightly range after 2 am or 3 am. But get out of the way if it rips or drops thru levels and wait for new opportunity or flip. And of course never add to loser and better yet cut it and reset.

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