Plan for April 14 Monday
600+ handles bounce from lows. Tariff and trade war continue to be in focus in coming weeks/months.
Hope you all had a great weekend. Last week market popped 600+ handles from lows with tariff pause news causing relief rally. This week market will be closed on Friday. I will continue to post levels only on daily basis mostly on Telegram going forward. Last week on Friday we were able to capture bunch of handles with an unusual setup of selling all pops < 5336. Right after lunch we also captured long side by longing 5340 and then shorting 5400 to end the day.
We also captured 400 handle long move last week on Wednesday.
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Econ for Week
Night session Trading Suggestions:
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.
Remember: I never short above or long below my marker. I wait for it to pause before it or come back to it from rip/dip and pause before executing.
Never take position before Econ like CPI Or FOMC. After econ watch for levels where it stops and how it interacts to decide long or short.
Recommended stop: -2 and go to BE on +2. Some ppl who can't reenter shall chose -3.5/4.
Scale out: 2 lots at +6/8, 3rd at +10/16, 4th leave runner at BE
Big picture: < 5700 this remains bearish.
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