Recap today: We had trend day expected today with really good bull bear, though we did not pursue some trades as aggressively as I would have liked, specifically long after PCE from 76/80 area. We made decent handles though and we had great setups that worked most of the time. Our levels worked perfectly as mentioned in the below X post. Globex gave 84 to 60, PCE gave 84 to > 5100, RTH open gave 98 Short to 70. We longed in last two hours from 90 to 5115.
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: We had short stint inside 400 point chop box during last week of October but now we are back outside, until we go back inside bulls are on full control of the tape.
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