Hello traders, we kept on getting our handles through out choppy last week after Monday’s big move. Yesterday after market close Moody's downgraded the U.S. credit rating from Aaa to Aa1 on May 16, 2025, citing a growing $36 trillion debt and rising interest costs. The agency expects federal deficits to reach 9% of GDP by 2035, driven by increased debt payments and entitlement spending. Moody's had not downgraded the U.S. since it first assigned the Aaa rating in 1919. Every one will be talking about this coming week so but we do not trade news, we trade what we see infront of us.
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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 bullish.
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