Plan for Oct 31 Thursday
AMZN, AAPL ER Pending, META and MSFT disappoints, Core PCE & Jobless claims tomorrow.
Hello Traders, X post shows what we did today. In addition we shorted 76 in afternoon that gave 20 handles .We stayed out rest of the afternoon to short last few minutes 5860 multiple time, and now we are 24+ handles lower at 5834.
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Earnings this week
Econ for Week
Notables are JOLTS, PCE and NFP.
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 tampe reamains bullish.
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