Thoughts for Friday 4/7/23

Employment report at 8:30 am. futures closes at 9:15 EST and equities closed.

Traders, hope you had great day today. Do note that tomorrow futures market closes at 9:15 AM EST due to Good Friday holiday. To recap today, we went with neutral bias as far as price stays between 4108-4118 into the globex

This is what I posted yesterday night. Price pretty much respected 4108 to 4118 area except a spike up to 4124 area which is what we were watching for bulls to capture. In RTH open we had 4108 as bull bear line and we stayed short below and longed above it. We also had stayed out of chop later in the morning. We longed 4118 and then shorted 4134 later. though 4198 broke, bulls recaptured that pretty fast.

Econ Tomorrow:

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.

Rest of the content is for paid sub stack users and is also shared with users on private twitter/telegram via message.

Sub stack subscription does not include real time telegram alerts it only includes this nightly news letter with levels and possible setups. For real time alerts please go to https://futuretrader400.substack.com/about