Plan for April 28 Monday
Market is inching towards 5700 mark
Hello traders, last sunday I flied back home and now over with jet lag. Last week Trump and Treasury Secretary Bessent’s comments alleviated market fears, leading to a recovery after an initial decline on Monday. Overall these news are going to drive the market but we do not anticipate these news/comments or its impact on market, as no one can do that and if some one is saying that then they are lying to you. Your job as a day trader is to be on right side of the market for next 20-40 handles.
Market has rallied 700 handles from lows in last couple weeks in face of changing narratives We had great week overall with setups/levels, Here is preview of what we did on Thursday and Friday.
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Econ for Week
JOLTs on Tuesday, PCE, MSFT, META on Wednesday and AMZN, AAPL on Thursday
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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