Recap & Playbook for Week of Jan 8th
Break out of fake out?
Traders, hope you had great relaxing week and you took some time to review your trades that worked and did not work and why. And what you will be improving on next week on your trade and risk mgmt.
Last week ES futures continued to honor 3820 to 3880 range with few spikes up and few spikes down. This range continued up until day 14 even after Jobs report on Friday. It was only after weak ISM numbers at 10 am rally started that was out 3880 and then 3900. It hit wall at 100 Day SMA at 3927. As far as trading goes we continued to make points thru out the week with Shorts and longs.
Here is recap of some of setups on Friday.
As I posted on twitter, Making plans and levels is easy work and I see lot of sub sellers just doing that, selling plans and levels and analyzing that at the end of the day. That’s not that difficult, what is difficult for you as a trader is execution in real time. You have to throw away all the biases and guess work and trade what you are seeing. Flipping based on market action is part of that. Don’t get tied to a particular bias
Play book next week
Remember it was weak ISM that caused rally and not job numbers. Will be watching for Powell on Tuesday and CPI on Thursday. On downside I will be looking for retest or failure of 3912/16 and 3883 next week. Rest of the levels, live setups and other educational content as it happens are posted on private telegram/twitter. Upgrade to see action.
