Thoughts for Friday 4/28
PCE Inflation data tomorrow at 830 AM EST.
As usual we stayed on right side of the market. Here is what I posted going into Globex. Note how market flipped from 4092 after 3 am to the upside.
After RTH open we defined 94 to 04 as chop area and then gave 98 as bull bear. We longed at 4104 area which gave 10 points. Then again we longed at 4116 that gave rather slow 20 points to 4138 ish where we got out of longs and then stayed on sideline. EOD I gave 4162 as bull bear
Econ Tomorrow:
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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.