Thoughts for Monday 12/11
Bulls continue to push higher, We rollover to March contract, CPI and FOMC in focus
Last week I was traveling so was able to communicate very little but kept my promise of posting setups and bull bear that worked great. On Thursday we were short 92 and 76 and then on Friday we were long against 92, giving enough points to wrap the week.
Hope every one was able to reflect on their trades last week vs setups vs risk management strategy to continue to improve their execution.
Coming week we have notable econ coming up with CPI on Tuesday and FOMC on Wednesday. This should provide enough volatility in both directions.
Econ for week:
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
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