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Only 2 small scalps so far today, 1 long this morning, and one short just a few minutes ago around 93.18. Only 34 ticks net, I know I am just nibbling here, but last night saw that we had an extreme calendar and am just watching in the background today, taking the low hanging fruit and keeping my powder dry. I still would love to see a retest of the lows.
Very nice. I traded exactly 2:00:00 minutes after the Wkly. Inventories (after I had done my '1 & done' regular Wed. CL trade beginning after 9am est).
It was a good long (recall I emailed you the philosophy behind that particular trade logic about 3 weeks ago).
Regardless, good work.
We have alot of time left this week and the markets (I anticipate) will continue to MOVE.
I have traded major reports in nearly all asset classes for 27+ years.
Now, do I feel that economic or fundamental or news leads the technicals or vice versa?
Hint: (my opinion) It matters not.
Trade your plan and plan your trade. Execute with precision and swiftness and manage your trade according to your own pre-set 'trade-management' parameters.
That being written there are several reports per month I 'elect' to wait exactly 2 minutes, not a second less nor more after the report to then look at legit trade setups.
Monthly Non-Farm Payrolls, Weekly CL Inventories, CPI (if combined with 1 or 2 'red-level' economic reports), PPI (if combined with 2 'red-level' reports) and I that pretty much is it.
I used to wait 30 minutes after FOMC; hey, the importance of that report is greatly diminished since we are @50 year lows in interest rates.
Off topic I am looking for a weekly low in bonds/notes; but we shall see.
After I come back from my overseas summer break that straddles Labor Day, I'll come to the 'hood that is Orlando and we will pow wow and I will show you my nearly 100% mechanical stuff that you could use for swingtrading and/or longer-term intraday trading etc...
We will see if we have an actual meeting of the minds. Maybe I will whip you into shape and brainwash you!!! Maybe you'll just say thanks but no thanks and we'll have a few espressos and some good meals (haven't been to Orlando in at least 5+ years--so would be a nice short visit).
hehe! j/k on the brainwashing.
I won't be back @my part-time place in Coral Gables/Cocunut Grove until November because the 'swamp' that is Miami is too humid for me from April through October each season.
I am done until the last 90 minutes of the U.S. session and I'll see if NQ can make a directional move that I can stalk a trade on.
I am looking for a trade into the pit close. Not sure what it will be, and not sure I will take one, but the pullback I have been begging for is underway.
" I will follow my rules, I will take my stops, I will be disciplined and i will work with the market....NOT AGAINST IT! Professional mind control is the key"