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I exited my MES short trade a bit earlier for new reasons:
News reactions coming up
A point above the ON lows
Start the week with first green trade
I drew the a new blue line, as I am guessing a change of trend-lower today and possibly the news few days. Price action and volume will confirm soom....
Lots of News and Feds today. My channels and TLs will not help me much. I may just trade ( sell) as the Feds speak since I have a feeling the will say the "I" word few times.
It's maybe easier to just sell markets very small today with a wide stop and cover EOD...
Only one chart I like, and it is still very weak; MCL
Trade with tight stops and care today. Lots of risk.....
As stated earlier, I just went short the "market" early on, with very small size and wide stop. Any breaking news can trigger a stop loss, either long or short. And we should have many "BREAKING" news today.
There was one setup on MCL, which I took twice. The first time I got stoped with -27 ticks the second I took a manual small gain as more OPEC news broke.
I still think the Feds may sells us off into the close, but you never know. One mention of deflation and we can be up 2% in minutes if not seconds....Again, too much risk for day trading, so I am done.
