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I expect not too much today as it is a shortened trading day.
In the Indexes, we probably visit new highs - at least for a short time.
This is also the most probable scenario for Friday.
GC:
Same like NQ.
But in regard to comparative analysis move it getting over-stretched.
CL:
If CL does not stabilize around 56,50 now it could easily fall to 54,50.
Above 56,50 we now have a lot of resistance.
A move up I would interpret more like short-covering after the 400 T drop.
Overall:
yields still seem to consolidate, especially short-term ones
Indexes around highs, market internals looking good
HYG came back the last few days a little bit more
Volas seem to come back down
HB/LV still rising
YEN-index came back last few days
Can you help answer these questions from other members on NexusFi?
But the book "Mind over Markets" is the most boring piece I had in my hands.
I couldn`t stand it . So I sold it right away.
For someone who "...isnīt a profile trader..." the author filled a lot of pages.
However, doing some more research on different kind of trading days is a good idea:
short-term yields consolidate, longer-term falling
Indexes around highs - NYA not market internals looking good
HYG came back the last few days
HYG vs. IEF consolidating
Volas seem to come back down - not Gold
HB/LV still rising
YEN-index came back last few days but still upwards
IndiMetals and Crude seem to consolidate
NQ:
In the Indexes, we probably visit new highs - at least for a short time.
GC:
In regard to comparative analysis move it getting over-stretched.
Seems to build trading range 1.380-1.450.
Most correlated over 1 week and 1 month with:
USD/THB
USD/SGD
USD/JPY...seems Asia shifting out of US assets into Gold.
CL:
If CL does not stabilize around 56,50 now it could easily fall to 54,50.
Above 56,50 we now have a lot of resistance.
A move up I would interpret more like short-covering after the 400 T drop.
I love volatility.
But GC does such nasty moves nowadays.
I am used fast moves from NQ, but GC is a biest.
If one has absolutely no time to react to a 50 T move,
it is getting absurd.
Traditionally Friday is my very worst day.
Overall itīs a losing day.
Glad to booked profits this time.
But have to work more on my drawdowns.
Last few day my net profit factor was low - should trade less and/or with less contracts until circumstances are more favorable again.
total number of contracts in winning trades / losing trades
-> averaging losers is bad; targeting skewness to the positive side
Average profit per trade
-> targeting more profit with less trades
