Sunday Prep: Week of April 21-26, 2024

The 20M chart is not very clear. Both bulls and bears have a case:



But the 1H chart is very clear, sell these areas:




And keep an eye on the news. Breaking news will change all slopes/bias very quickly.

K

Trading Journal: Price Action & Volume - April 22, 2024

The first trade was a large spread bar with volume behind it, closing at the high. Also, the price failed to reach/touch the bearish channel below (bullish). I took one long at MKT at the close of the bar and added as the bulls continued. I took profits at the Double Top /ON highs, which happens to be 10+ Points. The second trade was really a mistake (was added to!) and should not been taken, even though it worked as planned. The PA was very strong, and it could have easily moved much higher leading into a daily loss or breakeven instead of another 10-point day. I moved my target to +5 and got that on both positions. I am up 17.75 points for the day.



Hourly is changing to either sideways ( trade 20M chart in both direction) or possibly bullish starting tomorrow.



K

Trading Journal: Price Action & Volume - April 23, 2024
One and done for +11.25 on a full position.

More damage for the bears on the Hourly chart, MES.