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Amazing what "a little bit of Jessica," and china will do overnight. Here is my morning chart, but I think, its all news today. Markets will most probably have wide swings on every tweet/breaking news. So, I was wrong, markets are anything but boring today!
Here is a trade that I would normally do based on channel support/resistance. But notice the volume on the up bar is much higher ( Same on the ES) than the one on the down bar. We are maybe going up soon, but would like some (positive) news confirmation.
I really don't like Gap down days and have never been able to trade them well. Today was no exception. Everything looks easy now, but I could not find a good entry point. I had few planned, but either the price broke these levels with ease, which scared me, or I just did not pull the trigger. There were also a couple of breaking news, but I thought they were just a re-hash, nothing new. It was a mistake not the short additional bad news.
No MES trades, just the spread trade earlier.
I am only up $16 for the day!
Chart explanation:
1) It was a good long and should have taken for the daily goal. I did not. since it did not reach the line.
2) I had planned a long but price broke support with ease, so I back out.
I really cannot pull the trigger on anything. Any kind of news will kill any set up or S/R on any TF. I did see a good set up last night ( long MES), but did not feel like staying up all night looking for news . I am just watching the news and if anything breaks either way, I will join in. I did buy some weekly Apple calls ( exp in 3 days). There was a good set up on the daily. Total risk there is about $200.
I did not trust any of my VSA/PA set ups today. It seems like a day were everyone waiting on a tweet! I did trade the news some in the morning and lunch ( around work). Basically, I wait for breaking news and add to winners as price moves. This is for MES. There is one trade for CL and that was a mistake. I clicked the wrong instrument. I got out as soon as I could and luckily, I was out with a tick. No spreads today. My AAPL calls ( 2) are down a total of $89 as of this post.
Again, just news trading today and one spread. The spread closed only at +$27 only as NQ was moving very fast. I am still holding the AAPL calls and did buy cheap CL out of the money calls as well. I have the feeling that both of these instruments are over done and should see a bounce back soon.
I am up $158 today and will stop at that get back to work. Easy day, with low stress and draw.
. I am just watching the news and if anything breaks either way, I will join in. I did buy some weekly Apple calls ( exp in 3 days). There was a good set up on the daily. Total risk there is about $200.