Welcome to NexusFi: the best trading community on the planet, with over 150,000 members Sign Up Now for Free
Genuine reviews from real traders, not fake reviews from stealth vendors
Quality education from leading professional traders
We are a friendly, helpful, and positive community
We do not tolerate rude behavior, trolling, or vendors advertising in posts
We are here to help, just let us know what you need
You'll need to register in order to view the content of the threads and start contributing to our community. It's free for basic access, or support us by becoming an Elite Member -- see if you qualify for a discount below.
-- Big Mike, Site Administrator
(If you already have an account, login at the top of the page)
News
we had job data and ppi
13:00 30y bond auction
13:30 feds bostic
Condition
i see no respected balance area at the moment
the market does not know what to do
it is very news-driven
we had some nice rejections on the upside but the market did not continue down in good way
difficult to trade
It is neither a clear continuation-context nor a clear reversion-context
Look for small scalps
Do not go for bigger trades as long as you dont have an understanding what the markets wants to do
Condition
We are consolidating on a higher timeframe
On my context timeframe i can see no clear structure
We have 2 on lows that are lower than the lowest rth low which is an argument that the low may be not in
Condition
Friday explored clearly lower and ended with a poor low
Todays overnight brings the market clearly up
Thoughts
We have to see if this is only covering or if the low of the conso is eventually in
In the latter case we could see longer term dip buyers and more covering
As long as we stay above april 4s low or any other line in the sand (fridays mid for example) i lean more to the bullish side
I did not show my trades the last days because i have some technical issues
My home is under construction at the moment, so i have to work from two locations on two different sierra chart instances which makes it difficult to bring all the fills together
Lowered my trading-timeframe
I have been thinking about this for some time now and now i took action and lowered my trading-timeframe.
I feel i took too much risk in trying to enter at the start of an intraday-swing. This is very antizipative
So i will decrease risk at this point and at the same time take more scalping-risk
It will be a bit less antizipation and a bit more seeing what is and follow
This approch brings in more of the advantages that we have as small traders compared to bigger participants
