Prices are rallying strongly so far this morning, so stay with the trend until the price action shows us otherwise. Just understand with all that is going on in the middle east, you should be ready to exit or switch gears at any point, as news travels quickly these days, and if something unexpected were […]
This is a live trade sent to me by one of our students. This is a great set up and his read is very good here. Nice trade by this student. Thanks for sharing it!
Prices appear to be range bound again today. As I am typing, prices are mildly working lower. It appears prices will attempt to fill the lower gap at a minimum, and that target is down at 6036.00. How prices move from there will give us a better idea of how this day might go. As
A reminder that today is an FOMC rate announcement day, so make sure you are flat before 1 PM CST, and not enter any new trades after 12:00 Noon CST and wait for things to return to normal before attempting to trade again. Do not take this suggestion lightly, as trading during an FOMC announcement
While prices are in a mild uptrend at the moment, this still looks and feels like a range type day again. For now, I would call this a range with an upward bias. That bias could change multiple times during the day if this remains a range day. Respect the overnight highs and lows until
Note that today is roll over day, but I have not rolled yet. I will roll later today or tomorrow as the volume is still about equal in both charts. You can trade either chart, but I like to remain with the current chart until the volume starts to slow a bit first. You generally
Prices sold off strongly during the overnight session, probably related to the Israel and Iran war talk. Prices eventually rallied and took some of the selloff back, but they have turned down again for now. There is an overhead gap on the chart, and if prices attempt to fill that gap, that target is up
Another early range with prices trending higher at the moment. Prices are testing the highs as I am typing this up, so respect those price levels until the price action proves they will no longer hold as resistance. The same with the lows if prices turn down and work towards testing support. For now, I
Prices look range like again today. Prices are trending higher as I am typing up this report, but how prices respond at the overnight highs will determine what comes next. Respect both the overnight highs and lows until the price action proves those price levels are no longer holding. For now, I will call this
Prices are mixed and sideways in a tight range this morning. The volume and volatility remain rather low as well. Expect mixed trading and be careful trading the tight stuff, as you can get trapped and stuck in that type of price action. Hopefully things start moving soon.