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Takeprofittrader

Morning Ideas August 5, 2022Good morning traders, NFP numbers came in hot, adding 528,000 jobs vs 250,000 expected. The market may have been expecting more because we sold off 40 points in the SP500 immediately. The selling brings us back into the thick area around 4120. I am looking at 4160 as the scene of the crime, and the market needs to get through 4180 before I think it's reasonable to see a squeeze towards 4250. Below, I think 4060 is key if we want to see the market stay in this dense upper area. If we fall below 4060, I think we start to attack the lower prices in the profile. This would mean we'd see prices well below 4000. Your (educated) guess is as good as mine, but look for those areas to be key today.
CME_MINI:ES1!Long
by TakeProfitTrader
Morning Ideas July 27, 2022Good morning traders... FOMC minutes are today at 2pm eastern, so again, I do not expect a lot of directional movement. We had more directional movement than I expected yesterday, but we ended up taking it all back at the close, due to earnings reports from some big companies. It pretty much leaves us in the exact same place we were at the open yesterday, and I would expect to see more of what we saw overnight, than what we saw yesterday. If we start to trend off the open, I would be careful chasing it into the FOMC minutes.
CME_MINI:ES1!
by TakeProfitTrader
Morning Ideas July 18, 2022Good morning traders... Running back into 3910 area, as expected once we were unable to hold below 3775. 3910 is a key area today, in my opinion. I think if we can take 3910 (THE KEY IS TO HOLD ABOVE IT), I think it sets us up for a rally into 4000 area. I would remind you that lately this market has had several chances to regain these higher prices, and it has failed almost every time. What does this mean for you? I wouldn't chase the market up here. Wait to see if it can hold above 3910 before you decide that it's time to get long. Make your own plan, just giving you mine :)
CME_MINI:ES1!Long
by TakeProfitTrader
1
Morning Ideas July 15, 2022Good morning traders, A bit of a push on news right after 830 this morning, but nothing has changed. Still a very murky picture. Volume all over the place, but concentrated heavily on the bottom. I expected to see a bigger "flush" yesterday, but we just didn't quite get it. I wouldn't be surprised if we get a similar kind of move today, to the upside. I'm looking for the market to open and test higher, and likely find some resistance. I still think that the areas to watch are 3775 and 3910.
CME_MINI:ES1!Long
by TakeProfitTrader
Morning Ideas July 14, 2022Good morning traders, We continue to come down to the bottom of the volume here, and we are now below 3775. I'm looking for a flush lower before we see any kind of sustained buying, but there is always the risk of selling the lows and getting stuck. I will look to sell a rally, and then cover on a flushout lower and look to get long again. It's a bit risky to bottom fish in a market that is really having trouble holding onto higher prices.
CME_MINI:ES1!Short
by TakeProfitTrader
Morning Ideas July 8, 2022Good morning Traders, a bit of a sleepy trade overnight, after testing 3900 area yesterday. I would expect us to continue to test those higher prices off of the open, and if we can squeeze through 3912ish, I think we make a run at 3975. However, should we get some selling pressure off the open, I think it's more likely we bang into the volume below us and start to ping pong between the levels. I think either way we get a test of 3910 area this morning and the market will tip it's hand.
CME_MINI:ES1!Long
by TakeProfitTrader
1