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Takeprofittrader

Morning Ideas May 27, 2022Good morning traders, We are trading near 4100 after the market traded higher yesterday, and liked the higher prices. Big boulder today is that it's Memorial day weekend, and I would imagine that the fat cats on Wall St. will likely head out for the holiday weekend early. The expectation for days like these is that the volume dies out in the middle of the day and the market becomes very slow and non-directional. I personally think (please make your own ideas) that the 4100 area will act as resistance above, and the market will "fall back in" to the middle distribution by the afternoon.
CME_MINI:ES1!
by TakeProfitTrader
1
Morning Ideas May 26, 2022Good morning traders, The FED yesterday says they are staying committed to raising rates, but will remain flexible, whatever that means. The only thing that really matters is how the market responds, and the market seemed to like their stance. The market rallied after the minutes were released, but pulled back slightly at the close. We are higher now, and I think we are headed for 4010 VPOC area from before. From there, I think we get choppy and trade sidways into the holiday weekend.
CME_MINI:ES1!
by TakeProfitTrader
1
Morning Ideas May 25, 2022Good morning traders, Apologies for yesterday's morning ideas coming out without audio. What I was expecting yesterday was more of a non-trendy day. The difficulty with this market is that it's difficult to look for a back and forth market setup when we whip around intraday. For example, yesterday at 1130 it looked like it was a trend down day, just to turn around and trend higher the rest of the day. What we are left with today is a market continuing to build out volume in this lower distribution that I discuss in the video. I think you have to continue to give the edge to the sellers here, as the market continues to have trouble holding onto higher prices.
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CME_MINI:ES1!Short
by TakeProfitTrader
10
Morning Ideas May 17, 2022Good morning Traders, Market came to one of my over/under lines, around 4080 overnight. We have quite a bit of strength in the overnight session, and I think that will ultimately take us higher off the open. I do expect to see a bit of a fight from the sellers, but I think we go higher today as we try to push back towards 4300. I do not think we are out of the woods here, by any means. In fact, I think on a longer term horizon, the direction is down.
CME_MINI:ES1!Long
by TakeProfitTrader
Morning Ideas April 22, 2022Morning Traders, The move down yesterday is your normal chop in these wide balance areas. I have said the same thing everyday this week and it comes down to this: I don't think there is an edge in the market when we are stuck in the middle of balance. As soon as you get fascinated with a direction, the market turns around and goes the other way. This is CHOP and makes trading very difficult. Better to wait for the market to get to the edges of these areas (pink boxes) and trade from there. Atleast at that point you can manage your risk, as you are closer to where you are wrong.
CME_MINI:ES1!
by TakeProfitTrader