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Morning Ideas December 17, 2021Morning Traders, Big OPEX today at the open should provide another wild trade in the market. As I laid out in the video, it's been a tough market to wrap my head around. Back and forth whips based on FOMC and leveraged speculation has left me scratching my head more times than not. I will be watching closely after the open to see if we can get a clear direction on the day, but from experience OPEX mornings are very tricky with a lot of head fakes. Trade your plan and stay calm.
CME_MINI:ES1!Long
by TakeProfitTrader
1
Morning Ideas December 16, 2021Good Morning Traders! FED announced yesterday that it would speed up it's taper of the asset purchases and also likely hike interest rates in 2022. The market took this as a sign of strength, and we rallied 100 points. After such a move, I don't know that there will be much more follow through just yet. I am leaning more towards sideways today, with an upwards skew. I don't think it's wrong to be long here into the end of the year, as we will likely continue to push higher into 2022.
CME_MINI:ES1!Long
by TakeProfitTrader
1
Morning Ideas December 6, 2021Good morning traders and welcome to a new week. Challenging trade as we whipped about 110 points on Friday. As we are still in negative gamma territory (options) I would expect it be the same kind of noise in the market. These markets are challenging in this high volatility environment. The biggest key here in my personal trading (I learned the hard way), is to make sure when the volatility shows up, I decrease my size and widen my stops. When I do this, I"m rather successful. WHen I don't, I die the death of 1000 cuts. You simply cannot trade with small stops in a whippy market and survive the normal ebbs and flows. Im leaning slight long here, but I'm cautious because I feel like this is close to the middle. Good luck this week, it's likely to be another roller coaster.
CME_MINI:ES1!Long
by TakeProfitTrader
Morning Ideas December 3, 2021Good Morning Traders, NFP report was not good this morning, but the market took it as a positive (so far). You can watch the video for an explanation of why, in my opinion. What we are left with is a market that seems to have caught a bid. I would expect us to continue to try to squeeze higher. While I think the squeeze higher is the likely scenario, if we do turn back lower, I think that is a bad omen for this market. We have just rejected lower prices, we certainly don't want to see the market return back to those levels. I'm going to be looking for longs, and I expect the volatility to be lower today than it has been in recent days. Good luck guys.
CME_MINI:ES1!Long
by TakeProfitTrader
1
Morning Ideas November 29, 2021Good morning traders, I am back and refreshed after about a week away from the screens. Usually thanksgiving week is pretty slow, with an upward skew, but boy that wasn't the case last week. I don't expect the fear of the new Covid variant to keep the markets down for long, I just think the market had to price-in something that wasn't previously priced in. This is most likely why we got the selloff last week. It is pretty thick above us, but I would expect the market to eat through a lot of that volume as we try to get back to the "scene of the news crime" which is around 4700. Full disclosure, I did not create that phrase, that was coined by FuturesTrader71.
CME_MINI:ES1!Long
by TakeProfitTrader
2
Morning Ideas November 10, 2021Good morning Traders, CPI numbers came in higher than expected and the algos pushed the market down immediately. For me this is a wait and see kind of market because the big players will likely be involved at the opening bell. It's tough to trade against these traders because they can push the market far and fast, leaving the small fish wondering what is going on. This may not turn into anything, but I believe the open will be noisy. Good luck
CME_MINI:ES1!Long
by TakeProfitTrader
1