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ES signals are quite bullish so far. So, trading plan for today is to LONG only.
I've been a MOMENTUM trader over a decade & I only trade setups ranging from scalping, day or swing trading for living. My posts on here are ONLY FOR FUN & therefore not recommending anything to anyone. GLTA.
My understanding so far. Monthly job report was bad, below all Wall Street estimates so market moved up on the news. OPEC has agreed to production cuts so oil will not drop as far thus reducing consumer spending so the market moved up. Finally Larry Kudlow said "China" in front of a camera so the market moved up. Defiantly a big bull day ahead.
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Yesterday was pure chance. Just because the market bottomed to the minute at the London Frankfurt close doesn't necessarily mean the machines were running the show. Of course that news release by the Wall Street Journal that the Fed was backing off of rate increases that sparked a second leg up just came out when it came out, no one could have managed that right!
Sarcasm aside, the Fed admitting that they have gone too far at this point shows how thin skinned they are. But the big deal is the 50 Billion dollars a month they are throwing in the incinerator and nothing has been said about that part of the program. Experts say it effectively doubles the rate increases so the reality is that this has been one of the most aggressive overall tightening programs since WW II.
There are major resistances ~2710 on ES charts, which are not easy to break...
I've been a MOMENTUM trader over a decade & I only trade setups ranging from scalping, day or swing trading for living. My posts on here are ONLY FOR FUN & therefore not recommending anything to anyone. GLTA.
I've been a MOMENTUM trader over a decade & I only trade setups ranging from scalping, day or swing trading for living. My posts on here are ONLY FOR FUN & therefore not recommending anything to anyone. GLTA.
I've been a MOMENTUM trader over a decade & I only trade setups ranging from scalping, day or swing trading for living. My posts on here are ONLY FOR FUN & therefore not recommending anything to anyone. GLTA.
9:15 AM 12/7/2018
First sell was unattended (unintentional) so I sold a second at 2705.75 and then entered the second at 2698.50 for $200 and back to intended short 1.
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Last edited by daytradingES on Fri Dec 07, 2018 12:32 pm, edited 1 time in total.
Educational only and not trading advice (EO&NTA) Good trading to all
It's good that the swing sell triggered, if it fails it will only make things better for bulls, also if this buy intraday failed, bulls are in trouble.
Last edited by BullBear52x on Fri Dec 07, 2018 11:22 am, edited 1 time in total.
My comments are for entertainment/educational purpose only. NOT a trade advice.