Emini
Bulls and Bears zone for 10-22-2020This week market rallies during the morning and sells off in the afternoon.
Last couple of trading sessions, sellers seem to get aggressive around Fibonacci 50% level from Monday.
Level to watch 3422 --- 3424
Reports to watch:
US:Existing Home Sales
10:00 AM ET
US:Leading Indicators
10:00 AM ET
US:EIA Natural Gas Report
10:30 AM ET
Bulls and Bears zone for 10-21-2020ETH session has tested and sold off at Fibonacci 50% level from yesterday's RTH session.
If that level can not be breached, than sellers might get aggressive.
Level to watch 3437 --- 3439
Reports to be aware:
US:EIA Petroleum Status Report
10:30 AM ET
US: Beige Book
2:00 PM ET
Emini / ES / SPY (4H) : Operating range for next week!Price is currently stuck in two opposing trapped traders zones on 4H chart. It'll be interesting to see how these zones play out next week.
This week, we already had a good short entry when price reached the zone where longs were trapped!ht
We might also see more fake-outs on either side which will further trap more traders!
Emini / ES / SPY (4H) Backtest : 57% win rate across 21 tradesWinners = 12
Losers = 5
Breakevens = 4
Total Trades = 21
% Non Losers = 76%
% Winners = 57%
% Breakevens = 19%
% Losers = 24%
Win/Loss = 240%
Net R = 14.2
Avg R/Winner = 1.18
Avg R/trade = 0.68
Bad trades prevented due to presence of liquidity near SL= 14
Icons on the chart
Thumbs up : Trade was a win
Thumbs down : Trade was a loss
Circle with a cross : Trade was breakeven
Cross : Did not take the trade due to presence of liquidity (equal highs) behind the stop loss
Variables
Avg winner = 1.6R
Strategy : wait for market structure break, then trade the retest of that zone. Zone is drawn using the first candle which crossed the pivot high/low to trap the traders.
Bulls and Bears zone for 10-16-2020It was apparent from yesterday's ETH and RTH sessions that volatility is increasing day by day.
For bulls to continue on yesterday's run will need to get over ETH session High with conviction; otherwise, Sellers might take control.
Level to watch 3484 --- 3482
Reports to be aware:
US:Business Inventories
10:00 AM ET
US:Consumer Sentiment
10:00 AM ET
Bulls and Bears zone for 10-15-2020Overnight session market has sold off substantially, but it has been trading sideways this morning.
We might see value buyers show up and try to close the gap.
Any test of ETH low should provide direction for the day.
Level to watch 3433 --- 3435
Reports to be aware:
US:EIA Natural Gas Report
10:30 AM ET
US:EIA Petroleum Status Report
11:00 AM ET