SPX: 3 days of the condorHi Guys, good morning!
At the beginning of last week the index pulled back into the 1st Powell testimony before ranging during the three days of the condor.
Last Friday it unfolded a bear trap before confirming support twice on monday at 3082 and resuming its run higher.
To note the effect of Navarro's comments last night and price reaction into 3082 level before his comments were rectified.
Keep an eye on the Economic Calendar and in particular on Wednesday when IMF will release the June 2020 World Economic Outlook Update at 9:00 ET (15:00).
Thank you for your support and for sharing your ideas.
Disclaimer:
Please note that I am not a professional trader and these are my personal ideas only. The information contained in this presentation is solely for educational purposes and does not constitute investment advice. The risk of trading in securities markets can be substantial. You should carefully consider if engaging in such activity is suitable to your own financial situation. Cozzamara is not responsible for any liabilities arising from the result of your market involvement or individual trade activities.
IMHO: The point of trading is to make money. To make money you must have money. Depending on the money at your disposal, you can decide what to do and how to do it. By having stops you decide how much you are willing to lose. By having targets you decide how much you want to earn. Be disciplined with your protocol and with your strategies for trading. Sometime you win, sometime you lose. Don't be greedy. Be realistic. Be wary but not afraid. Be curious. Use your brain. As long as your working process make sense and your spirit is calm, everything will be fine. Be patient and be prepared for any circumtances.
