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Takeprofittrader

Morning Ideas July 27, 2022Good morning traders... FOMC minutes are today at 2pm eastern, so again, I do not expect a lot of directional movement. We had more directional movement than I expected yesterday, but we ended up taking it all back at the close, due to earnings reports from some big companies. It pretty much leaves us in the exact same place we were at the open yesterday, and I would expect to see more of what we saw overnight, than what we saw yesterday. If we start to trend off the open, I would be careful chasing it into the FOMC minutes.
CME_MINI:ES1!
by TakeProfitTrader
Morning Ideas July 18, 2022Good morning traders... Running back into 3910 area, as expected once we were unable to hold below 3775. 3910 is a key area today, in my opinion. I think if we can take 3910 (THE KEY IS TO HOLD ABOVE IT), I think it sets us up for a rally into 4000 area. I would remind you that lately this market has had several chances to regain these higher prices, and it has failed almost every time. What does this mean for you? I wouldn't chase the market up here. Wait to see if it can hold above 3910 before you decide that it's time to get long. Make your own plan, just giving you mine :)
CME_MINI:ES1!Long
by TakeProfitTrader
1
Morning Ideas July 15, 2022Good morning traders, A bit of a push on news right after 830 this morning, but nothing has changed. Still a very murky picture. Volume all over the place, but concentrated heavily on the bottom. I expected to see a bigger "flush" yesterday, but we just didn't quite get it. I wouldn't be surprised if we get a similar kind of move today, to the upside. I'm looking for the market to open and test higher, and likely find some resistance. I still think that the areas to watch are 3775 and 3910.
CME_MINI:ES1!Long
by TakeProfitTrader
Morning Ideas July 14, 2022Good morning traders, We continue to come down to the bottom of the volume here, and we are now below 3775. I'm looking for a flush lower before we see any kind of sustained buying, but there is always the risk of selling the lows and getting stuck. I will look to sell a rally, and then cover on a flushout lower and look to get long again. It's a bit risky to bottom fish in a market that is really having trouble holding onto higher prices.
CME_MINI:ES1!Short
by TakeProfitTrader
Morning Ideas July 8, 2022Good morning Traders, a bit of a sleepy trade overnight, after testing 3900 area yesterday. I would expect us to continue to test those higher prices off of the open, and if we can squeeze through 3912ish, I think we make a run at 3975. However, should we get some selling pressure off the open, I think it's more likely we bang into the volume below us and start to ping pong between the levels. I think either way we get a test of 3910 area this morning and the market will tip it's hand.
CME_MINI:ES1!Long
by TakeProfitTrader
1
Morning Ideas June 28, 2022Good morning traders, I am happy to be back after almost a week away from the screens. The market has come back to the monthly VWAP and is stuck at 3920 area that was highly traded on the way down. This likely means it will be choppy in here on the open, kind of like we saw in the overnight "whippy" market. I think the market is trying to make its way back to 4100, but lower is definitely in the cards. I'm going with a neutral day today as I think it will be much like the overnight session. P.S. Sorry for my son coughing the entire video in the background.
CME_MINI:ES1!
by TakeProfitTrader
Morning Ideas June 21, 2022Good morning traders, Yesterday turned out as expected, it was a back and forth type day, the closed right on the VWAP. This indicates the market in balance, and the bigger time frame players absent. Overnight, the market has bounced a bit, after testing both sides of yesterdays balance. In the near term, it looks like the value is migrating higher. However, big picture, the sellers are still in control here. I'm playing for a continuation higher to be eventually sold, but I think we will go higher first today, maybe even the entire day.
CME_MINI:ES1!Long
by TakeProfitTrader
Morning Ideas June 13, 2022Good morning traders... Looks like a bit of panic selling, taking us down to levels we haven't seen in over a year. Lots of news on Wednesday this week, where we will most definitely see a raise in rates, but Powell will need to be careful with what he says. Saying the wrong thing (as perceived by the market) will put even more pressure on a market in a downward spiral. Not trying to paint a negative picture here, but I will be selling bounces early in the week. I think we will settle down in front of the news on Wednesday, but I think today will be lively.
CME_MINI:ES1!Short
by TakeProfitTrader
2