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Takeprofittrader

Morning Ideas June 2, 2022Good morning traders, The market filled in the area in the profile that we discussed yesterday the 4100-4090 area. Now the overall profile (big picture) is looking more and more bell shaped. In a normal environment, I would bet that we'd be headed for 4250, to the top of the value. However, with the lack of liquidity and general uneasiness in the market, the market could trend at any time. For today, I'm looking for the market to catch a bid, only to be sold tomorrow/next week.
CME_MINI:ES1!Long
by TakeProfitTrader
2
Morning Ideas May 31, 2022Good morning traders, No morning ideas yesterday because of the holiday, so today we address the trend up day from last friday. We are in a low liquidity market right now, and the order book in the ES is historically "thin." What does that mean for the movement? It simply means that the market can push further than usual because we don't have the liquidity sitting there to make the market trade through the sludge. Not trying to defend my position that Friday was going to be a sideways day, just pointing out that it's tougher than ever to gauge direction, so be sure to keep that in mind with your own trading. I see a lot of traders beating themselves (and others) up for not making money everyday, but keep in mind that even the best funds in the world struggle with this stuff. Trading is hard, watch your risk.
CME_MINI:ES1!Long
by TakeProfitTrader
1
Morning Ideas May 27, 2022Good morning traders, We are trading near 4100 after the market traded higher yesterday, and liked the higher prices. Big boulder today is that it's Memorial day weekend, and I would imagine that the fat cats on Wall St. will likely head out for the holiday weekend early. The expectation for days like these is that the volume dies out in the middle of the day and the market becomes very slow and non-directional. I personally think (please make your own ideas) that the 4100 area will act as resistance above, and the market will "fall back in" to the middle distribution by the afternoon.
CME_MINI:ES1!
by TakeProfitTrader
1
Morning Ideas May 26, 2022Good morning traders, The FED yesterday says they are staying committed to raising rates, but will remain flexible, whatever that means. The only thing that really matters is how the market responds, and the market seemed to like their stance. The market rallied after the minutes were released, but pulled back slightly at the close. We are higher now, and I think we are headed for 4010 VPOC area from before. From there, I think we get choppy and trade sidways into the holiday weekend.
CME_MINI:ES1!
by TakeProfitTrader
1
Morning Ideas May 25, 2022Good morning traders, Apologies for yesterday's morning ideas coming out without audio. What I was expecting yesterday was more of a non-trendy day. The difficulty with this market is that it's difficult to look for a back and forth market setup when we whip around intraday. For example, yesterday at 1130 it looked like it was a trend down day, just to turn around and trend higher the rest of the day. What we are left with today is a market continuing to build out volume in this lower distribution that I discuss in the video. I think you have to continue to give the edge to the sellers here, as the market continues to have trouble holding onto higher prices.
CME_MINI:ES1!Short
by TakeProfitTrader
8
Morning Ideas May 17, 2022Good morning Traders, Market came to one of my over/under lines, around 4080 overnight. We have quite a bit of strength in the overnight session, and I think that will ultimately take us higher off the open. I do expect to see a bit of a fight from the sellers, but I think we go higher today as we try to push back towards 4300. I do not think we are out of the woods here, by any means. In fact, I think on a longer term horizon, the direction is down.
CME_MINI:ES1!Long
by TakeProfitTrader