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Takeprofittrader

Morning Ideas April 22, 2022Morning Traders, The move down yesterday is your normal chop in these wide balance areas. I have said the same thing everyday this week and it comes down to this: I don't think there is an edge in the market when we are stuck in the middle of balance. As soon as you get fascinated with a direction, the market turns around and goes the other way. This is CHOP and makes trading very difficult. Better to wait for the market to get to the edges of these areas (pink boxes) and trade from there. Atleast at that point you can manage your risk, as you are closer to where you are wrong.
CME_MINI:ES1!
by TakeProfitTrader
Morning Ideas April 12, 2022Good morning traders, CPI rose 8.1 percent this morning, pushing the market up...somehow. This is why we don't trade around news. Inflation you would expect to hurt the economy, as it will likely mean faster tapering of asset purchases and quicker rate hikes to keep inflation in check. Both of those things are deflationary, and not good for the markets. I expect the market to come back to this area of the news (4416) and get tangled up at the lower end of the distribution, before trying to go higher.
CME_MINI:ES1!Short
by TakeProfitTrader
Morning Ideas April 6, 2022Good morning traders, FED's Brainard had some tough comments yesterday, and the market did not like it. We have seen nothing but selling since. We have plenty of room to run lower, but the profiles still look weak on the high side. With that said, that's more technical analysis, and fundamentals seem to be at play here. Im looking for some weakness in the morning, and that weakness to be bought, don't think it's a crazy selloff day, even though it looks that way right now.
CME_MINI:ES1!
by TakeProfitTrader