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Takeprofittrader

Morning Ideas March 16, 2022Good morning traders... Market has just opened and we have quite a bit for strength since yesterday, RIGHT BACK to 4300 level. Remember this level? You should because if you look at the big picture chart, 4320 is where we have a massive amount of volume. It's where the market kept failing from last week. With that said, all of this takes a back seat to the FOMC announcement todAy at 2pm. I think this is a dangerous announcement for Powell to navigate. The last few announcements have been taken as a positive by the market, but I don't see how further tightening and rate hikes will be positive for this market. I want to be clear, I do NOT trade news, and I don't think you should either. The reason is that even if you knew what Powell was going to say, you still don't know how the market will react to it.
CME_MINI:ES1!
by TakeProfitTrader
Morning Ideas March 14, 2022Good Morning Traders, I've added some new stuff to the chart, if you guys want the new version, just click on the microphone at the bottom right of the video and use the "make it mine" feature. It's nothing groundbreaking, just a top down approach with some VWAP's now that you can use monthly, weekly, and daily VWAPs in TradingView. As for the market, we are stuck in the same cycle, market sitting around and waiting for news. The market continues to struggle to hold on to higher prices. However, I'd take all price action with a grain of salt in front of this massive FED announcement on Wednesday this week. I think the closer we get to that announcement, the slower the market gets. For that reason, I'd take a more neutral stance here
CME_MINI:ES1!
by TakeProfitTrader
Morning Ideas March 3, 2022Good morning traders... After powell spoke yesterday, the markets went higher. Not sure what to make of the news about the interest rate hike/inflation coupled with all of the Russia/Ukraine stuff. However, the market is holding on to technical levels pretty well, which is not always the case in high volatile environments. I would expect to see 4500 next, without any news headlines. This DOES NOT mean that it has to be fast, or today, but I think that's the next destination.
CME_MINI:ES1!Long
by TakeProfitTrader
1
Morning Ideas February 22, 2022Morning Traders! I probably should have done morning ideas yesterday, but I don't usually do them on holidays due to the lack of movement. However, this market is volatile even on holidays! We saw a big gap down overnight on escalating tensions between Ukraine and Russia. I would imagine the combo between that situation, and the FED rate hike, we will continue to see an unstable kind of market. Near the end of the video this morning, I talk about the mistake of getting too much size on in a market like this. It's absolute poison to your longevity as a trader. Some of our prop traders were sized WAY TOO BIG last night, and were fortunate they weren't wiped out completely. Remember, your risk of ruin is 100% if you put too much risk on any one trade. Even with a 99% probability (which doesn't exist) the 1% trade will wipe you out.
CME_MINI:ES1!Short
by TakeProfitTrader
Morning Ideas February 17, 2022Good morning traders, Some news on twitter saying that there were some shots fired in a village in Ukraine spooked the market briefly overnight, it looks like. This market feels like it's one news move pushes it one way, just to get pulled in the other direction by the next news move. This leaves us with a market that is swinging wide from side to side, but going nowhere. This makes it difficult to judge direction, so I will sit on my hands here and wait for some clues.
CME_MINI:ES1!
by TakeProfitTrader
Morning Ideas February 16, 2022Good Morning Traders, Today is a big day with the FOMC minutes at 2pm. It's "bigger than usual" meeting minutes because of the inflation worries. If you're used to reading and not watching the video, I think the video today is important to watch. It talks about technical, and a little bit of fundamental context. Be careful out there today after 2pm, it's not worth it to take a massive loss on some speculative play. Remember, even if you know EXACTLY what the FED minutes say, you have no idea how the market will "trade" it. Some of it is already priced in, but how much? That's a billion dollar question, and one I can't answer.
CME_MINI:ES1!
by TakeProfitTrader
Morning Ideas February 4, 2022Good morning traders, Buckle up, it's going to be a wild one today. We have NFP jobs report coming out in 15 minutes and we are in a HIGH volatility environment. I would expect the market to be very noisy and travel very far today. Please do not take big risks around the announcement at 830. It's not worth trying to interpret how the market will price in the news. One good thing is that amazon posted good earning and is up over 10% overnight. Even with that, the market seems to be dragging. I'd give the edge to the downside here but WOULD NOT be surprised in the least to see a rip-your-face-off rally either.
CME_MINI:ES1!Short
by TakeProfitTrader
1
Morning Ideas February 3, 2022Morning Traders, Big news overnight was the Facebook (Meta) news. FB is down 25 percent in the overnight session, which will likely have some effect on the overall index because of its size. Otherwise, the market has run into the volume above us and is pulling back now. This doesn't mean that a reversal has happened and we are going to plunge, it's just a very common occurrence when the market runs back into a heavily traded area. I'd look for the market to try and take back 4600 but you need to keep an eye on FB volatility today.
CME_MINI:ES1!
by TakeProfitTrader
1