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Takeprofittrader

Morning Ideas January 19, 2022Good morning traders, First of all, my apologies for not putting ideas out the last few days. Back at the screens now and good to go. We are left with more volatility, and I don't expect that to change until after Friday, if it even subsides then. We were seeing talks of tapering and rate hikes maybe in March, now it seems that the rate hikes are more certain. With a lot of shaky earnings results, fear of tech stocks (NQ) falling, coupled with inflation worries, you've got yourself a perfect storm for high volatility. If you're trading in this environment, better to be light and wide!
CME_MINI:ES1!
by TakeProfitTrader
Morning Ideas January 10, 2022Morning Traders, Mr. Market looks like it's having trouble holding onto higher prices since the new year began. We haven't seen those beginning of the year flows that we are so used to seeing. Part of the reason is the drag of the tech stocks (NQ). I explained in the video today how those stocks led the way up, and it looks like they're keeping the market down here. We continue to be relatively weaker in the NQ than the other indices. Need to watch the open today to pick a direction, I think the edge has to be with the shorts at this point. I think the path of least resistance is lower, but please remember that this market has an uncanny way of finding buyers when things are looking grim. Let me know if you have any questions!
CME_MINI:ES1!Short
by TakeProfitTrader
Morning Ideas January 6, 2022Good morning traders, WILD day yesterday after the FED announcement leaves the market in a precarious place. NQ is much weaker than the ES again, and there is momentum lower. However, let's see if the market can actually hold onto some weakness, for once, or we rebound in the face of adversity. I would keep an eye on news events today as I wouldn't be surprised if someone in the FED or the government tries to paint a rosy picture of something to try and "save" the market from the fear that something needs to be done to stop the rampant inflation.
CME_MINI:NQ1!Short
by TakeProfitTrader
Morning Ideas January 3, 2022Good morning Traders! Welcome to a new year and a new trading week. We did not get the rally (window dressing) into the close that I expected to see at the end of the year, but we bounced right back up near the highs last night, nonetheless. We are left with a gap below, and a weak high (market looks like it's unfinished to the high side). I would expect us to chop around in here and continue to try and push towards the highs. I'm going to give a neutral reading today because we are in this balance at the highs, however, i still expect it to have an upward skew.
CME_MINI:ES1!
by TakeProfitTrader
Morning Ideas December 30, 2021Good morning traders, Same ol' stuff, different day. Still consolidating at the highs, likely to see some kind of push in the next two trading days to "clean up" this weak high. You need to distance yourself as a trader from the result of the next trade, and think of the market in probabilities. The data shows that the probability of the market continuing higher is much higher than continuing lower. Whatever happens in this particular trade, is irrelevant. Each trade is just 1 trade in a large sample.
CME_MINI:ES1!Long
by TakeProfitTrader