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Morning Ideas November 14, 2019Market still clearly accepting prices higher. Profile becoming very box-y meaning that the market is indifferent at any price between the highs and lows of value. The line in the sand below is still 70, in my opinion, and you'd wouldn't be wrong staying long until that is broken. Remember, the market is accepting higher and when that happens, the more likely scenario is that we will continue in that direction. If you're going to be short from up here, you have a nice Reward for your risk as long as you keep the stops tighter. You don't want to be holding on to positions against the grain that are moving against you.
CME_MINI:ESZ2019
by TakeProfitTrader
Morning Ideas November 13, 2019Stuck in the middle of this upper balance. It's a good thing and a bad thing for the longs. It's good because we aren't rejecting this upper balance, we are still very much in the middle of the balance. The bad news here is that we can still pull back to the lower end of the balance so if you're long, you may have to sit through some heat. VPOC from yesterday is above us and this market is likely to be pretty choppy on the open because we are in an area of acceptance. Refrain from chasing the market in such environments.
CME_MINI:ESZ2019Long
by TakeProfitTrader