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Morning Ideas November 8, 2019Very orderly here. I have said it before and I'll say it again, until this market pulls back, I would be looking for opportunities to get long. Don't try and pick the top... If you really want to take a short, make sure you have something above you to lean on. We have some nice structure below us that will tell us on the open whether we are going to fall back into value, or move higher. I would imagine we continue higher until I see the buying shut off.
CME_MINI:ESZ2019Long
by TakeProfitTrader
2
Morning Ideas October 31, 2019Looks like a breakout yesterday from FOMC and we are back down at the top of value. If the market stays status quo, which is what I expect, I would expect us to tag the bottom of value from this area. Bottom of value is 3031 area. It's only 10 points away so not the most exciting trade in the world, but remember, we are in balance for the last 4 days. Tomorrow will be interesting as it is Non Farm Employment change. I expect to see some fireworks. I will be travelign tomorrow so there will be no morning ideas.
CME_MINI:ES1!Short
by TakeProfitTrader
Morning Ideas October 22, 2019We broke out of this area, albeit on low volume, but we are accepting prices up here for the time being. I would expect any kind of pullback to come back to the 3000 area and if this breakout is for real, I think the buyers will show back up at that point. If they don't, I would look for 85 again, and possibly lower as this would be a failed breakout. The low volume is concerning, as it shows little participation on the breakout. I still am not sold on the longs, and definitely not from 3010.
CME_MINI:ES1!
by TakeProfitTrader
Morning ideas October 17, 2019We are now hanging out at the top of balance. Gun to the head, I'd still want to be short. If I change my mind on the short, it's becuase the buyers will move the market abvoe this 3000 area and we will start to trade a lot of volume up there. Until then, if you are long from here you are buying the breakout from value high and that's a losing proposition, long term, in this instrument. Remember, whether this trade works or not is irrelevant, whats important is the body of trades.
CME_MINI:ES1!Short
by TakeProfitTrader
Morning Ideas October 4, 2019The market did a lot of what was expected yesterday, but we sunk a little further down than expected. This was news based, and can never be predicted. However, the market quickly shrugged off the news and returned right back to the scene of the crime and ended up heading towards the resistance area at 2917ish. Today I will watch the open intently to see if the sellers push back at this area. Longer term, I believe the market is setting up to head back towards the previous value, which is above us.
CME_MINI:ES1!
by TakeProfitTrader