JB7oh2

JB7oh2

We had a full 100% retracement from this weeks low to high and ended at the .786% FOMC meeting seems a little bullish to me they are pumping the market for the midterms so the pension plans don’t look so bad, my plan was down 24% now it’s only down 13% hooray lol. Back to the market I believe we will be range bound in the 415 to 435 until we get the Interest rates...

JB7oh2

Well it finally hit the 200 day moving average now what? Greed is in play right now like I’ve said before when the cat is gone the mice will play. Tomorrow we have FOMC minutes coming out I’m sure it’s not going to be that bad since raising rates are not in play it’s just all talk. Possible sideways day tomorrow to create some support or the usual buy calls at the...

JB7oh2

The chart I posted yesterday was money, you have to go with the trend and believe in the fibs. Bad news is good news that’s the trend. Now I still believe that once we break the 200 day ma we will start to have a pullback we are over extended. On a another note I just finished the invisible hand by Steven Drobny it was recommended by Valerus_Forex and I highly...

JB7oh2

The uptrend is still in play, going into Monday I’m expecting some profit taking so expect a pullback to 425 even 424 after that looking for 428. I don’t have much to say, everyone is feeling bullish thinking they have found bottom I don’t know if it’s true only time will tell. That’s why I always say play what’s in front of you the market can turn on a dime be...

JB7oh2

We have a 5 dollar bull gap to keep an eye on. I think this could be a bear trap set up so be careful either way. I’m still thinking we can hit the 200 day ma this month. Everyone is talking about we hit bottom I don’t think so there’s to much going on still. It’s the old saying “when that cat is gone the mice will play” as soon as the feds get back the market...

JB7oh2

So with the somewhat good news we used pre market to break resistance that was nice of the algorithms. Today I used my 30 minute range to trade worked out great on the 3 minute chart. PPI tomorrow let’s see how the market reacts. I hope you all cashed in today try not to overtrade. Expecting to hit 421.06 then pullback to pick up steam with the bull algo. I still...

JB7oh2

Finally we get to CPI day. We broke out of the uptrend channel that’s not good but we are right on the .618 of the fib pullback. I really thought we were going to run up today but instead it was sideways. Had to trade 600 bucks just to make 66 today crazy. Be safe out there. Tomorrow whichever way it pops I’ll be fading. Expecting a fake out in the beginning then...

JB7oh2

For tomorrow Looking for 417 calls and 413 puts expecting a range of 411 to 418 play the fibs for a good entry. Mange your risk it’s about the only thing we can control in this market, as always trade what’s in front of you

JB7oh2

Everyone has been pumping the 2008 to 2022 chart all weekend so boring, when things go down they all look the same down! The crash isn’t going to mirror past crashes. That being said I’m looking at the 200ma on the daily chart it is more realistic of happening the more we test 417. Like I said before August is a good time to run it up since the FEDS don’t meet....

JB7oh2

Well looks like every chart you can think of up, down and side’s ways has been made already. I still believe we stay in the highlighted box in till CPI comes out so you know the saying trade what’s in front of you. Now let’s go over options and the Greeks how do the effect your contract and why are you losing money even if it’s going in your direction. DELTA= is...

JB7oh2 Updated 

Bad news is good news because it’s not as bad so that’s good, layoff’s means the company is trimming the fat so more money saved now they are a better company for it right? Today we stayed in the 30 minute range all day we probably went red to green 98 times. Yesterday’s chart means nothing today. We trade in probabilities nothing is certain. Let me know what you...

JB7oh2

We have another possible head and shoulder move here if we can’t break 417.34. Staying in this area reminds of May 27th through June 9th where we stayed in that 407 to 417 range. If we stay true to that 9 bar move from the past, the 9th bar will fall on August 10th CPI numbers come out. In the meantime play the ups and downs. Don’t over trade in this chop bad news...

JB7oh2

It’s looking like the bulls are running out of steam. To much news with Taiwan and China. Taiwan makes a ton of chips and now china has said they are shutting down 2 apple plants which is not good so let the games begin. I’m seeing a little bit of a downtrend making higher lows and lower lows. Let the play come to you do not force the trade. Don’t let a scalp...

JB7oh2

We need to break 414 to 417 there’s a ton of sell orders to be filled “supply”. In the meantime play the first 30 minutes and fibs, today was a great day for both. I drew this uptrend channel over the weekend and it responded nicely today if we break the dashed line look for the bottom line to hold. I hope this helps sorry about the late post, got home and...

08:34

JB7oh2

Going over the fibs. Thanks for all the likes and new followers I will try my best to get better at these videos. Hope this helps at least 1 person

JB7oh2

So today was a nice day for bulls. I messed up and let a 55% winner turn into a 30% loser. Why because mentally I wasn’t there, I had a bad night didn’t sleep, stomach all messed up then the alarm goes off and I’m still hurting had to go to work didn’t want to be there. Head in a fog all day. I open up the market 30 minutes in and see the high so I buy puts run it...

JB7oh2 Updated 

What a day! I was so wrong about the reaction of a negative GDP. If you told a random person on the street that by definition we are in a recession, what should the market be doing? I believe they would respond with crashing of course it’s going down. Well my friends they would be wrong we are rallying. Now with a positive earnings report from apple and friends...

JB7oh2 Updated 

“Today was a good day I didn’t have to use the AK” The FOMC play worked perfectly I sold a little too early but green is green. Tomorrow could turn into a trend day if the GDP is positive green green green if it’s negative red red red. I’m betting red and I have 402 puts at 3.05. Tomorrow, please don’t go chasing because the GDP comes in a hour before the open....