Recap on profit for today. I posted these times: 0800 0900 0930 1115 I mentioned also that 0700 was a time, but didn't post it, as it was after the fact. Here is the breakdown: 0700 2 tick loss. 0800 2 tick loss. 0900 7 tick (equivalent) gain on the ZN's, and 2 tick gain on the additional ZB's. 0930 Was the exit for the 0900 trade 1115 I didn't trade, but you were looking at at least 4 ticks. All of the above is based on a single ZB contract. -2 X 1 ZB -2 X 1 ZB +7 X 2 (ZB equivalent to 4 ZN) +2 X 4 ZB _____ 18 tick net profit. All of the above on minimal work, little to no stress.
Excellent 0800 trade. The dip to 107 29, a very significant number, and price action afterwards told you that the move may stop there. You could have gotten in as late as 108 00, and out for the magic 4 ticks.
In the event the 0900 report does something, here are some numbers to watch: 108 12 108 07 107 30 107 27 107 25 Personally, I think we will have a range bound day, but you never know. By the way, I see I didn't post it, but technically the 0900 time is also a turning point time. And technically, it would be a turning point time in anyone's book.
Time exit target is 0932 followed by 1000. Price target is 107 26 or 107 27 to be safe. Equivalent exit in ZN.
0917 Bought 2 ZB at 107 29 and a little later 2 ZB at 107 30 Bought 2 ZN 105 270. Bought 2 ZN 105 280. I'm not going to post the times for the ZN's. You can figure it out. Profit on 2 ZN's, break even on 2 ZN's.
Personally, I think we may go lower to test the target price I mentioned, but when I'm handed almost 500 USD, I try and take it. In this case, the ideal exit was 107 29 for all contracts, then I would have made the full 500, or pretty close. One of the things I keep bringing up is I like to go for the net number of ticks I know I'm good for. Looking back over years of data, I've always been better off taking 4 - 6 ticks when I'm trading intra-day, 1 min to 60 min time frame.
0931 CST We have a 0932 time coming up, but I probably won't do anything as we are right in the middle of a range today. As of this moment in time, I put the range at 108 01 and 107 26. It is pointless to make a move at this time. There are other times coming up.
Chart of the 0900 and the 0932 turning points. Note that the chart is in EST. My calls are always CST.