Big week ahead? Oy, Illan, you are old and busted now, after the hellscape we went through starting from last October.. We want some new hotness. Not your old busted bald headness.
Wait and see.... How about all time highs on both gold and Bitcoin to start the day with NQ down close to 300 points? Powell testifying tomorrow and Thursday and NFP Friday can trigger additional volatility.
Levels for tomorrow March 6th below Here is a link to the PDF Cleve Fed White paper on the affect of FED Chair MPR testimony on Stock and Bond prices If you want the short version, Stock indices have historically been more volatile on Day 1 of any MPR testimony.. I’ve provided you with the link to the House Financial Services committee so you can watch live on Wednesday. https://financialservices.house.gov/
Weekly newsletter $1185 is now live with a wheat outlook, quick info on open interest, our automated trading system of the week and more! Levels for March 11th below:
Weekly newsletter issue #1186 is live! In this issue: Important Notices -FOMC Next Week Trading Resource of the Week - Understanding Price Limits and Banding Hot Market of the Week - May Bean Oil Broker's Trading System of the Week - Gold Swing System Trading Levels for Next Week Trading Reports for Next Week Weekly levels below:
Levels for March 19th along with major reports for the week: #ES_F #NQ_F #RTY_F #SI_F #GC_F #CL_F #ZB_F #ZS_F #BTC #crudeoilfutures #goldfutures #bitcoinfutures #futuresdaytrading #commoditytrading #LearnToTradeFutures #commoditiestrader #futurestrader #futuresmarket #commoditiesmarket #cme #globex #nymex
FOMC Tomorrow: The last few FOMC meetings I looked for trades until around 930 AM Central time and then somewhat "took a step back". I would then follow closely around 1 PM Central when the announcement comes out but try to not pull the trigger until 1:15/ 1:30 when the smoke clears. CURRENTLY the market is expecting no change in rates. Language will be watched closely. This is of course just my personal preferences and every trader is different. Take notes after the trading session so you can look back and refer the next FOMC meeting.... Below are some additional tips/observations I have taken notes of for myself: · Reduce trading size · Be extra picky = no trade is better than a bad trade · Choose entry points wisely. Look at longer time frame support and resistance for entry. Take the approach of entering at points where you normally would have placed protective stops. Example, trader x looking to go long the mini SP at 4425.00 with a stop at 4419.00, instead "stretch the price bands" due to volatility and place an entry order to buy at 4419.75 and place a stop a few points below in this hypothetical example ( consider current volatility along with support and resistance levels). · Expect the higher volatility during and right after the announcement · Expect to see some "vacuum" ( low volume, big zigzags) right before the number. · Consider using automated stops and limits attached to your entry order as the market can move very fast at times. · Know what the market was expecting, learn what came out and observe market reaction for clues · The rate announcement comes out exactly at 1 PM central. As of this morning there is a 99% chance of no change in rates. · Traders will pay EXTRA attention to the language and the Q&A which starts at 1:30 PM Central · Be patient and be disciplined · If in doubt, stay out!!