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Don’t fall into this daytrading trap
The morning range once again — following the yen’s lead — gave us a long only bias. From there it was up to us to stick with the long side from the morning range lows. Oftentimes, though, it can set up some traps for bullish latecomers. Here’s how to avoid that trap.
How to Use the Initial Balance
Days like today, we started off and kept our bullish directional bias… and as important as that is, there is one more criteria we need to see met to stay bullish into the second half of the day. Here’s how to use Initial Balance to be better prepared for afternoon trades.
Are you WORKing from home?
Most stocks are getting slammed in the coronavirus crash of 2020, but there are some honey badgers out there that are actually doing better in our current work from home environment. Let’s look at WORK, or Slack Technologies, and I’ll show you how I’m going to trade it.
Short the Short Term Gold Move
While I am a longer-term gold bull, the move higher off the bottom of the Distribution market range could set up a (very) short term setup to the downside, but only if I see a specific setup.
Caution Days and Acting Early
Two things have made the difference when trading the ES and NQ during the morning sessions: Fading extreme levels in the VScore and trading early. The morning fades taken in the direction of yen flow continues to deliver, however, today was a perfect example of why we stay nimble and why quadruple witching can behave unpredictably.
These Are a Few of My Favorite Spreads
If you enjoy trading butterflies there’s a few ways you can set them up so that they’re especially forgiving in this high volatility environment. We’ll recap two we traded this week and setup a third that should work well over the next 30 days.
Tips For Trading This Market? Watch For This Pattern.
If you aren’t aware of this, it can rip your face off.
Daytrading Exhaustion Levels
Finding levels that the market shifts is one of the keys to controlling risk and setting up my daytrades. “Let the trade come to you” works for 1-minute charts too.
Trading the Roller Coaster
In this video, we discuss the wild and erratic swings we are having and what we might expect. We talk about sizing small and being very selective in this market.
