Strategy

My TIMM Trading Pit Commentary – Wk Of 3/4/19

TIMM (Traders’ & Investors’ Mentor Market) provides the tools analysts need to share their insights in a central location, TIMM becomes a market where traders and investors can shop for the insights they’re looking for.
The Trading Pits are, in some ways, the main meeting place for TIMM. Here you will see folks sharing insights and asking questions about markets.

Commentary from this past week includes:

Gold daily demand held…even through non-farm payroll.

You see what I mean about that better zone on the YM.

US dollar in 4 hr supply.

Back from the gym, stopped out of trade, the risk was price didn’t clear pivot, the better trade was the dotted zone, cleared the pivot and was a strong move away from the level.

Got in on the DOW futures…heading to the gym now. One of the best things you can do a a trader is to not stare at your trade…because you can’t control the markets.

Russell taking off without me, will try and find an entry on the DOW or Nasdaq.

ES, YM and RTY bouncing off of demand zones.

US Markets are down 1%…it’s 10:30 am, looking for reversals at this point for a bounce higher.

The Canada dollar just hit my 4 hr demand and is pulling back, I was hoping for price to penetrate the zone a bit deeper before considering going long…let see how things go.

Sorry wrong pic.

But first the Nikkei needs to take out these 60 min demand zones first.

If the Nikkei can take out that 4 hr pivot low, price has room to run down to 20500.

Bank of Canada Rate Statement coming out in 10 mins, I will be watching the4 hr demand zone below current price.

The Aussie Dollar just sitting below a 4 hr demand zone which is located at the nice whole round number of .7000. I will try and splice into the trade using a smaller timeframe, but I will need to see that price once to move higher first.

So the globex bear trap on the Russell futures didn’t work, but the bear trap worked on the DOW futures on the 2 min chart. I didn’t take the trade, as news was coming out while price was in the zone. Also, I’m looking for shorts as the US markets look like they are rolling over in the short term.

Nice trade set-up on the 10 yr bonds, price couldn’t quite get there yesterday. 4 hr supply zone set-up is still valid, if the US equities can rise again, then drop.

After the huge drop in the US Equity Markets yesterday, I went long on the Russell 2000 when price re-entered a 60 min demand…was stopped out by 0.5 ticks (LOL). Pre-market there is a 2 min globex bear trap set-up, but I believe it’s low odds.

Here’s a nice set-up that played on on Friday on the Nikkei price pulled back to a 15 min demand zone before moving higher. An example, of supply and demand working on a different market from the ones I normally trade.

A new market I’m looking to trade is the Nikkei because it directly inverse correlated to the Japanese Yen. I will just monitor it for now in order to get to know its personality.

Japanese Yen sitting within daily and 4 hr demand. I would like to go long, but I need to see price take out the pivot high first.

US equity markets open higher. This chart is the DOW futures. I’m looking at the 15 min supply around 26200 to short, which is within a daily supply zone.

This post is my personal opinion. I’m not a financial advisor, this isn’t financial advise. Do your own research before making investment decisions.

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