My TIMM Trading Pit Commentary – Wk Of 4/1/19

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Commentary from this past week includes:

The Russell 2000 futures daily supply finally got breached after holding several times.

Didn’t take trade, we had demand form on the 2 min chart right before the zone.

A beautiful 30 yr bond 60 min supply zone that just hit. I’m going to a 2 min time frame to see if I want to take the trade or not.

Decided to get out of my bond trade tonight. With non-farm payroll tomorrow morning, I didn’t want to risk giving up all my profits. The trade was good for a reward:to risk of 7:1. If the job report is lackluster and the 10 yr bonds spike to one of the yellow boxes, I will consider shorting it again.

Oil is at levels not seen since November 7th of last year.

Nasdaq at six month highs, but price is sitting in weekly and monthly supply zones.

New 4 hr demand formed yesterday on the S&P 500 futures.

S&P 500 futures in 4 hr supply, I don’t anticipate the zone holding and think price marches higher.

So I decided not to get out of my 10 yr bond short Friday afternoon because price was in weekly supply and near monthly supply. Since then, price has formed new 4 hr supply (yellow squares) on the way down. I might just turn this into a position trade and ride it all down pending price action at my new target.

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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