Lower Value Hit

We got the break under yesterdays point of control and our target of 12241 (LVA) was taken out. I did take a scalp long at that point but now I am flat and going to wait and see if market wants to test this LVA again, or try to head back to POC. So far a good morning. This is fun stuff.

If we see price above and accepted above 12268 keep an eye out for bulls to step in and make an attempt at least back up to 12284 (today’s developing POC)

Opening Trades

Sorry to get to this so late. It’s been a busy morning for me. I had a bit of reading to catch up on.

Trading today has been again very technical. You could have had two nice trades today so far. The first, after the open and test of the previous day’s high. This was a soft sell. After getting back below the opening price with intrest it was a trade short with a target being at Friday’s upper value area. This target was for me a target to sell the entire position and if you had the guts to take a long of of it. If you did you would have caught another decent trade. About 50 points in the first hour so thats enough for me to sit on my hands and watch until the afternoon. I included the MP chart so you can follow the morning moves.

I also has a long signal at 10:30 in the qqqq’s but I did not take it. Reason is that I am no longer taking positions so close to the 10:30 hour. This may change but for now it’s part of my plan. Reason is that I think traders like to play games around this point. They are preying on the newer traders who will try to play the classic”breakout” at this point. In my opinion this play is outdated currently and is just to dangerous a time to place a trade. I let the qqqq’s trade pass me by and it seems it was s good idea as it is very choppy now. I would expect more of this chop for awhile. I’m done for the morning. Going to continue to catch up on my reading and get my numbers for the week ready. i will post them soon. Good trading