July 1, 2019 — We ended June with some really nice days to cap-off a great month and it continued as we started July today in the LIVE! Trading Room.
Following hints of good news about the US-China trade disputes, the stock indexes (ES, YM, NQ) all spiked up sharply at the close on Friday. They gapped farther up when markets re-opened Sunday night.
In case you don’t know, we day trade some of the most volatile and profitable markets including those stock indexes: the E-Mini S&P (ES), the E-Mini NASDAQ (NQ), the E-Mini Russell (RTY) and Crude Oil (CL) in the LIVE! Trading Room.
Today was a little difficult because while the market structure supported price testing the highs, once they did we found there weren’t many buyers and price started declining. When the market structure and price action supported selling, we quickly transitioned to our Plan B and became sellers instead of buyers.
In doing so, we captured a FANTASTIC Add-On Day!
I’ll make a video showing the trades and explaining a little more how and why we switched to Plan B selling. Look for a link here soon. Until then, I’ll be posting daily screen captures from the LIVE! Trading Room.