MDY trade ideas
MDY vs PPI, CPI, FOMC & Quadruple WitchingMDY has been holding above it's SMA200 for 19 days so far. In the next 7 days there are 4 catalyst events on the horizon.
PPI 12/9 8:30am
CPI 12/13 8:30am
FOMC 12/14 2pm
Quadruple Witching 12/16
Before it's too late, it's time to give careful thought and plan a strategy for upside or downside probabilities & possibilities. Here's MDY levels on the 1-day chart:
SMA's
SMA50 = $438.60
SMA100 = $443.68
SMA150 = $440.17
SMA200 = $449.92
SMA20 Triangular Trend Channel
top = $501.06
R3 = $490.71
R2 = $480.37
R1 = $470.03
pivot = $459.69
S1 = $449.34
S2 = $439
S3 = $428.66
bottom = $418.31
Do your own due diligence, your risk is 100% your responsibility. This is for educational and entertainment purposes only. You win some or you learn some. Consider being charitable with some of your profit to help humankind. Good luck and happy trading friends...
*3x lucky 7s of trading*
7pt Trading compass:
Price action, entry/exit
Volume average/direction
Trend, patterns, momentum
Newsworthy current events
Revenue
Earnings
Balance sheet
7 Common mistakes:
+5% portfolio trades, capital risk management
Beware of analyst's motives
Emotions & Opinions
FOMO : bad timing, the market is ruthless, be shrewd
Lack of planning & discipline
Forgetting restraint
Obdurate repetitive errors, no adaptation
7 Important tools:
Trading View app!, Brokerage UI
Accurate indicators & settings
Wide screen monitor/s
Trading log (pencil & graph paper)
Big, organized desk
Reading books, playing chess
Sorted watch-list
Checkout my indicators:
Fibonacci VIP - volume
Fibonacci MA7 - price
pi RSI - trend momentum
TTC - trend channel
AlertiT - notification
tickerTracker - MFI Oscillator
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One note, from a Ichimoku perspective both MDY and IWM
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