Dow 2008 vs Present
The Dow appears to be replicating the price movements it exhibited before the market crashed in 2008.
YMU2013 trade ideas
Dow Jones Daily Gameplan Next 6 MonthsThis is what I am somewhat looking for and how I plan on trading the market. I don't know if it will play out like I imagine it but to me, this is what makes the most sense.
In order for the next monster move higher, we are going to need to pull back a bit more. April 19th's low can not be the low yet. It just doesn't make any sense.
Week of May 5 - DXY/Oil/DJI/NDX/VIX/10yrWhat a WILD week we had!
Last week was insanely noisy between the FOMC on Wed, NASDAQ:AAPL earnings on Thursday, and NFP on Friday. This coming week of May 5th offers very little in the way of news catalysts, so it will be great for us TA based traders.
So far, all of our weekly objectives have been playing out - and nothing has really changed from my perch here. I am still looking for new lows to come on indexes, but we will get into that later in this thread.
The Powell pump candle was reversed completely by the cash close last Wednesday.
Thursday night, NASDAQ:AAPL admitted they have slowing sales in China, but its (not as ad as feared) - so they gapped it up 4%.
And on Friday - the market rallied on weak job numbers as the job market is softer than expected.
Seems legit.
CBOT_MINI:YM1! - The Dow behaved REALLY clean this week. You'll notice that all we did, was sweep LAST weeks lows, and return back to the IRL/FVG to reload more shorts. From HERE, I am looking for a weekly IRL to ERL move - with a final objective of LOY. From there we can wait and see where the next ERL to IRL move is.
May started last week, so we had a fresh monthly candle that initially had a FVG forming. This index pop over the past 2 days has now filled the monthly chart.
Everything on CBOT_MINI:YM1! is really clean here and aligned. We have the monthly that has filled it's monthly FVG, the weekly ran last weeks lows and has returned to IRL (in PREMIUM) to reload for shorts, and the h4 is running up into its 200sma.
Looking over at the scammy CME_MINI:NQ1! - its the same setup on the weekly. The Monthly candle filled a FVG that was forming, the weekly returned to a IRL in Premium, and the h4 is running into a 200sma.
If you average NQ and YM together- you get SPX. The difference is that they will hold YM steady while the sell NQ - and then rotate. It's really interesting to watch but the net effect of it is that the damage and move done to SPX is minimized this way.
When you get a setup like we are seeing here - where both NQ and YM are aligned for sell programs - headed into a quiet week with no news - danger!
This just Smells like a strong smell setup to me.
Lets talk NASDAQ:AAPL for a minute.
ALL they did - was run this thing up into the LAST open gap from Feb. The MegaCap tech stocks are SO large that they tend to behave pretty cleanly with respect to gap fills and the like.
To ME - this is a massive bull trap - I have 0% interest in chasing this thing
VIX - Now that we have talked about how the indexes are primed for a sell program IMO - lets look at the VIX for any clues we can glean.
I will cover the weekly VIX in the next section, but VIX is now filling it's gap it created from a month ago.
This is supportive of markets - until it isn't. I am looking for Monday to have a slight pop in markets as the VIX fills its gap - and then they start selling indexes things with vigor Tue-Thur.
DXY/10yr/VIX - DXY Pulled back last week - but I still am looking for higher prices on the weekly objective to ~ 107
I am looking for rates to start to ease here as the economy weakens. I have an oversized bond long position on as I think this is the most asymmetric trade in the market currently. Bonds are starting to smell the weakening economy and are moving towards lower rates - the last missing piece is the 2s/10s inversion.
This has been the largest and deepest yield inversion - in the history of markets - and it is NOT bullish. If history is any guide, once the 2/10s spread de-inverts - we typically see market crashes (note the dates in red)
Oil - WTI got its head kicked in last week, and we are a pivotal level here.
If Oil keeps crashing - it is just ANOTHER indicator of the weak economy. I honestly dont have any weekly context on oil at the moment - but the h4 chart shows us running right into the 200sma.
The scary part about the weekly chart is how we have displaced lower. Next week will be a big deal to see how we backtest and confirm the breaker lower. Oil could head down to the lower 70s before we can see any appreciable bounce.
So here is the setup I am watching for this week;
We saw YM pop into our weekly IRL level - from here I will be looking for 4hr charts to displace lower and start the march towards nLOY.
Looking for interest rates to continue to march lower - this will be bullish for indexes (at first) as indexes tend to ignore WHY rates are dropping for a little while.
Oil MUST make a stand here - and soon. Otherwise I see us trading back into the 70s for monthly levels.
Until next week - We'll be watching.
YM LongYM just had a nice breakout and retest from a descending wedge/channel. Now it looks like it's flagging for another leg higher.
Elliott Wave Analysis on Dow Futures (YM) Favors UpsideShort Term Elliott Wave View in Dow Futures (YM) suggests the Index ended wave (4) correction at 37473. The Index has now turned higher in wave (5). However, it still needs to break above the previous wave (3) peak on 4.1.2024 at 40358 to rule out a double correction. Up from wave (4), wave ((i)) ended at 38451 and pullback in wave ((ii)) ended at 382808. Wave ((iii)) ended at 38682, dips in wave ((iv)) ended at 38428, and final wave ((v)) higher ended at 38801. This completed wave 1 in higher degree.
Pullback in wave 2 unfolded as a zigzag Elliott Wave structure. Down from wave 1, wave ((a)) ended at 37944 and wave ((b)) rally ended at 38592. Wave ((c)) lower ended at 37866 which completed wave 2 in higher degree. The Index has turned higher again in wave 3 of (5). Up from wave 2, wave (i) ended at 38527 and pullback in wave (ii) ended at 38037. Wave (iii) higher ended at 38958 and dips in wave (iv) ended at 38661. Near term, as far as pivot at 37473 low stays intact, expect pullback to find support in 3, 7, or 11 swing for further upside.
YM - Sitting On My HandsUnlike ES and NQ, YM is not trading above it's respective highs which is $38,958 and barely closed in a premium indicating weakness.
Sitting on my hands awaiting more information.
Options Blueprint Series: Ratio Spreads for the Advanced TraderIntroduction to Ratio Spreads on E-mini Dow Jones Futures
In the dynamic world of options trading, Ratio Spreads stand out as a sophisticated strategy designed for traders looking to leverage market nuances to their advantage. Regular options on the E-mini Dow Jones Futures are a popular choice (YM).
Defining the E-mini Dow Jones (YM) Futures Contract
Before delving into the specifics of Ratio Spreads, understanding the underlying contract on which these options are based is crucial. The E-mini Dow Jones Futures, symbol YM, offers traders exposure to the 30 blue-chip companies of the Dow Jones Industrial Average in a smaller, more accessible format. Each YM contract represents $5 per index point.
Key Contract Specifications:
Point Value: $5 per point of the Dow Jones Industrial Average.
Trading Hours: Sunday - Friday, 6:00 PM - 5:00 PM (Next day) ET with a trading halt from 5:00 PM - 6:00 PM ET daily.
Margins: Varied based on broker but generally lower than the full-sized contracts, providing a cost-effective entry for various trading strategies. CME Group suggests $8,400 per contract at the time of this publication.
Ratio Spread Margins: Often require a careful calculation as they involve multiple positions. Traders must consult with their brokers to understand the specific margin requirements for entering into ratio spreads using YM futures. Margins for Ratio Spreads are often equal to the margin requirement when trading the outright futures contract.
Understanding Ratio Spreads
Ratio Spreads involve buying and selling different amounts of options at varying strike prices, but within the same expiration period. This strategy is typically employed to exploit expected directional moves or stability in the underlying asset, with an additional emphasis on benefiting from time decay.
Types of Ratio Spreads:
Call Ratio Spread: Involves buying calls at a lower strike price and selling a greater number of calls at a higher strike price. This setup is generally used in mildly bullish scenarios.
Put Ratio Spread: Consists of buying puts at a higher strike price and selling more puts at a lower strike price, suitable for mildly bearish market conditions.
Mechanics:
Execution: Traders initiate these spreads by first determining their view on the market direction. For a bullish outlook, a call ratio spread is suitable; for a bearish view, a put ratio spread would be applicable.
Objective: The primary goal is to benefit from the premium decay of the short positions outweighing the cost of the long positions. This is enhanced if the market moves slowly towards the strike price of the short options or remains at a standstill.
Risk Management: It's crucial to manage risks as these spreads can lead to limited losses if the market moves against the trader, or surprisingly to many, to unlimited losses if the market moves sharply in the desired direction. Proper stop-loss settings, adjustments and continual market analysis are imperative.
Focused Strategy: Bullish Call Ratio Spread
In the context of the E-mini Dow Jones, considering the current upward trend with potential slow advancement due to overhead UFO (UnFilled Orders) Resistances, a Bullish Call Ratio Spread can be particularly effective. This strategy allows traders to capitalize on the gradual upward movement while keeping a lid on risks associated with faster, unexpected spikes.
Strategy Setup:
Selecting Strikes: Choose a lower strike where the long calls are bought and a higher strike where more calls are sold. The selection depends on the resistance levels indicated by the UFOs.
Position Sizing: Typically, the number of calls sold is higher than those bought, maintaining a ratio that aligns with the trader's risk tolerance and market outlook.
Market Conditions: Best implemented when expecting a gradual increase in the market, allowing time decay to erode the value of the short call positions advantageously.
Real-time Market Example: Bullish Call Ratio Spread on E-mini Dow Jones Futures
Given the current market scenario where the Dow Jones Index is experiencing a bullish breakout, it’s crucial to align our options trading strategy to take advantage of potential slow upward movements signaled by overhead UFO Resistances. This setup suggests a favorable environment for a Bullish Call Ratio Spread, aiming to maximize the benefits of time decay while managing risk exposure effectively.
Setting Up the Bullish Call Ratio Spread:
1. Selection of Strike Prices:
Long Calls: Choose a strike price near the current market level (Strike = 39000).
Short Calls: Set the higher strike prices right at or above the identified UFO Resistances (Strike = 41000). The rationale here is that these levels are expected to cap the upward movement, thus enhancing the likelihood that these short calls expire worthless or decrease in value, maximizing the time decay benefit.
2. Ratio of Calls:
Opt for a ratio that reflects confidence in the bullish movement but also cushions against an unexpected rally. A common setup might be 1 long call for every 2 short calls.
Execution:
Trade Entry: Enter the trade when you observe a confirmed break above a minor resistance or a pullback that respects the upward trend structure.
Monitoring: Regularly monitor the price action as it approaches the UFO Resistances. Adjust the position if the market shows signs of either stalling or breaking through these levels more robustly than anticipated.
Trade Management:
Adjustments: If the market advances towards the higher strike more quickly than expected, consider buying back some short calls to reduce exposure.
Risk Control: Implement stop-loss orders to mitigate potential losses should the market move sharply against the position. This could be set at a level where the market structure changes from bullish to bearish.
This real-time scenario provides a practical example of how advanced traders can utilize Bullish Call Ratio Spreads to navigate complex market dynamics effectively, leveraging both market sentiment and technical resistance points to structure a potentially profitable trade setup.
Advantages of Ratio Spreads in Options Trading
Ratio Spreads offer a strategic advantage in options trading by balancing the potential for profit with a controlled risk management approach. Here are some key benefits of incorporating Ratio Spreads into your trading arsenal:
1. Maximizing Time Decay
Optimized Premium Decay: By selling more options than are bought, traders can capitalize on the accelerated decay of the premium of short positions. This is particularly advantageous in markets exhibiting slow to moderate price movements, as expected with the current Dow Jones trend influenced by UFO resistances.
2. Cost Efficiency
Reduced Net Cost: The cost of purchasing options is offset by the income received from selling options, reducing the net cost of entering the trade. This can provide a more affordable way to leverage significant market positions without a substantial upfront investment. The Net Debit paid is 403.4 (690 – 143.3 – 143.3) = $2,017 since each YM point is worth $5.
Note: We are using the CME Group Options Calculator in order to generate fair value prices and Greeks for any options on futures contracts.
3. Profit in Multiple Market Conditions
Versatile Profit Scenarios: Depending on the setup, Ratio Spreads can be profitable in a stagnant, slightly bullish, or slightly bearish market. The key is the strategic selection of strike prices relative to expected market behavior, enabling profits through slight directional moves while protected against losses from significant adverse moves.
4. Flexible Adjustments
Scalability and Reversibility: Given their structure, Ratio Spreads allow for easy scaling or reversing positions depending on market movements and trader outlook. This flexibility can be a critical factor in dynamic markets where adjustments need to be swift and cost-effective.
Risk Management in Ratio Spreads
While Ratio Spreads offer several benefits, they are not without risks, particularly from significant market moves that can lead to potentially unlimited losses. Here’s how to manage those risks:
Stop-Loss Orders: Setting stop-losses at predetermined levels can help traders exit positions that move against them, preventing larger losses.
Position Monitoring: Regular monitoring and analysis are crucial, especially as the market approaches or reaches the strike price of the short options.
Adjustments: Being proactive about adjusting the spread, either by buying back short options or by rolling the positions to different strikes or expiries, can help manage risk and lock in profits.
Conclusion
Ratio Spreads, particularly in the format of Bullish Call Ratio Spreads demonstrated with E-mini Dow Jones Futures, offer a sophisticated strategy that balances potential profit with manageable risks. This approach is suited for traders who have a nuanced understanding of market dynamics and can navigate the complexities of options with strategic finesse.
When charting futures, the data provided could be delayed. Traders working with the ticker symbols discussed in this idea may prefer to use CME Group real-time data plan on TradingView: www.tradingview.com This consideration is particularly important for shorter-term traders, whereas it may be less critical for those focused on longer-term trading strategies.
General Disclaimer:
The trade ideas presented herein are solely for illustrative purposes forming a part of a case study intended to demonstrate key principles in risk management within the context of the specific market scenarios discussed. These ideas are not to be interpreted as investment recommendations or financial advice. They do not endorse or promote any specific trading strategies, financial products, or services. The information provided is based on data believed to be reliable; however, its accuracy or completeness cannot be guaranteed. Trading in financial markets involves risks, including the potential loss of principal. Each individual should conduct their own research and consult with professional financial advisors before making any investment decisions. The author or publisher of this content bears no responsibility for any actions taken based on the information provided or for any resultant financial or other losses.
YM - Springboard From SellsideIn comparison with ES and NQ, YM has been more disciplined in terms of following market order flow as there are few liquidity gaps present and the ones that are present (such as the one I outlined last week @ 38238 - 38150 was respected going into last weeks trading.
I must note that Thursdays sell off through the newfound liquidity void has meant that smart money capitalising off retail, believing the market is most likely going to keep trickling downwards from Thursday onwards are in a world of fire Fridays price action was an inside day. This means big movements is expected to come soon.
With Thursday - Friday liquidity void still yet to be traded up into, that will be my first point of call, alongside the bearish daily order block mixed in with the EQ @ $38,862 being the second target in mind.
Since last weeks sellstops has been attacked, will buyside be next?
Analyzing the Downtrend in YM1! (Mini Dow Jones Futures)YM1! (Mini Dow Jones Futures) has experienced a significant downtrend recently, prompting traders to seek insights into the reasons behind this decline. In this analysis, we will explore several factors contributing to YM1!'s downward movement.
Technical Analysis:
Bearish Trendline Break: YM1! has breached a key support level represented by a bearish trendline on the daily chart. This breach suggests a shift in market sentiment towards bearishness, potentially triggering further selling pressure.
Moving Averages: The 50-day moving average has crossed below the 200-day moving average, forming a bearish crossover pattern known as the "death cross." This technical signal often indicates a prolonged downtrend, as shorter-term momentum weakens compared to longer-term trends.
Relative Strength Index (RSI): The RSI indicator is showing oversold conditions, indicating that YM1! may be due for a temporary bounce or consolidation. However, it's essential to note that oversold conditions can persist in strong downtrends, and the RSI alone may not signal a reversal.
Fundamental Analysis:
Geopolitical Tensions: Uncertainty surrounding geopolitical events, such as trade disputes, political instability, or diplomatic tensions, can weigh on investor confidence and lead to risk aversion. Traders should monitor headlines for any developments that could impact market sentiment.
Economic Data: Weak economic indicators, such as slowing GDP growth, rising unemployment, or declining consumer confidence, can contribute to a bearish outlook for equity markets like YM1!. Traders should pay close attention to upcoming economic releases for insights into the health of the economy.
Monetary Policy: Central bank policies, including interest rate decisions and quantitative easing measures, can influence market dynamics. Hawkish statements from central banks signaling a tightening of monetary policy or concerns about inflation may dampen investor optimism and lead to selling pressure in equity markets.
Conclusion:
In conclusion, several factors, both technical and fundamental, are contributing to the downtrend in YM1! (Mini Dow Jones Futures). Traders should remain vigilant and adapt their strategies accordingly, considering both short-term trading opportunities and long-term investment perspectives. Additionally, risk management is crucial in navigating volatile market conditions and minimizing potential losses.
YM 4 Hour Broke High (Push Phase Form Next HH) BullishNow that NFP broke bullish above the last 4 hour pivot high, price is still in bullish push phase to reach the next higher high. Looking at somewhere in supply zone.
I am looking for the next higher low pullback to be in the demand zone and above the last higher low made by FOMC.
Of course, NFP could also just be a false break and will trade back inside that range. This could also be a consolidation range after a move down for the resumption of the move down.
Week of April 28 - DXY/Oil/DJI/10yrLast week we got the YM1! backtest that I wanted on the weekly.
We rejected the weekly IRL and now I am looking to take out LOY on the Dow.
Dropping to the h4 chart, we can clearly see the market is now primed to drop. I am looking for a sweep of highs to begin the weekly sell program.
For those watching - we also got the 50% retrace of SPX on the weekly.
DXY - DXY made a ERL move and ended the week in a Doji. I am looking for DXY to continue its assent to the weekly ERL levels. We had another regional Bank Failure on Friday evening (they only fail banks over the weekend) - this should continue to bid DXY.
Crude Oil - OIl woke up this week and started to pop late in the week. I am still bullish oil into the 88/90 area.
Dropping to the 4hr chart, you can really see what oil wants to reach for. The 200sma is acting as support, and we are continuing to see dips bought.
10yr Yield - We pierced the 4.7% level and immediately rejected it on the 10yr this week. I still believe that yields are peaking here as we march towards a recession.
Gold - Gold on the weekly retraced to the 50% level into IRL. From HERE - it could go either way. We saw a displacement and market structure shift on the daily and 4hr charts. If gold stalls out there, we are heading lower.
So here is the setup I am watching for this week;
We saw YM pop into our weekly IRL level - from here I will be looking for 4hr charts to displace lower and start the march towards nLOY.
Looking for interest rates to continue to march lower - this will be bullish for indexes (at first) as indexes tend to ignore WHY rates are dropping for a little while.
Oil has one last gasp in it and will be supported by DXY heading lower to confirm its breakout - I am looking for $88 to trade on WTI.
Until next week - We'll be watching.
Bullish NFP Inside Bearish Flag (Inside H&S)I think the market is trying to rally a little bit and form the lower high and the right shoulder.
I placed the 0.5 and 0.66 golden pocket as a general guide to where it COULD pullback to.
That cluster I marked, to me, is a dead give away that is the market's objective and will take that out for a stop run.
I have noticed that the past 12 NFP's have generally been bullish/range bullish and will look for Longs. Funny it gapped up 0.70% upon the Asia open.
YM1! morning updateCurrent micro-primary count for YM1!. Working off premise of impulse wave down from 40358 to 37463, corrective double-three bounce off low with zigzag W, X, expanded flat Y. Count valid with price above 37866, with median line of pitchfork as target.
Dow pay outWaiting for Fed decision at 2 pm its looks like bull is rejecting and market will fall sharply
Week of April 21 - DXY/Oil/DJI/10yrNobody will ring a bell at the top.
What a great selloff we had last week! I was expecting a pop higher for the sell but they just wanted to pull the rug on bulls early in the week it seems.
Pretty much everything got monkey hammered. Indexes and Oil slid while gold held in (for now). The great news is we now have a directional market to trade again - these are MUCH easier to trade compared to the sideways chop that NDX has experienced for the past 2 months.
Last week, we saw pretty hard selling across the board and I think this is just the first warning shot of the coming recession. We have been in the largest and longest bull market in history and it feels like we are nearing a tipping point.
This week, I will be focusing on the Dow. I have really enjoyed trading the Dow as it has really clean charts compared to NDX. This comes from the fact that the DJI has the 30 largest USA companies in the index which tend to be rather stable from a price standpoint.
The added benefit is that there are no tech stocks getting subjugated to gamma squeezes or mania like NVDA or AI related plays. It's nice to have a boring index that trades clean.
Dow - Friday during the Asia session - Israel attacked Iran. This spooked markets and go us into our QUARTERLY downside target for the DJI. In fact, DJI was down YTD during the Asia session until the bounced it higher. But what this means for us, is that I am looking for higher targets from HERE on the DJI in the short run.
On the Weekly, I would LOVE to see a bounce back higher to 39k area. This will get us into the premium of the entire swing lower, and would allow us to target that FVG living up there at 39.4k. We swept the LOY on DJI - now we need a backtest.
The good news is that dropping down to the h4 charts, we can see that we almost have a Market Structrue Shift (MSS) to bullish. The 200sma on the 4hr chart also aligns with our weekly target area - but we could see a nice 1000 point gain in DJI before we turn lower again
DXY - DXY formed a weekly Doji. I am expecting last weeks lows to be swept on DXY before it resumes its uptrend.
Crude Oil - OIl got absolutely smashed last week. That being said, I still want to see 88 trade on WTI before we roll over. This looks like it was just a pullback to the 200sma area on the 4hr chart.
10yr Yield - We have been waiting for the 10yr to tag our 4.7% level so we can start loading the boat with bonds. Last Tuesday gave us just that opportunity, From here, I am expecting rates to start to drop and in a big way - this will align with the oncoming recession.
Gold - Gold closed the week > 2400 but off its ATH. I still want to see Gold come in on the weekly chart, but we need to crack 2340 for that. I have alerts set for Gold but I am not super intent on watching it at these levels.
So here is the setup I am watching for this week;
I want to see DJI trade higher into the the weekly breaker block around 39k. From there I will be scouting for short entries.
Looking for interest rates to continue to march lower - this will be bullish for indexes (at first) as indexes tend to ignore WHY rates are dropping for a little while.
Oil has one last gasp in it and will be supported by DXY heading lower to confirm its breakout - I am looking for $88 to trade on WTI.
Until next week - We'll be watching.
YM Downtrend until Gapfill Before next major rallyI am looking at a repeat of the previous correction back in July 2023.
Some key takeaways:
Deathcross triggered April 4th
Hourly 200sma is now in downtrend mode
Currently in a bear flag consolidation to pullback into the declining 200sma
Space under the low of the bear flag in relation to the prior pivot low
A gap that needs to be filled at the start of the move higher
I don't know where the bottom will be at but I do know that the next bull move higher WILL take out the highs and continue on to make even more all time highs as we are still in a bull trend. I forecast Dow Jones to be around 75,000 at 2033.
YM - Big Dougg Leading The PackThe weekly internal liquidity has been made with buyside resting at $38637 and sellside printed at $37463 but the overall week has been rangebound.
We can clearly see that there has been a fight at the daily liquidity void with candle bodies rejecting that zone. 38344 Fridays high is my first point of interest with 38410* being target 2.
Last week Thursday's price action might be the manipulation that YM needs if we are to continue bullish price action. Intraday highs has already been poached at 38137.
Hourly buyside liquidity is where i am aiming for.
My philosophy is simple...
Fortify Michael J Huddlestone's concepts that I have studied to consistently predict where the market is more likely to go.
This includes;
- Market Structure
- Buyside/Sellside Liquidity
- Order Blocks
- Liquidity Voids
- Fair Value Gaps
- Optimal Trade Entry
- Premium/Discount Array
- SIBI/BISI
- Many More!
The strategies mentioned here are some of many that I use to implement into my analysis and over time, with consistency I aim to achieve a high degree of accuracy in the markets with the foresight and understanding to assess what went wrong when my bias is negated.
Credits;
- Michael Joe HUDDLESTONE
- Shawn Lee POWELL
- Toray KORTAN
Dow Jones Bullish Pullback On Hourly Time On the hourly chart, looking for a bullish pullback at/near the rising hourly 21ema.
Looking for a sideways consolidation to go sideways until the 21ema catches up.
The green line inside of the consolidation is Tuesday's closing price.
Stop will be 75 ticks and Target is up there around 200 ticks
Hourly 200sma Downtrend Signal For Lower LowsA technique that I use is during a downtrend, the first pop above the 200sma 9/10 will produce a lower low and continue down to break the lows.
Price is currently popping above the 200sma
I will show you various examples of this technique from the last two years
Using this information, I will expect the lows to be broken and a new lower low will form, possibly down to the green line I drew.
Dow Jones YM Parabolic Dump Setting Up Wed or ThurI am waiting for the dump back down to the flat hourly 200sma and support of Friday's close.
Depending on how Tuesday and Wednesday trade out. I will be looking at the pivot lows for stop loss hunts.
Same setup as Thursday October 12th on the hourly chart.
Same broken down market trading in a negative position.
YM1! Intraday short plan (Monday 22/04)As price is showing weakness, looking for it to come down and test the below 4HR FVG. See chart for entries and TP area! Good luck and happy trading!
YM1! - Massive Sell-Off!Due to a delayed upload, my bias is neutral for the duration of the week. Initially, i was looking out for the weekly order block to be attacked, which occured before continuing it's downwards projection to the weekly sellside liquidity @ 37,675.
In my last YMM post, i stated that YM could front run the index markets and thats exactly what we saw. But this does not mean it will be the case this time round so it's something to be mindul of.
I would like to see this weeks liquidity void respected, with todays candle closing below 38,237 and YM has a good chance of repricing to 37,675.
My philosophy is simple...
Fortify Michael J Huddlestone's concepts that I have studied to consistently predict where the market is more likely to go.
This includes;
- Market Structure
- Buyside/Sellside Liquidity
- Order Blocks
- Liquidity Voids
- Fair Value Gaps
- Optimal Trade Entry
- Premium/Discount Array
- SIBI/BISI
- Many More!
The strategies mentioned here are some of many that I use to implement into my analysis and over time, with consistency I aim to achieve a high degree of accuracy in the markets with the foresight and understanding to assess what went wrong when my bias is negated.
Credits;
- Michael Joe HUDDLESTONE
- Shawn Lee POWELL
- Toray KORTAN
