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Market Profile Trading Academy / MissTrade's Matt Davio - Ask Me Anything (AMA)

  #47 (permalink)

Bend, Oregon
Trading Experience: Master
Platform: Ninja
Broker/Data: Ninja/Amp TOS, IB
Favorite Futures: NQ
MissTrade's Avatar
Posts: 63 since Mar 2013
Thanks: 5 given, 64 received

NARRATIVE For 7-17-13

Don’t let the small break fool you. A small double top lead to the small dip today. The volume was still very low (just over a millions contracts traded on the $ES). Today was most likely a few people unwinding some positions in front of Uncle Ben talking tomorrow and Thursday. I don’t blame them…I am not a big fan of holding into a puppet masters speech. No telling what that guy will say…so best to cover some and lock in profits. Also, if you are a newbie trader best to sit out the next two days. The market will most likely have some crazy swings before finding a direction. Up in this area a pull is needed but 1700 is calling the name of many a trader. There is nothing wrong with waiting for a better day to trade. Remember, successful trading doesn’t mean you have to trade every day. Have a great Wednesday…trade well.

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