{quote} The retest is bullish. I'm not in yet.
Edit:
TP1 hit.
- #821
- Edited 10:16am Oct 30, 2024 9:17am | Edited 10:16am
- Joined Jan 2016 | Status: Trader | 3,916 Posts
Edit:
TP1 hit.
- #823
- Oct 30, 2024 2:29pm Oct 30, 2024 2:29pm
- Joined Jan 2016 | Status: Trader | 3,916 Posts
{quote} I changed my entry level and I took this entry after getting a 5min bearish candle (even it's inside the previous one)! Let see. {image} Edit: TP1 hit.
- #825
- Oct 30, 2024 3:52pm Oct 30, 2024 3:52pm
- Joined Jan 2016 | Status: Trader | 3,916 Posts
End of day analysis:
Yesterday, NQ provided a bullish close. We would expect a continuation up, but it was almost completely reversed! Market does what it has to do, we just follow; prediction is a loosing strategy!
Today, we got a full red daily candle, but it did not engulf yesterday candle; it's inside it. Hence, it's not bearish.
Today's earnings seem inline with expectations for both MSFT and Meta (major ones).
Tomorrow we have PCE data. I will trade after the news and NY opening. Until then, have a good one Everyone!
Yesterday, NQ provided a bullish close. We would expect a continuation up, but it was almost completely reversed! Market does what it has to do, we just follow; prediction is a loosing strategy!
Today, we got a full red daily candle, but it did not engulf yesterday candle; it's inside it. Hence, it's not bearish.
Today's earnings seem inline with expectations for both MSFT and Meta (major ones).
Tomorrow we have PCE data. I will trade after the news and NY opening. Until then, have a good one Everyone!
- #828
- Oct 30, 2024 7:43pm Oct 30, 2024 7:43pm
- Joined Apr 2009 | Status: Live and learn. | 25,165 Posts
META earnings today did not thrill the market, we'll see if it bounces Thurs. META is 5% of the Nas100
"If The Fool persists in his Folly he will become wise." - William Blake
- #829
- Oct 30, 2024 7:48pm Oct 30, 2024 7:48pm
- Joined Apr 2009 | Status: Live and learn. | 25,165 Posts
ditto MSFT today, MSFT is 8.2%. Tomorrow we have AAPL (9%) and AMZN (5%).
"If The Fool persists in his Folly he will become wise." - William Blake
- #830
- Oct 30, 2024 10:02pm Oct 30, 2024 10:02pm
- Joined Apr 2009 | Status: Live and learn. | 25,165 Posts
"If The Fool persists in his Folly he will become wise." - William Blake
{image}
- #832
- Oct 31, 2024 1:16am Oct 31, 2024 1:16am
- Joined Apr 2009 | Status: Live and learn. | 25,165 Posts
{quote} I guess the direction will be more clear tomorrow with NFP data.
I'd say we r in a good news=good and bad news = bad environment mostly, but it's a bit confused. If we see sticky inflation (PCE), markets may have their longing for more rate cuts disappointed - could be a bearish impact. If we see strong econ data, the idea is there is no recession, so the "soft landing" dream is intact and the bull market can continue. To me, markets look like they want to roll over going into election week. If earnings and econ data combine in the right way, we could see a couple big red candles Thurs-Friday.
Friday's data...
(times shown on the snaps are 1 hr early.....see the good calendars on the tradingeconomics website:
https://tradingeconomics.com/calendar
"If The Fool persists in his Folly he will become wise." - William Blake
- #833
- Oct 31, 2024 8:00am Oct 31, 2024 8:00am
- Joined Jan 2016 | Status: Trader | 3,916 Posts
{quote}NDX looking to open gap down, hopefully over 100 pts; if AMZN and AAPL can disappoint tomorrow then we could see a good slide in the index into NFP day. I need a dip below 20,000 by election day....
- #834
- Oct 31, 2024 8:04am Oct 31, 2024 8:04am
- Joined Jan 2016 | Status: Trader | 3,916 Posts
Good day!
Both Asian and Europe sessions sold NQ and we got a break from H4 and below.
Data came inline. I think NY session will continue the sell off after a bounce.
Both Asian and Europe sessions sold NQ and we got a break from H4 and below.
Data came inline. I think NY session will continue the sell off after a bounce.
- #837
- Oct 31, 2024 10:08am Oct 31, 2024 10:08am
- Joined Jan 2016 | Status: Trader | 3,916 Posts
NY session has continued the sell off without giving any bounce.
Price reached the low of the previous week where liquidity are sitting. Let see if the buyers will gain this battle!
Will wait of a breakup and retest of the weekly low to go long.
Price reached the low of the previous week where liquidity are sitting. Let see if the buyers will gain this battle!
Will wait of a breakup and retest of the weekly low to go long.
- #838
- Oct 31, 2024 10:32am Oct 31, 2024 10:32am
- Joined Jan 2016 | Status: Trader | 3,916 Posts
NY session has continued the sell off without giving any bounce. Price reached the low of the previous week where liquidity are sitting. Let see if the buyers will gain this battle! Will wait of a breakup and retest of the weekly low to go long. {image}
