- Ace in the Hole
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- Ace in the Hole - Edition #78
Happy Monday Traders!
Welcome back, I hope you all enjoyed the weekend. It was much needed after the crazy week we had.
Earnings season is drying up as we only have a couple interesting companies reporting this week. We do have some more red folder data that awaits us.
Let’s dive in!
Market Thoughts
$NQ_F ( 0.0% ) 1hr Chart
From here we either continue to hold bullish order flow on the higher time frames such as: 1hr, 4hr, Daily, or we respect the SMT, IFVG, and CISD put in and start moving lower.
If we do end up selling off, I think we sell of to 20,727. Why this level? Because it is the Daily Range Lows, as well as the 50% retracement of last month’s price action.
It also lines up with the Standard Deviation projection from the 1hr manipulation leg we saw.
I’m more bearish going into the week looking for this move to the half back of last month’s range, but if we continue to fail bearish setups and hold bullish order flow I will not be trying the short.
The market speaks to us, if it’s telling me it’s not time, I’m going to listen to it.
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Weekly Gems
They also have a weekly newsletter where they send YOU the best setups they have from the platform directly to your inbox.
I recommend checking out both the app and the newsletter.
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Earnings Calendar
Economic Calendar
These data points are known to bring volatility during the intraday:
Wednesday 8:30 ET, CPI
Thursday 8:30 ET, PPI & Unemployment Claims
Friday 10:00 ET, Prelim UoM Consumer Sentiment & Inflation Expectations
Trending Sectors
Technology, Energy, and Communication Services were at the top of the list for trending sectors this past week.
Top trending tickers from last week:
Have A Great Week!
As always, enjoy the week and trade safe everybody.
Let’s make some $$!
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