Morning Ideas July 25 2019 E-Mini/E-Micro SP500
Hey guys,
Morning ideas weren't downloading properly yesterday so I apologize for not having a video for the morning yesterday.
In class, we talked about it being a toss up on the open and it was best to take a wait and see approach, with an eye on 3010 as the breakout area.
Well, we ran right to that area on the open and sat there. Glorious opportunity and a great teaching lesson there.
In this product (SP500) we get these opportunities on breakout pullbacks very often and they are low risk plays.
They are low risk because if the breakout fails, you don't have to give it a lot of room before the idea is toast.
For today, I'm a bit concerned with the strong bar overnight because it could be sign of exhaustion.
Will monitor on the open to determind whether I will add, or start peeling some off.
Tough to see what the market will do here because we are at all-time-highs and there is no data up here.
I still have an eye on 3010 below, let that be your guide.
Morning ideas weren't downloading properly yesterday so I apologize for not having a video for the morning yesterday.
In class, we talked about it being a toss up on the open and it was best to take a wait and see approach, with an eye on 3010 as the breakout area.
Well, we ran right to that area on the open and sat there. Glorious opportunity and a great teaching lesson there.
In this product (SP500) we get these opportunities on breakout pullbacks very often and they are low risk plays.
They are low risk because if the breakout fails, you don't have to give it a lot of room before the idea is toast.
For today, I'm a bit concerned with the strong bar overnight because it could be sign of exhaustion.
Will monitor on the open to determind whether I will add, or start peeling some off.
Tough to see what the market will do here because we are at all-time-highs and there is no data up here.
I still have an eye on 3010 below, let that be your guide.