#NAS #DailyReview #DailyOutlook
The housing numbers came in slightly off but close to the expectations. Three things are happening in the market right now when it comes to the news:
1. Bad news, but News that is not that bad it's OK for the market to move bullish.
2. News that's coming in just OK, the market is taking that as a positive and still moving in a bullish direction. Even if the news is negative but close to expectations the market is taking it as a positive.
3. When we get positive news, that beat expectations, the market is overly reacting to the news and doing numbers that are way above expectations.
8:30am
USD
Building Permits
1.45M 1.47M
USD
Housing Starts
1.35M 1.36M
NAS took Thursday’s PDH and that was it. We didn't take out the highs that I expected us to take out and at 8:30 when the news released we sold off and traded down to a 15m+OB. We paused at the +OB, pretty much the rest of the day until around noon. We finally turned positive again, but we weren't able to do much after that because we trade it through the high and then drop right back down.
(Yesterday’s Setup that played out) #1 Still left from yesterday are the PWHs and now the PDH. We are stalling at the moment so it may be a better chance to buy from the LTF if we get any short term highs taken out with a FVG/OB combo.
The buy set up played out but, only partially played out because we didn't trade through the highs. We only tapped into them so the buy set ups are all still in play because we left the PDHs and PWHs still intact.
#1 Look for the buy setup details on the Weekly Outlook chart Sunday
#2 Look for the sell setup details on the Weekly Outlook chart Sunday
1H chart
The housing numbers came in slightly off but close to the expectations. Three things are happening in the market right now when it comes to the news:
1. Bad news, but News that is not that bad it's OK for the market to move bullish.
2. News that's coming in just OK, the market is taking that as a positive and still moving in a bullish direction. Even if the news is negative but close to expectations the market is taking it as a positive.
3. When we get positive news, that beat expectations, the market is overly reacting to the news and doing numbers that are way above expectations.
8:30am
USD
Building Permits
1.45M 1.47M
USD
Housing Starts
1.35M 1.36M
NAS took Thursday’s PDH and that was it. We didn't take out the highs that I expected us to take out and at 8:30 when the news released we sold off and traded down to a 15m+OB. We paused at the +OB, pretty much the rest of the day until around noon. We finally turned positive again, but we weren't able to do much after that because we trade it through the high and then drop right back down.
(Yesterday’s Setup that played out) #1 Still left from yesterday are the PWHs and now the PDH. We are stalling at the moment so it may be a better chance to buy from the LTF if we get any short term highs taken out with a FVG/OB combo.
The buy set up played out but, only partially played out because we didn't trade through the highs. We only tapped into them so the buy set ups are all still in play because we left the PDHs and PWHs still intact.
#1 Look for the buy setup details on the Weekly Outlook chart Sunday
#2 Look for the sell setup details on the Weekly Outlook chart Sunday
1H chart
