Trading Plan for Wednesday, April 9th, 2024
Market Sentiment: Volatile and uncertain. CPI came in hotter than expected, increasing the likelihood of continued aggressive actions by the Federal Reserve.
CPI Data and Impact:
CPI rose 0.4% for the month, resulting in a 12-month inflation rate of 3.5%, surpassing expectations.
Core CPI also accelerated 0.4%...
Trading Plan for Tuesday, April 9th, 2024
Market Sentiment: Consolidating within a tight range. Expect a breakout or breakdown with the potential for increased volatility.
Key Supports
Immediate Supports: 5246, 5232-35 (major), 5221, 5212, 5207 (major).
Major Supports: 5196-98 (major), 5181, 5172 (major), 5155 (major), and many more.
Key...
Trading Plan for Monday, April 8th, 2024
Market Sentiment: Bullish with potential for volatility as CPI data approaches.
Important Note: CPI data will be released later this week. Expect outsized moves and potential traps. Prioritize risk management and adaptability.
Key Supports
Immediate Supports: 5246 (major), 5230-34 (major), 5221, 5212, 5207, 5203...
Trading Plan for Friday, April 5th, 2024
Market Sentiment: Extreme volatility expected due to the recent selloff and NFP data release. Caution and adaptability are crucial.
Important Note: Nonfarm Payrolls (NFP) was released at 8:30 AM (EST). Expect outsized moves and volatility. Avoid predictions, and look for failed breakdowns as potential trade entry...
Trading Plan for Tuesday, April 2nd, 2024
Market Sentiment: Cautious, tactical trading within a range, price discovery in the context of a strong uptrend.
Weekly Volatility Risk: High (price discovery in a new zone, potential chop)
Supports to Watch:
Immediate Supports: 5294, 5286 (major), 5278-80 (major), 5274, 5267 (major), 5262, 5256, 5249, 5243-46...
Expecting a large downside to unwind and target 5120 level or below. which is a good liquidity pool resting downward and we have seen a nice market structure shift after taking out the buyside liquidity
