2019-03-26 Raffaele

My analysis and routine checks for Tuesday 2019-03-26.

So S&P500 moved in a range pretty much the whole day yesterday, as expected really…what next?

See the Sunday’s analysis on markets by Will from RetailFade in the video on the side;

I’ve started following recently his tradingroom where he trades purely E-mini SP500 with a highly experienced approach to Market Profile and Orderflow, he aims at taking quick rotations in price for targets of 5 points at the time, which is something that should work fine for everyone working his way into obtaining funding.

From the headlines:

“Let’s hope this week is better than last. Friday closed out with reports showing factory output in the eurozone fell in March at the fastest pace in six years and U.S. manufacturing activity slid to its lowest level in almost two years. The drumbeat of unsettling news drove the yield on 10-year Treasury notes below that of three-month bills for the first time since 2007. That situation, known as an “inverted” yield curve, has preceded every U.S. recession since 1975 and is viewed by many investors as a reliable predictor of downturns, Paul Kiernan reports.”

“Global Stocks Extend Rally

Read my analysis from and Trading Report from Monday the 25th of March.

Wanna read the Wall Street Journal for free? Here is how to! (completely legal no worries)

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These 2 charts from Sierra show clearly where the POC Point of Control from the previous days are: these price level are very important, the market very often will try to push or retrace to go and meet them; I would point out E-mini S&P500 2861, 2753, GOLD 1295.6, 1318.4, 1342.6;

Be aware: these levels are not trade signals nor ideas, just important levels to make note of.

In order to avoid breaking another rule from the Founders we need to check today’s economic calendar. Today’s data releases: 13:30 US building permits; 15:00 US Consumer confidence; 21:00 NZ Interest rate decision.

Let’s pay attention to these important data coming out today especially for Topsteptrader, TopstepFX and Savius traders as trading during these hours would mean losing your funded account!

Not a problem to be trading over data releases if you are with Earn2Trade in The Gauntlet, Oneuptrader and FTMO.

The contracts with the highest volume and therefore the one we should be trading are:

June for S&P500 (mini ES) ESM9, and April month for GOLD GCJ9.

Trading a contract with lower volumes would mean breaking Topsteptrader’s rule and lose the challenge and the Funded Account.

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