The CPI data is scheduled for release tomorrow, and as usual, it is expected to bring volatility to the market. Therefore, the potential for moves outside of the intraday targets increases.
Hey Smash. Quick question. I recognized 5045 to 5047.50 as initiative buying that failed the retest and price managed to find acceptance below after J-Period caused by the responsive selling at 5064. I was unable to trade the initiative buying because it never really retested in a following TPO, but did manage a solid trade down from 5060 ish.
I've been hesitant to trade initiative selling...well because of the obvious price action since November, but my general question is have you found that responsiveness holds more weight than initiative or vice versa? Thanks.
Thanks! The 5067/71 area was surgical!
Thanks Smash. Responsive selling dropped the ball on Friday. Glad they came back for two-sided activity today.
Hey Smash. Quick question. I recognized 5045 to 5047.50 as initiative buying that failed the retest and price managed to find acceptance below after J-Period caused by the responsive selling at 5064. I was unable to trade the initiative buying because it never really retested in a following TPO, but did manage a solid trade down from 5060 ish.
I've been hesitant to trade initiative selling...well because of the obvious price action since November, but my general question is have you found that responsiveness holds more weight than initiative or vice versa? Thanks.
Thank buddy, another great day scalping longs and shorts.