Crazy paper trading day

Tomorrow morning 8:30am.... I have my (paper) strategy I'm testing.

Just prior to the news release, I will set a buy order just above, and a sell order just below, one cancels the other. Then, there's a TP currently 20 points away.

I have an appointment tomorrow morning so unfortunately I'll be driving when the markets open at 9:30a, but I will guess that whatever way the price moves immediately after the news at 8:30, the market will make a move in the same direction at 9:30.
 
farmerjohn1324 said:
Tomorrow morning 8:30am.... I have my (paper) strategy I'm testing.

Just prior to the news release, I will set a buy order just above, and a sell order just below, one cancels the other. Then, there's a TP currently 20 points away.

I have an appointment tomorrow morning so unfortunately I'll be driving when the markets open at 9:30a, but I will guess that whatever way the price moves immediately after the news at 8:30, the market will make a move in the same direction at 9:30.
More...

I am thinking that there will be a 50% retrace of which ever the dominant direction between 8:30 and 9:30 AM ET tomorrow morning turns out to be. Then around 10:30 AM, a steady follow-through of the dominant trend for rest of day. That's how it used to play out in the bull market.
 
Overnight said:
I am thinking that there will be a 50% retrace of which ever the dominant direction between 8:30 and 9:30 AM ET tomorrow morning turns out to be. Then around 10:30 AM, a steady follow-through of the dominant trend for rest of day. That's how it used to play out in the bull market.
More...

And what about between 9:30-10:30?
 
Overnight said:
Chop and slop. It all depends on the deviation of the report from expectations. Am basing this on a meeting of expectations. Anything extreme above and below expectations is where it gets nutty.
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I need to avoid falling in the trap of "chasing" like I did following the last NFP report.

I'll let markets settle down after I (hopefully) win big immediately following.
 
farmerjohn1324 said:
I need to avoid falling in the trap of "chasing" like I did following the last NFP report.

I'll let markets settle down after I (hopefully) win big immediately following.
More...

This is what I expect the 10AM-to-ending of day to look like tomorrow...Just like today, but with greater range...

,nq1112023rise.JPG


Whether it is an uptrend or downtrend depends on the number, so it could be a mirror image.
 
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