The 3-2-1 Approach: A Simplified Method for Trading Any Market

F2 Comments: the market slowly traded to its conclusion/balance point on Tuesday from which a new move emerged in I period. The new move took the market lower and it closed weak. The market is pointed lower overnight/tomorrow. The key will be whether the selling continues or not. The news Wednesday could once again be less than favorable for the financials.

Wednesday’s news: Challenger Job Cuts is expected at ???; ADP employment Report at -148K; Crude inventories and the Fed Beige Book.

Want to sell into early strength and see if 119-08/12 can be taken out. If not, will cover. First sell band is 119-19/23 followed by 119-25 OB. Cover, if the OVN session’s low or 119-08/12 holds.

F2PM12-01.jpg
 
F2 Comments: It was a news day trade on Friday. The news was bad and the market broke hitting 117-19 before the selling was over. The rest of the day was spent in consolidation. The close was weak. The structure and market activity favor lower prices on Monday without news.

Follow through selling is the issue. If the ES is sideways to higher, want to sell into early strength and see if 117-12/19 can be taken out. If not, will cover. Sell zone is 117-27/118-03. Cover, if 117-12/19 then holds.

F2PM12-04.jpg
 
F2 Comments: A very quiet day in the Note Monday. No news to drive the trading. Technical buying and perhaps tomorrow’s 3 Y auction supported the market and it held its gains into the close. It is pointed higher tomorrow too. No news to drive tomorrow’s trading. The direction of the ES may come into play given the lack of news.

Want to buy early weakness and see if 118-16/20 can be taken out. If not, will exit the trade and begin to look to the short side of the market. Buy zone is 118-01/05. Exit and/or reverse, if 118-16/20 is then rejected.

F2PM12-07.jpg
 
F2 Comments: The market traded sideways today with both support and resistance holding up throughout the session. The 10Y auction held the market in a tight range. No news to drive the trading. By the close the market activity slightly favors lower prices tomorrow without news. A lower market off the opening would help set up the 30Y auction too.

Some news to get through tomorrow. Initial Jobless Claims is expected at -450K, Continuing Claims at 5.47 M, and Trade Balance at -36.8 B.

Want to sell early strength and see if 118-08/12 can be taken out. If not, can trade from the long side. Aggressive sell zone is 118-19/23. Back up sell is 118-25/29. Cover and/or reverse, if 118-08/12 then holds.

F2PM12-09.jpg
 
F2 Comments: The market sold Thursday as per the analysis. The structure favored lower prices and that is what happened. The recommended sell zone was 118-11/15. The day session high was 118-125. The market sold for the rest of the session and just after the 30 Y auction. Buyers were found below 117-30 and the market closed well off its lows at 118-06. The market activity analysis is mixed to lower.

Some news to get through Friday: Retail Sales is called up .5%; ex-auto at +.5%; Michigan Sentiment at 68.5; and Business Inventories at -.2%.

Cans sell failure at 118-07/11 OB or can buy support at 117-28/00. Retail Sales is likely to tell the tale of the tape.

F2PM12-10.jpg
 
Quote from bthomas:

F2 Comments: The market sold Thursday as per the analysis. The structure favored lower prices and that is what happened. The recommended sell zone was 118-11/15. The day session high was 118-125. The market sold for the rest of the session and just after the 30 Y auction. Buyers were found below 117-30 and the market closed well off its lows at 118-06. The market activity analysis is mixed to lower.

Some news to get through Friday: Retail Sales is called up .5%; ex-auto at +.5%; Michigan Sentiment at 68.5; and Business Inventories at -.2%.

Cans sell failure at 118-07/11 OB or can buy support at 117-28/00. Retail Sales is likely to tell the tale of the tape.

F2PM12-10.jpg
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bthomas- what is in this for you to post this "stuff" ?
 
What's in it for me?

Charlie Cochran helped me to become a profitable trader, so I assist in promoting the TM trading room. My status is explained, I believe, at the beginning of this thread.

I am not a TM employee. I am an independent trader who uses TM software. I was formerly a Series 3 broker and owned a small IB in Chicago. You can look me up on the NFA web site.

It's nothing more than that really. When you find a person who does business with honesty and integrity, and helps you succeed, you look to return the favor.
 
i read him daily, never a post about self promotion, stuff is great, just a decent guy, used to be expected of ya, now it's a standout, thanks B
 
Quote from ammo:

i read him daily, never a post about self promotion, stuff is great, just a decent guy, used to be expected of ya, now it's a standout, thanks B
More...

Where can I find his postings? I'd love to learn more.
 
i.m referring to B Thomas, the author of this thread, he posts a chart and support ,resist for bonds every evening or morning, in this thread
 
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