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 Post subject: June 5th Fri - #futures #forex #stocks #trading
 Post Posted: Fri Jun 05, 2020 3:16 pm 
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Joined: Tue Dec 16, 2008 1:02 am
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[09:36:49] * Now talking in ##TheStrategyLab
[09:42:53] <asuni> gm
[09:43:24] <asuni> I'm reading at 10.00 am Trump speech
[09:58:37] <wrbtrader> Shorts Emini ES @ 3175.50 -> small size
[09:58:43] <wrbtrader> 3 contracts
[10:00:02] <wrbtrader> The strong move UP today in the U.S. indices is incredible...we could close by end of day today with the markets POSITIVE for the year
[10:01:00] <wrbtrader> That's a big WOW considering how much money (trillions) that was throw at the economy due to the Pandemic
[10:01:49] <wrbtrader> Covered all Emini ES Short @ 3174.50 --> + 1
[10:03:01] <wrbtrader> The scary issue...with record unemployment...any positive news will be record jobs
[10:03:36] <wrbtrader> Lose 42 million and then hire 2 million...
[10:03:50] <wrbtrader> The new jobs of 2 million is a record :)
[10:04:25] <wrbtrader> The market is disconnected...its still down 40 million jobs :(
[10:05:17] <wrbtrader> This is a perfect example of what's called "market reaction manipulation"
[10:05:37] <asuni> agree
[10:05:58] <asuni> but now, in these conditions, which is your bias at the moment?
[10:06:28] <wrbtrader> I lean heavily on position size management
[10:06:48] <wrbtrader> Normally I would have done that Short with a large position of 10 contracts
[10:07:12] <wrbtrader> Yet...because of the strong UP movement via the manipulation...too risky to go large
[10:07:34] <wrbtrader> I'm small size only for the entire trading day today
[10:07:51] <wrbtrader> Regardless if I'm Long or Short
[10:08:01] <asuni> ok
[10:08:10] <wrbtrader> Yet, I wont be in a trade when President Trump is speaking
[10:10:19] <wrbtrader> Yet, there's a scary resurge in Coronavirus cases and most of the new jobs are in jobs from the "reopening of the salons, barbershops, stores, restaurants and such"
[10:10:52] <wrbtrader> The key jobs like technology and such...still out of work
[10:11:45] <wrbtrader> Regardless, a little good news is always welcome even if its manipulated
[10:12:32] <wrbtrader> Construction and Hospital lead the way in the "new jobs"...not surprising
[10:13:52] <wrbtrader> Hospitals were hiring like madman to keep up with the Pandemic...many nursing students and medical students got jobs "without" finishing the last few months of their education
[10:14:46] <wrbtrader> In contrast, government jobs still LOSING...another 500k jobs lost
[10:15:19] <wrbtrader> That's scary
[10:15:43] <wrbtrader> The government itself is still losing jobs...
[10:16:03] <wrbtrader> Hopefully its in something like "park maintenance" :)
[10:16:25] <wrbtrader> and not something critical
[10:16:39] <wrbtrader> https://www.cnbc.com/2020/06/05/record- ... -2020.html
[10:20:11] <wrbtrader> price noise now...Pres. Trump must be getting ready to speak
[10:21:01] <wrbtrader> Shorts Emini ES @ 3179.00 -> small size
[10:21:10] <wrbtrader> 3 contracts
[10:21:33] <wrbtrader> strange looking Long Upper Shadow interval
[10:22:56] <wrbtrader> market depth stuck in a tight trading range as expected while waiting for the speech by Trump that everybody knows he'll jump all over the new jobs report of 2 million
[10:23:24] <wrbtrader> He'll most likely make the mistake of saying "its over"...the economy is fixed :(
[10:25:11] <wrbtrader> Covered all Emini ES Short @ 3179.50 --> - 0.5
[10:27:40] <wrbtrader> Shorts Emini ES @ 3177.75 -> small size
[10:27:48] <wrbtrader> 3 contracts
[10:29:17] <wrbtrader> Covered all Emini ES Short @ 3177.50 --> + 0.25
[10:30:01] <wrbtrader> price action not able to breakout of the range of that interval with the Long Upper Shadow interval
[10:30:39] <wrbtrader> A dangerous tropical hurricane about the hit the south U.S....
[10:30:47] <wrbtrader> Talk about bad timing...geeesh
[10:31:10] <wrbtrader> President Trump now speaking
[10:34:45] <wrbtrader> Yeah...as expected...he's manipulating the numbers
[10:35:06] <wrbtrader> Lose 42 million and then hire a record 2 million
[10:35:44] <wrbtrader> Several states reopening but don't mention their infection rates / death rates are now rising to record numbers
[10:36:48] <wrbtrader> Regardless, the country needed to be shutdown...borders locked
[10:37:12] <wrbtrader> I think that was the best decision eventhough it strangle the economy
[10:38:25] <wrbtrader> I will be always pessimistic until the end of year
[10:38:37] <wrbtrader> Many unknowns will be then known
[10:43:51] <asuni> still speaking?
[10:44:50] <wrbtrader> Yes
[10:49:03] <wrbtrader> Yeah...he's really hyping the positive news of the surprising "new jobs 2 - 3 million"
[10:54:37] <wrbtrader> Most of the speech so far has been about New Jobs and China
[10:55:46] <wrbtrader> He briefly went into what he's done for minorities and he talked a little about the police / military
[10:56:20] <wrbtrader> The trillion dollar payment but nothing about the skyrocketing U.S. National Debt
[10:56:51] <wrbtrader> He's talking about the new jobs "construction / hospitals / liesure
[10:57:18] <wrbtrader> Lets see if he talks about the key jobs that were loss (government / technology)
[11:03:58] <wrbtrader> Trump still speaking but the financial networks stopped following the speech...networks back to following the markets
[11:08:21] <wrbtrader> He's still speaking
[11:15:14] <wrbtrader> Still speaking but looks like its about the end
[11:21:50] <asuni> neverending uptrend
[11:25:21] <wrbtrader> Speech is over
[11:26:32] <wrbtrader> So far...a big squeeze on the Shorts today
[11:27:17] <wrbtrader> Market Depth after still range bound after the BIG up gap on the open
[11:27:53] <asuni> Just filled an old WRBHG of February
[11:29:38] <asuni> retraced 80% of downmove from Febrary
[11:30:28] <wrbtrader> Consensus was that it would do such but not until AFTER the U.S. Presidential election
[11:32:26] <wrbtrader> Yet, things changed when the government decided to print trillions of dollars to flood the economy
[11:33:44] <wrbtrader> A sad part won't be realized until next week...
[11:34:25] <wrbtrader> Volatility will drop dramatically...its already made a huge drop today down to the 24 area
[11:34:32] <wrbtrader> That's huge decline
[11:34:51] <wrbtrader> Trading will become very difficult next week as volatility continues to decline
[11:35:57] <wrbtrader> As usual, when it drops below 18...I'll be small size only...all day...every day
[11:36:28] <wrbtrader> Just in time for the summer boring trading session when volatility statistically mean reverts
[11:36:49] <wrbtrader> Great time to take many days off from the market and to vacation
[11:37:07] <wrbtrader> unfortunately, can't go anywhere because the borders are still closed :(
[11:43:32] <wrbtrader> Dow Jones +955 points
[11:54:16] <wrbtrader> During the volatility mean reversion...its slow at first but then a big drop shows up...
[11:54:24] <wrbtrader> Like today
[11:54:59] <wrbtrader> It usually signals calmer / boring price movement for awhile
[11:55:30] <wrbtrader> Yet, when it trends (like today)...not a lot of trade opportunities
[11:56:29] <wrbtrader> Reason why those not understanding the "mean reversion of volatility" will lose or struggle in the market because they're trying to continue trading like they were doing during the "high volatility" trading conditions
[11:57:32] <wrbtrader> Its also what I consider the 2nd largest period of account blow ups
[11:58:06] <wrbtrader> Mean Reversion of Volatility is the 2nd most dangerous time period for traders
[12:17:10] <wrbtrader> Correlation a little whacky now
[13:56:05] <wrbtrader> Long Emini ES @ 3198.00 -> small size
[13:56:14] <wrbtrader> 3 contracts
[13:57:17] <wrbtrader> Exited all Emini ES Long @ 3198.25 --> + 0.25
[14:02:12] <wrbtrader> Long Emini ES @ 3200.75 -> small size
[14:02:14] <wrbtrader> 3 contracts re-entry
[14:05:16] <wrbtrader> Exited all Emini ES Long @ 3202.25 --> + 1.5
[14:05:35] <wrbtrader> trail picked as soon as I tighten it
[14:23:39] <wrbtrader> Long Emini ES @ 3199.50 -> small size
[14:23:47] <wrbtrader> 3 contracts
[14:23:48] <wrbtrader> chasing
[14:26:47] <wrbtrader> Exited all Emini ES Long @ 3200.00 --> + 0.5
[14:26:57] <wrbtrader> lucky exit after the chasing
[14:49:54] <wrbtrader> Shorts Emini ES @ 3199.25 -> small size
[14:49:56] <wrbtrader> 3 contracts
[14:50:28] <wrbtrader> volatility increasing the past 15 - 20 minutes
[14:50:55] <wrbtrader> chop now showing up
[14:51:48] <wrbtrader> Covered all Emini ES Short @ 3196.75 --> + 2.5
[14:52:09] <wrbtrader> WRB pt1 reached
[15:11:01] <wrbtrader> Long Emini ES @ 3190.25 -> small size
[15:11:04] <wrbtrader> 3 contracts
[15:11:55] <wrbtrader> Exited all Emini ES Long @ 3190.00 --> - 0.25
[15:12:15] <wrbtrader> Long Emini ES @ 3191.00 -> small size
[15:12:28] <wrbtrader> 3 contracts re-entry
[15:12:38] <wrbtrader> problem exit in the prior trade
[15:13:17] <wrbtrader> Exited all Emini ES Long @ 3189.50 --> - 1.5
[15:15:25] <wrbtrader> Long Emini ES @ 3190.00 -> small size
[15:15:35] <wrbtrader> 3 contracts re-entry
[15:16:31] <wrbtrader> Exited all Emini ES Long @ 3190.25 --> + 0.25
[15:16:38] <wrbtrader> choppy :(
[15:17:29] <wrbtrader> Shorts Emini ES @ 3188.50 -> small size
[15:17:40] <wrbtrader> 3 contracts
[15:18:20] <wrbtrader> Covered all Emini ES Short @ 3188.50 --> 0
[15:18:29] <wrbtrader> small WRB pt1 reached but not able to grab it
[15:23:16] <wrbtrader> Shorts Emini ES @ 3190.75 -> small size
[15:23:30] <wrbtrader> 3 contracts re-entry
[15:24:15] <wrbtrader> too much down pressure in the Market Depth now
[15:24:49] <wrbtrader> Covered all Emini ES Short @ 3192.00 --> - 1.25
[15:25:22] <wrbtrader> not sure how the Eminis are not breaking their most recent reaction lows with that type of down pressure in the Market Depth
[15:29:28] <wrbtrader> Long Emini ES @ 3198.00 -> small size
[15:29:32] <wrbtrader> 3 contracts
[15:30:56] <wrbtrader> Exited all Emini ES Long @ 3197.25 --> - 0.75
[15:36:54] <wrbtrader> Shorts Emini ES @ 3194.00 -> small size
[15:37:03] <wrbtrader> 3 contracts
[15:38:10] <wrbtrader> Covered all Emini ES Short @ 3195.00 --> - 1
[15:38:56] <wrbtrader> Shorts Emini ES @ 3194.25 -> small size
[15:39:09] <wrbtrader> 3 contracts re-entry
[15:39:13] <wrbtrader> still jumpy
[15:41:34] <wrbtrader> Covered all Emini ES Short @ 3188.75 --> + 5.5
[15:41:53] <wrbtrader> good trade reaction to the choppy crap
[15:41:59] <wrbtrader> WRB pt1 reached
[15:43:47] <wrbtrader> Shorts Emini ES @ 3189.50 -> small size
[15:43:56] <wrbtrader> 3 contracts re-entry
[15:43:59] <wrbtrader> intuition
[15:45:18] <wrbtrader> crazy chop
[15:45:44] <wrbtrader> Covered all Emini ES Short @ 3184.75 --> + 4.75
[15:45:52] <wrbtrader> WRB pt1 reached
[15:50:24] <wrbtrader> Shorts Emini ES @ 3183.00 -> small size
[15:50:27] <wrbtrader> 3 contracts re-entry
[15:50:34] <wrbtrader> intuition
[15:50:52] <wrbtrader> Covered all Emini ES Short @ 3184.50 --> - 1.5
[15:53:02] <wrbtrader> Shorts Emini ES @ 3184.00 -> small size
[15:53:14] <wrbtrader> 3 contracts re-entry
[15:53:56] <wrbtrader> Covered all Emini ES Short @ 3184.75 --> - 0.75
[15:56:50] <wrbtrader> Shorts Emini ES @ 3188.00 -> small size
[15:56:54] <wrbtrader> 3 contracts
[15:57:29] <wrbtrader> Covered Emini ES Short @ 3188.75 --> - 0.75
[15:57:29] <wrbtrader> Reverse and Enter Long Emini ES @ 3188.75
[15:58:14] <wrbtrader> Exited all Emini ES Long @ 3187.50 --> - 1.25
[15:59:08] <wrbtrader> Long Emini ES @ 3188.50 -> small size
[15:59:18] <wrbtrader> 3 contracts re-entry
[16:00:04] <wrbtrader> Exited all Emini ES Long @ 3192.00 --> + 3.5
[16:00:29] <wrbtrader> A b.s. battle...crazy chaop
[16:03:44] <wrbtrader> Take care all and see all on Monday
Session Closed

Bloomberg Markets: The Close' Full Show (06/05/2020) @ https://www.bloomberg.com/news/videos/2020-06-05/-bloomberg-markets-the-close-full-show-06-05-2020-video

@ wrbtrader @ Frequently Asked Questions @ Risk Warnings @ Terms of Use Policy


##TheStrategyLab (located on the Freenode IRC network) is free and is a serious professional trading chat room involving WRB Analysis in which any trader (position trading, swing trading, day trading) can use the chat room to post their trades or commentaries about stocks, futures, exchange traded funds or forex currencies. Simply, you don't need to be a client of TheStrategyLab.com to use the free chat room nor do you need to be a price action trader (no indicators) because some members use indicators while others do not. Yet, the only requirement is that you want to learn WRB Analysis.

Therefore, we welcome all traders that want to learn about WRB Analysis regardless if they are beginners or experience traders in price action trading.

The purpose of ##TheStrategyLab is that it's designed to be a trade journal for documentation purposes only so that members can have a time stamp archive of trades and market commentaries of each trading day so that they can better understand their broker statements from one trade to the next trade when they review their performance numbers on any given trading day.

The free chat room is not a signal calling trading room with a head trader telling you what to trade, when to buy or when to sell. In fact, we do not believe in the business model of a head trader telling other traders when to buy and sell. Its a flawed approach to trading and its a flawed substitution for mentoring in which a trader can not learn how to be a successful independent trader.

Further, members are not obligated to educate nor help other members but members are encourage to ask questions about any trades or market commentaries that's posted by others because sometimes the answers contains useful trading tips.

In addition, our primary job in the free chat room is to moderate the room (keep the peace) because with so many members using different trade signal methods along with different opinions about the market...debates or arguments can easily flare up without moderating. In addition, our presence in the chat room is to ensure it's a spam free chat room during trading although these archived chat logs may contain advertisements for guest visitors.

Commonly discussed trading instruments from stocks, futures, exchange traded funds and forex currencies:

Image CME Emini Futures EMD, ES and NQ

Image CME Emini RTY Futures (formerly ICE TF)

Image CBOT mini-sized Dow Futures YM

Image Micro E-mini Futures MES, MNQ, MYM and M2K

Image Eurex Index Derivatives (futures) DAX and DJ Euro Stoxx50

Image Eurex Fixed Income Derivatives (futures) BUND, BOBL and Schatz

Image Euronext Futures FTSE-100 and CAC-40

Image CME Futures EuroFX 6E and EC

Image Treasury Futures T-Notes ZT, ZN, ZF and T-Bonds ZB

Image Forex Currencies Gbp/Usd, Eur/Usd, Eur/Yen, Usd/Cad, Xau/Usd and Xag/Usd

Image Exchange Traded Funds VXX, DIA, IWM, QQQ, SPY, BGU, FAS, FAZ, TNA, OIH, XLE and GLD

Image NYMEX Energy Futures Light Crude Oil CL, Brent Crude Oil BZ/BRN, e-miNY QM and Natural Gas NG

Image COMEX Metal Futures Gold GC, mini-Gold YG, Copper HG and Silver SI

Image S&P CNX NIFTY Futures

Image Hang Seng Index Futures HSI and mini-Hang Seng MHI

Reminder, our Terms of Use (TOU) Policy is a must read to prevent any misunderstandings along with revealing that ##TheStrategyLab is a serious professional price action trading chat room and we expect members to act professional. Also, these logs may have been edited (rarely) to remove any messages that a member has complained to me via private message that they consider a particular commentary to be inappropriate, racist, harassment, lies, hackers, pikers, trolls that's a distraction to members of our chat room, our forum or our website. Yet, the original logs are always maintain for security reasons and legal reasons if needed.

Disclaimer: Today's trading performance is not an indication of my future performance and not an indication of the future performance for any trader that decides to learn/apply WRB Analysis. The risk of loss can be substantial. Therefore, you must carefully consider if trading is suitable for you within the context of your financial condition. TheStrategyLab.com is an education and research site. The resources on this site are provided for informational purposes only and should not be used to replace professional educational and professional research because we are retail traders only. TheStrategyLab.com does not accept liability for your use of the website and its resources.

We make no guarantees of success and your level of success is dependent upon other factors including your skill as a trader, knowledge, financial condition, market conditions and other factors. Trading is stressful and you should always consult a doctor in all matters relating to physical and mental health of you and your family because trading can impact beyond your financial condition regardless if you're a profitable or losing trader. Also, you can read our full disclaimer statement @ http://www.thestrategylab.com/Disclaimer.htm

Image TheStrategyLab Review about Dr. Dean Handley @ http://www.thestrategylab.com/dr-dean-handley-review.htm

Image Rebuttal to Mr. Emmett Moore Jr. via TheStrategyLab.com Review @ http://www.thestrategylab.com/tsl/forum/viewtopic.php?f=84&t=3167

Image Review of Emmett Moore Jr. Tradingschools @ http://www.thestrategylab.com/emmett-moore-jr-tradingschools-review.htm

Image The Strategy Lab: Valforex - The Manipulative Review Scam @ http://www.thestrategylab.com/tsl/forum/viewtopic.php?f=84&t=3676

Image TheStrategyLab Review @ http://www.thestrategylab.com/thestrategylab-reviews.htm

Image Where did wrbtrader go? | Elite Trader @ http://www.thestrategylab.com/ftchat/forum/viewtopic.php?f=161&t=2844

Image Trolls Review @ http://www.thestrategylab.com/trolls-review.htm

Note: chat logs saved (timestamp) from Qu├ębec, Canada in eastern daylight time

Best Regards,
M.A. Perry
Trader and Founder of WRB Analysis (wide range body/wide range bar analysis)
a.k.a. wrbtrader (more info about me): http://www.thestrategylab.com/wrbtrader.htm
TheStrategyLab Price Action Trading
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