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Forum for price action traders that want to learn WRB Analysis basic tutorial chapters 1, 2 and 3 prior to purchasing our advance trade methods. Hashtags: #wrbanalysis #wrbzone #wrbhiddengap #priceaction #trading
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 Post subject: March 4th Friday 2011 (No Trades Personal Day Off)
PostPosted: Sun Mar 06, 2011 10:08 pm 
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Joined: Sat Jan 10, 2009 2:06 pm
Posts: 4335
Location: Canada
Image

Trade Results of M.A. Perry
Trader and Founder of WRB Analysis (wide range body/bar analysis)
Price Action Trading (no technical indicators)

Quote:
I took a personal day off from trading because I needed to prepare for a special weekend with my kids. I usually take 1 - 2 days off from trading each month...mainly to re-energize and to recapture my discipline. If you have any questions about my trading, want more details about the trade signal behind a particular trade or want to reply about something stated in this message post...click here.

Trade Performance for Today: +0.00 points or $0.00 dollars in the Russell 2000 Emini TF ($TF_F) Futures.
Russell 2000 Emini TF Futures - 1 tick or 0.10 = $10.00 dollars and there's more contract information @ The ICE.
S&P 500 Emini ES Futures - 1 tick or 0.25 = $12.50 dollars and there's more contract information @ CMEGroup.

In addition, today's #FuturesTrades trading chat room logs provides details about each trade from entry to exit along with commentary as the trade traversed...all archived @ http://www.thestrategylab.com/ftchat/forum/viewtopic.php?f=88&t=773.

Also, posted below are direct links to information about my trade methodology and trading plan (there's a difference between the two) that enables me to identify key trading areas in the price action that represent changes in supply/demand and volatility along with being able to exploit these changes via WRB Analysis (wide range body/bar analysis).

Image WRB Analysis Tutorials @ http://www.thestrategylab.com/WRBAnalysisTutorials.htm and there's a free study guide of the WRB Analysis Tutorial Chapters 1, 2 and 3 @ http://www.thestrategylab.com/tsl/forum/viewtopic.php?f=5&t=180.

Image Volatility Trading Report (VTR) @ http://www.thestrategylab.com/VolatilityTrading.htm and there's a free trade signal strategy @ http://www.thestrategylab.com/tsl/forum/viewforum.php?f=89 so that you can freely test drive one of our trade strategies with support prior to purchasing the Volatility Trading Report (VTR).

Image Trading Plan Daily Routine @ http://www.thestrategylab.com/tsl/forum/viewtopic.php?f=135&t=965

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Image Market Summaries

The below summaries by Bloomberg, CNNMoney and Yahoo! Finance helps me to do a quick review of the fundamentals, FED actions, global economics that had an impact on today's price action. Simply, I'm a strong believer that many variables causes key changes in supply/demand and volatility that's arguably just as important as my technical analysis.

Image CNNMoney.com - Stocks Squeeze Out Gains In Oil-Dominated Week
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030411-Key-Price-Action-Markets-1.png
030411-Key-Price-Action-Markets-1.png [ 397.72 KiB | Viewed 288 times ]

click on the above image to view today's price action of key markets

By Ken Sweet, contributing writer
March 4, 2011: 4:45 PM ET

NEW YORK (CNNMoney) -- U.S. markets fell sharply Friday as oil prices jumped to more than $104 a barrel. Still, stocks managed to eke out gains for the week.

The Dow Jones industrial average (INDU) dropped 88 points, or 0.7%, to 12,170. The Dow had lost as much as 170 points earlier in the session.

The S&P 500 (SPX) slid 9.8 points, or 0.7%, to 1,321.20; and the Nasdaq Composite (COMP) lost 14 points, or 0.5%, to 2,785.

All three indexes closed higher for the week, with the Dow rising 0.3%, and the S&P and Nasdaq rising 0.1% each.

Quickly rising energy costs were the dominant force on traders' minds once again Friday. Crude oil prices jumped $2.90 a barrel, or 2.9%, hitting $104.81 on reports of continuing unrest in Libya and news of protests planned in Saudi Arabia. Gas prices continued to rise, adding 4.4 cents to the AAA national average of $3.35 a gallon.

Traders said that as long as oil remains at elevated levels and Middle East unrest remains unresolved, stock performance will continue to closely track the price of oil.

"Oil above $100 a barrel will remain a persistent headwind to the equity markets, but the bigger question is how long does oil remain at these levels," said Michael James, senior equity trader with Wedbush Morgan Securities.

With oil front and center, Wall Street dismissed the Labor Department's report that the economy added 192,000 jobs in February -- which was in line with expectations. The unemployment rate ticked down slightly to 8.9%.

Investors said Thursday's rally was mostly in anticipation of the jobs report. However the mostly positive report was cast aside once oil prices began rapidly rising during the session.

"Thursday's (rally) was in hopes of a return to job growth, and -- you know what -- we got it and that's great," said Jeff Kleintop, chief market strategist for LPL Financial. "But now we're concerned if this job growth is sustainable with these high oil prices."

Economy: The Commerce Department said factory orders rose 3.1% in January, the biggest gain since September 2006. Economists were looking for factory orders to rise 2%.

* Video - BullHorn: Jobs back, Monster Hiding

Companies: Wal-Mart (WMT, Fortune 500) shares rose 0.1% after the retail giant raising its annual dividend to $1.46 per share.

World markets: European stocks closed lower as oil prices rose. Britain's FTSE 100 lost 0.2%, the DAX in Germany dipped 0.7% and France's CAC 40 fell 1%.

Asian markets ended sharply higher. The Shanghai Composite rallied 1.4%, the Hang Seng in Hong Kong jumped 1.2% and Japan's Nikkei gained 1%.

Currencies and commodities: The dollar rose against the euro and the Japanese yen, but was flat against the British pound.

Gold futures for April delivery rose $12.20 to $1,428.60 an ounce.

Bonds: The price on the benchmark 10-year U.S. Treasury fell, pushing the yield up to 3.55% from 3.52% late Thursday.

Special thanks to Bloomberg, CNNMoney and Yahoo! Finance for their market summaries. gm

Best Regards,
M.A. Perry
Trader and Founder of WRB Analysis (wide range body/bar analysis)
Price Action Trading (no technical indicators)
Image@ http://twitter.com/wrbtrader and http://stocktwits.com/wrbtrader

Phone: +1.708.572.4885
Business Hours: 8am - 5pm est (Mon - Fri)
Skype Messenger: kebec2002
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