NOT TRADING, IS A TRADE DECISION

There were some excellent after hours trades last evening, and again at the US open.  The afternoon has become a sideways channel waiting for one side to blink on expiration day.  The movement will be fueled by both sides exiting or rolling their positions.

As a trader, unless you are involved with options, why get involved in this anticipated  EOD volatility?  It has been a good week, why risk it? 

Not trading is a trade decision, and now is a good time to decide.

Enjoy your weekend.


EVENING:

Last evening was another excellent session for us.  A number of traders were present, and were able to capitalize on the movement, which eventually hit our target, albeit, not the close of the market.

We had a reversal on the 512 and a CC with the 5m chart as both produced a CMA setup.

AM TRADING

Our trading preference is for a global chart at the open.  The rth is fine after 10 AM EST.  This proved it's value again today when the global was flashing a XRB at the open.  This was a short on the retest  established by the "M" pattern, or our friendly term, the Batman setup.  When a test come quickly, it is a very good short opportunity.  We also had CC with the 512 breaking ma's down.

The next opportunity was the inside test.  We had CC with a CMA break on the 512.

The inside test is a market move below the initial test, and offers a shorting opportunity.  Test will run in a three pronged  PA:  Upper, inside, and the lower. When the cycle is completed, the focus will be to watch for a reversal.

Both the test and the inside test were productive today.