Here’s the next installment of our weekly prep video series: Profiling to Profit: the week ahead in futures
The theme going forward this week is one of caution. We have the typical news, and we do have some fed speakers. FOMC minutes release on Tuesday. While this is not the large FOMC meeting, this can still introduce some volatility.
We spent a fair bit of time this week discussing defined risk when looking for set-ups. We’re not scalpers. We’re position traders looking for the larger move, and defining your risk as you build into the trade is key.
- In the financials: Nasdaq, S&P, and the Russell we see some opportunity to the downside.
- In currencies: the Euro is looking for news from ECB on Thursday, so consider the sidelines for this one.
- In the metals: Gold looking weak as well, we cover a good defined area for entry to the short side.
- In energy: Crude, we’re not interested in being long crude. For now, we’re going to see if we can get another push higher and a better risk
- Finally, in the grains: Corn has a high probability of touching 396 before eventually seeing 399.
Prep for your week so that you can profit! Watch the video here.
Reviewing and prepping for potential trades in: Nasdaq, S&P, Russell, Gold, Euro & Corn
If you have questions about anything you see here, shoot us a reply. We’d love to help.
Matt & Josh,
Market Profile Trading Academy