A Rollercoaster of Decisions: Navigating Thursday's Trading Terrain
Trading is a constant challenge, filled with highs and lows, successes and setbacks. Thursday, 1/11, proved to be a day of dynamic market movements, testing my decision-making and adaptability. In this blog post, I'll take you through the events of the day, exploring the strategies, successes, and lessons learned. Morning Unveiling: CPI Report and Initial Rebound The day began with flat overnight prices until the 8:30 CPI report, which came in slightly lower than expected. This drove prices down to the S1 level on the daily chart at 4804. However, a rebound followed, bringing prices back to 4830 around the 9:30 open. First Trade: Shorting the Weakness As I observed all three PPMs above both of their derivatives, a notable weakness appeared as PPM 2 and 3 couldn't sustain their positive trend, projecting a return to a negative slope. My first trade came at 9:40, going short at 4826. Although PPM 2 hinted at a rebound, I opted to take profits at 4820(10ma), gaining 6 points. In...