SUPERTRADERS ⚜️

The Timeframe of Truth - even a trendline break becomes meaningful

Well, today is the last day for the week. What a roller coaster ride has it been after a massive breakout from the consolidation and a whipsaw price action from CPI

Give yourself a meaningful mental rest

if you feel that the market has demanded a lot from you. Sometimes a good rest is what you need to be in the right state of mind and have clarity to progress.

For those who are trading today we have the following news (GMT+8):

Retail Sales 8.30PM

Michigan Consumer Sentiment 10PM

The consensus is pointing towards a weaker than expected data compared to previous. So we anticipate that price may be bullish till then until it pulls back the the newly formed supply area.

Since today is the last day of the week, don't over do it and trade late into the market hours.

These are some reflection questions for you:

What could have I done better in this past two weeks?

What did I learn from the market behaviour this past two weeks so that I do not repeat the same mistake next time?

Was there any interesting price action that delivered results and if I should further research and backtest it?

Did I really plan these 2 weeks out and followed my plan or was I plainly excited and was random?

Answer these and reflect on them. We hope you learned a great deal from us and will be learning a lot more.

We will see you next week in our TikTok live! Have a great weekend SuperTraders

Hello SuperTraders

A tricky CPI yesterday with prices being choppy even until early today before breaking below 4400 again.

Today we will have the second round of inflation report with Producer Price Index (PPI) being the highlight (GMT+8) :

PPI 8.30PM

Core PPI 8.30PM

Initial Jobless Claims 8.30PM

The consensus for PPI and Core PPI is expected to be higher than previous (bearish for gold) while jobless claims is expected to be slightly bullish.

Looking at the overall flow of news events lined up, looks like we could finally have a good correction in the market first but maybe not too bearish too soon since we still have news flows tomorrow. So we want to look at the key levels and where is the ideal correction level. Anything beyond that is just a bonus.

So we will be discussing this in our TikTok Live later. See you at 7PM (GMT+8) onwards