Trade Plan for 11/27

Trump Tweets Have Entered the Room

The weekly post for SPY 0.00%↑ and QQQ 0.00%↑ should be reviewed prior to this. Link to The Week Ahead

If you are newer to trading since President Trump was last in office . . .turn notifications on regardless of how you feel about him. Last night was a great example of why. News came out around 6:30pm that Trump planned to enact tariffs on day one which completely and utterly shocked . . .nobody at all. Nonetheless, the algos fired, stop losses triggered and ES collapsed right into the hands of our long setup. On the liquidation price moved quickly through the 5997-6000 spot and to and through Yesterdays low to the 78/79 spot identified on Friday. From last night’s plan:

Sellers got only a 1-minute wick below 5978/79, yesterday’s low was reclaimed, and the rest was history. Note that the Euro session low, outside the context of a Trump tweet liquidation, held 5997 exactly. Price rallied effectively in a straight line to the major 6024-6027 spot where we had the potential short setup.

Those who were long from the overnight session could take profit and hold runners, and those who were flat had the option to take the short. The major targets for this short were 6017 and 6011-13. The cash hours low of day was 6011.25. You can review the setup from today’s Discord commentary:

Here is the above chart picture zoomed in for you study in what an OMP looks like. Both targets were met and from there it was just higher highs and higher lows for the rest of the day.

If long from overnight this would have been a good opportunity to “Hedge the Edge” as I say. One can make money on a day trade short while also holding a day trade long.