This week brings with it a lot of events that could and will move the most hitting mid week Wednesday The European Central bank (ECB) in the morning, then we have the U.S Federal Reserve (The Fed) at 2;15. Expectations are high going into these meetings/announcements. 2 questions need to be asked going into this.
1. Has the best case scenario been price into the market?
and
2. What is the best case scenario?
Just like everyone else, we can all guess on the outcome. But my whole thesis and HPS methodology would be discounted do to the fact I can't control what happens Wednesday. I can gamble a bit and I can make my call on how I think it will play out. But I have been tightening up the discipline and focus over the past month and now I feel even more motivate to let things play out, and just continue to wait for the next HPS and trade. It. This might not be exciting and could get a bit boring, But it will continue to outperform.
I pretty much discussed on the video how the cards are on the table it's time to see if the ECB is bluffing, Not expecting much from the Fed this month, but could come earlier then the Sept meeting. This week rides on the ECB. Friday we have the Non Farm payrolls and of course the carrot will be swinging after this report. Meaning bad news is good news for who are on the wall of worry.
Oh by the way I expect the market to move up into the Wednesday announcements. I expect the ECB to announce some measure in stimulus and Bound Buying (SMP) after this well back to the same game trade the chart, each daily and 60 min stochastic cross over has forcasted a decent directional trend to trade. Right now we have a positive daily cross plus a lot of underlying stocks in a very bullish patterns. Up early in the week.
Here's a a video that again stresses the importance of sticking to your rules. and how simple those rules could be. I also review last week trades but breaking them down in the HPS style. I felt good making this video. feel great going into next week.
