Trading the CB Consumer Confidence News

Andy Hurrell’s report about our day-trading session:

TODAY, IN THE TRADING ROOM……. Vahid called it but did we trade it?

During the pre US market open, I had been following a parallel channel you can see in the chart below. Vahid has taught us to look at these support and resistance lines. I was waiting for either a break up or a break down below the support or above the resistance line.

Before you read the rest of this article, submit your email, not to miss the messages that nobody can afford to miss:

Sure enough we eventually broke below the support line, and on the retest I took a short sell position. Vahid has taught us to move our stop loss when in a profit to follow the price so when it reverses (it usually does) we can take a profit. I did this and ended with just under a 1% profit. This all looks very simple so far but I guess I have been incredibly lucky. I guess in Demo we are more likely to be lucky though as we have much less emotion involved!

Very interesting day, (see chart below for the news effecting the price). We had some important news breaking 30 minutes after the US market opened at 09:30. The news was the release of CB Consumer Confidence.

Financial confidence is a leading indicator of consumer spending, which accounts for a majority of overall economic activity.

With the market still ranging sideways before the opening, Vahid explained that although the news was likely to affect the market, many big players in the trading arena are getting access to these reports earlier than the mass market.

Before the opening bell, Vahid was very bullish on the day and expected given steady rise in prices since 21st October to continue.

It was clear the big players were playing the coming news. Within a few minutes of the opening bell sounding, the market rose sharply for about 25 minutes. When the news was officially released, this stalled the market where once again we saw sideways movement for a while followed by more upside (SEE CHART).

Vahid explained that because of this news, he was not going to trade in the room. He was showing us the effect of the news last time when on September the 28th we could see clearly a big candlestick when the news broke.

With a 50 /50 chance of being on the right side of this news, it was decided to us on the side of caution while we all watched the price climb, exactly however as Vahid had predicted!

Vahid was conscious of taking a few trades recently a little early before the confirmation candles of a definite direction had played out. This happened yesterday where news events effected our trading negatively. So we all waited while Vahid who once again had predicted the general move 30 minutes earlier actually played out!

If you look at the chart below you can see the arrows where the market began to rise ahead of the news and then what happened when the news was released. Hindsight is a wonderful thing but the trend was up, the sentiment was up, the big players were moving the market up, and we should have traded the up!

The responsibility of having 40+ people eagerly waiting for a trade position is likely to affect us all, and Vahid is no exception. His methodology is sound and his prediction on the move once again correct.

Since we are all in Demo anyhow (or should be while we all grasp the basics) there is no real harm in trading independently of Vahid if he says clearly after a 10 minute session of analysis pre trading that the market is looking bullish in taking a position in the Demo account.

WHY?

We need to practice the activity of opening a trade position, being able to set a stop loss correctly, and the take profit position. Making sure our lot size or volume is correct relative to our $500 or so bank. In order to either lose our $10 or win our $10.

Once we are totally comfortable with the process of the market order and execution, then we really need to focus on how Vahid uses his insight and chart analysis to finally execute either a buy position or a sell position.

One important development though is the “TELEGRAM ALERT” WITH TRADES and opportunity of trade set up initiative.

I have downloaded the App on my phone and waiting for a link. I would suggest everyone do the same. When Vahid spots a potential trade set up in the charts, he can alert us in real time. We will then be ready for a break out or break through to potentially take a trading position once the set up is completed.

Vahid spoke about the time frames in the charts again. He wants us to use the 15minute and lower time frames for day trading. He made it clear that the 30 minute chart is not a standard time frame and very few professional traders would use the 30 minute time frame chart.

During the Q and A one member needed clarity on how to set the 2% stop loss and take profit position and Vahid showed on the chart how to use the slider from the opening position to drag down the stop and take profit orders. These lines have labels to tell you what your win or lose will be based on your lot size (or volume) If you are in doubt on this take a look at the replay towards the end.

Another very good session today. We learned more and more about market sentiment, the news and support and resistance lines.

More tomorrow guys and thanks for all the comments you are all so kind and supportive. I want to answer all these which I do read once I finish the choir video. This is taking MOST of my time right now, as does writing the reports daily from the ZOOM ROOM!

CB Consumer Confidence Breakout

5 1 vote
Article Rating
Subscribe
Notify of
16 Comments
Newest
Oldest Most Voted
Inline Feedbacks
View all comments
Chukwuebuka Ogudo
30 days ago

Thank you Andy

Ovie Peter
1 month ago

Andy, well done, you were able to
Do nice job on behalf of Vahid. We need you to continue like that and to see the progress of our luckscout community. Thanks to Mr Vahid and all the members of luckscout community.

Jackson Mugarura
1 month ago

Great from you Andy

Joshua Chan
1 month ago

Excellent Job Andy..we more need you in your skill to report detailed what should see on chart and what happened in zoom trading also precious lesson from Vahid our Guru..

Queen chibueze benson
1 month ago

Thanks Sandra for your support,you are a sister indeed

Ronnie Ho
1 month ago

Well done Andy your moderation on the day’s trading is very informative and concise. It’s good to know in the event when Vahid is not available to post the days report you able to do it. Good Job.

Jean-joyce Goedsir
1 month ago

You doing a great job Mr Andy ,Unfortunately last night I fell asleep and missed on the action ,but the good thing we have telegram to reflect back to and plus you report you are just as amazing as Vahid. Thanks so much

Eloise Taylor
1 month ago

Vahid,l love how you handle the trading sessions this morning.l was happy to hear you say you had already place you trade,later ,so you can focus on trading .Well we could see the big players is still playing the game.Thanks Vahid every day is getting better and better.

Queen chibueze benson
1 month ago

Thankyou so very much for these raw explanations which have really gone a long way helping me,well explained and analyzed ,it’s a great deal.am following up

Radouan Abderrahim
1 month ago

Thank you for explaining to us
The market was bullish whole day
We could make a lot money ?

Vahid Chaychi
Reply to  Radouan Abderrahim
1 month ago

You’re welcome!
Yes, several long trade setups formed.

Mercie Salima
1 month ago

Thank you Andy. Your summaries are so detailed that it feels like I was there with you guys. Will check the video as well. Thank you massively Andy and Vahid

Epifania E Zabala
1 month ago

Thank you Andy for this very informative report, this is a great help for me as I cant attend regularly the zoom due to time zone difference 11:15 PM on Guam. I appreciate also Vahid for his unselfish effort in making this community achieve financial freedom. I wish both of you more blessings.

Judy Sovran
1 month ago

Thanks so much Andy for your excellent summary of today’s trading lesson. I always take a copy of you notes and ad them to mine as yours are so much better and clearer. I also take a screen shot of your image to go with the notes so I can review them later. Great job Andy!

Sela Pauu
1 month ago

Thank you Andy I appreciate every thing you do to help us

Sandra Riyano
1 month ago

Once again Andy,thank you for a comprehensive but clear to understand report. You make things so clear that even my clogged up brain can understand what’s going on. You are God’s gift to Luckscout. Stay blessed ⭐⭐❤️

16
0
Would love your thoughts, please comment.x
()
x

New Report

Close