S&P 500 Short — 2022-03-15

Traded the early 4H-FVG low as we we traded into the daily opening. I went almost 100 pips into profit but I didn't take the profit from that move and got stopped out. After being stopped out I went back in a heavier and loss that trade but at 3.54%.

Taking my initial trade, if it take me out, reassess the setup completely. This was a B setup for sure on this one and if it was ready from that area we would have ran for sure. I do prefer the FVG(MT) or the FVG(H) to trade from versus the low in a bearish market and the high in a bullish market.

Trading within wicks, I have to be strict with my SL as well, its not going to come back if it is ready! If its ready to go, the point where I move 50-100 in profits and I move my SL to BE, it shouldn't come back at that point.

All US red folder news was negative on the 8:30 releases:

8:30am CAD Manufacturing Sales m/m 0.6% USD PPI m/m 0.8% USD Core PPI m/m 0.2% USD Empire State Manufacturing Index -11.8

This is a likely push up in expectation that we get a drop on the Fed’s interest rate hike. This is needed in my opinion to keep prices from falling immediately lower as they should and allowing for the corrective move to the upside to raise the supply and demand levels.