The day before a major economic data release the market usually tries to anticipate the number and front-run the data. I’ve seen this happen countless number of times . The CPI - Core Inflation data is scheduled to be released at 8.30 a.m. tomorrow and the market is anticipating a soft number in keeping with the trend, inflation is under control and the FED will start cutting rates sometime in 2024.
This happens with JOBS, FOMC and CPI. Something to keep an eye out for.
Today I started the day anticipating this. I let the indexes play out for the first 30 minutes or so, when it didn’t reach the ONL zone and started catching a bid, I waited for the cusp to form in the NQ and entered the moment price bounced off the 50EMA. I closed it out for a R2.25 profit for the day.
Finding ‘edges’ in the market is what this game is all about. You the trader need to find repeatable patterns that have a high probability of ending up as winners. Most veteran profitable traders have one or two core edges that they trade over and over using patience and discipline. They don’t complicate their trading like neophyte struggling traders do.