Things I am looking at for the week and Pre-Market work for Mon, Aug 26, 2019


Pre-Market work for Mon, Aug 26, 2019










Weekly outlook for 26 Aug- 30 Aug …And trade plan for Monday 25 Aug 19
Welcome to the last week of trading for August. The ES opened August at close to 2988 and right now is trading at 2885.
This week appears to be heavy in trade related economic releases. So I think the media and talking heads on TV will be discussing the trade war almost all week. More than likely the discussions will all be negative from the US media perspective. So I think today’s US Durable Goods orders are pretty important market wise. This measures the orders and shipments of durable goods. Orders for durable goods are considered an important leading indicator. When these orders increase, it means the economy is improving and vice versa. So we will be able to see by the data this morning if we are being bullshitted by the media about the trade war because we aren’t getting anything out of China. Last month it came out at +2%. The forecast for this month is +.08% but I think it’ll be more like +1.8%. https://www.estimize.com/economic_indicators/united-states-us-durable-goods-new-orders/releases/jul-2019 Additionally the G7 summit ends today (Monday the 16th) So I am sure there will be some chaos coming out of that!!! Haha We will see how it goes though. Below are the significant news events that could move the markets for the week in my opinion.

Monday, August 26, 2019
08:30 USD Durable Goods Orders (JUL P) High 1.0% 1.9%

Tuesday, August 27, 2019
10:00 USD Consumer Confidence Index (AUG) High 129 135.7
Thursday, August 29, 2019
03:55 EUR German Unemployment Change (000's) (AUG) High 1.5k 1.0k

03:55 EUR German Unemployment Claims Rate s.a. (AUG) High 5.0% 5.0%

08:00 EUR German Consumer Price Index (YoY) (AUG P) High 1.5% 1.7%

08:30 USD Gross Domestic Product Annualized (QoQ) (2Q S)High 2.0% 2.1%

08:30 USD Gross Domestic Product Price Index (2Q S) High 2.4% 2.4%

08:30 USD Advance Goods Trade Balance (JUL) High -$74.6b -$74.2b

Friday, August 30, 2019
05:00 EUR Euro-Zone Consumer Price Index Core (YoY) (AUG A)High 1.0% 0.9%

05:00 EUR Euro-Zone Consumer Price Index Estimate(YoY)(AUG)High 1.0% 1.1%

08:30 CAD Quarterly Gross Domestic Product Annualized (2Q)High 3.0% 0.4%

08:30 CAD Gross Domestic Product (YoY) (JUN) High 1.4% 1.4%

08:30 USD PCE Core (YoY) (JUL) High 1.6% 1.6%
Trade plan for today is to trade my plan (OS/OB off of support or resistance) and not get suckered in. I’ll be trading 2 contracts on the ES for a 5 tick take profit per trade. But I will adjust if the market takes off in either direction. Also before I make a trade I am going to post on my chart why I am making the trade and where I am wrong in order to cut my losses. The bottom line is that I have to beat myself and control myself!!!! Will post results in the evening..Hopefully its a good green day!!!!
Here are my levels I’m looking at today:

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