End of day review 3-4-11 Friday

It was a rough week my PNL was up and down a few times. I was busy with work so missed a few good trades today. I managed to end the week down only 100 or so. I learned a few things this week and i want to do a few post about them. But i have to run right now the beach is waiting for me. I will update later.

Pre Market Analysis 3-4-11 Friday

News: NFP @ 8:30AM, Factory Orders @ 10AM

Daily chart notes: ES has been moving up the past few days and is approaching the top of the range and down trend line.

MP Notes: Market has been forming value higher up in the past few sessions. We are getting to the top of the balance area and need to monitor for responsive sellers around there. We have a bullish macro structure with globex and need to be careful of follow through to the up side.

Trade plan: We had a balanced session in globex leading up to the release of the NFP number. Im not expecting much to happen until the release of the number so i will wait for that to hit the market and look at the reaction. I will be looking to be a responsive seller at the extreme area of 1334-1336 if we get a bearish report. In the case of a bullish report i will be more cautious about selling up here and will rather be a buyer above value after a break and retest. Over all I'm going to wait to see how the market reacts to the news and go from there.