I kept on lowering my ask all the way down to 3285.75 but it didn't get hit and I didn't want to chase it.
Yeah it sucks, I asked for a 70+ point NQ rally to short into and it gave it to me, also into a likely distribution zone and I only scalped it. So, I can't complain.
Roger, yeah I think that's smart, it's late in the day and 3:00pm and 3:30pm are generally tough times to be short. I am about done for the day, back at it tomorrow.
I don't have hard math on it. I did some back testing over years of data a long time ago, but have not done it recently. Just found that generally around 3:00pm it was difficult to be short and around 3:30pm ish you could actually look for a long as market tended to be more up than down (clearly entry, exit and stop still matters). As with most things context of the market / larger charts helps as well. But even in the environment now, I don't like to be short around these times / end of the day. The downside reward isn't there often, but the upside risk of short covering is not only more likely but the upside moves can be really expansive further eroding any advantages to being short EOD.
Obviously one day means nothing, I am aware of that. But here's the example on NQ look at 3:30. 40+ point move in under 3 minutes.