Trapping longs and shorts left and right, so maybe they got me. I think we're in a sell zone on higher time frames and NQ have been sluggish as hell for the entire session.
Easy money has been made, ATR is too small and not worth the risk. Also my account is small so I don’t want to get stuck with a drawdown into the closing hours.
I caught 182 MNQ points today. About 120 MNQ points if you factor in when I had more than 1 MNQ on(which wasn't that often today). Think I am done for the day too. Did not really enjoy the price action much today. Looking back it wasn't as hard to trade as it felt, but still wouldn't call it easy.
Stopped on that one. - 15. Prior to this trade I was long from 02 with an initial 10 point stop. When the market sold off from the Open for the 3rd time, I was convinced we'd finally head lower, so I scratched it at B/E and reversed short. Staying with my original trade would have been + 22 right now, so now I feel like a tool.
This action is tough, I been looking for the short cover rally all day (and we did kind of get one on NQ particularly). But they also pull it back a little more quick and vicious than normal... so really makes you question your analysis and the direction. Looks like another attempt here to force some shorts, seeing if NQ takes out the HOD (it got within like 20 points last time). EDIT: No current position on right now of any note. This short covering setup doesn't look as clean as the one we had yesterday. Too much chance of a rug pull here too. Currently just watching.
We are nearing the notorious X and had a 3 day rally. The next few days could be interesting from the shortside