Dragon failure at 819, height is 8 pts. Was also SMA bounce on the cash... Edit: Drop stopped at 813, only 6 pts of the expected 8.... How it looked:
1. Test of opening range high, failed to breakout upside, leads to test of bottom of opening range - worked. 2. #1 is also test of PP from below and failed to go higher, S1 is in play. 3. 50% zone of yesterday violated at open, gap close probability is less than 50/50. I did my homework. Edit: short close to PP today is the safest play so far today.
Seems like I should have held onto my NQ short, it never actually did hit my stop above 1161.50. It was a case again of good analysis to get into the trade, a good entry and a mismanaged exit. I need to stop talking myself out of my initial analysis once I get into the trade.
You forget number 4. The t day crew loses a lot of power if a new low is made after 11 am. They work their magic best between 10:20 and 11. Last hope is 14 -16 on cash to hold.
Alright, here we go again. I see the NQ holding it's low of the day on that test and I'm long at 1156.75.
Agree. A decending wedge is in the making ... if 16 turn down, and flush into 10, S1 objective is done. No more reason to go lower. Maybe except the trend sell possibility ...
Stopped out of NQ at 1154.75, really having a tough time with this action today. I had my order to cover up at 1162.50 and it missed by a tick.