Discussion in 'Journals' started by john99, Sep 28, 2006.
looking to fade this next up move.
I've been doing more studying of my setups. I will post some charts later on strategies, I hope to get some feedback.
Here is a chart of my outlook for setups next week on NQ based on fibs.
Here is a strategy using block trades as a signal . The green dots represent 70 cards or more traded on YM. This strategy is best on range days.
I'm expecting monday to be bearish, the monday following option experiation. Lets see if I'm right.
I'm expecting a big move either way in the next 2 trading days. Sox has NR7. NQ is strongest>ER2> ES, and YM is the weakest. YM at 38% fib and bottom of daily trend line. If SMH breaks 35.00 I'm expecting ER2 to go to 776 this week, NQ to 1780, Ym to 12210. If SMH doesn't break and NQ keeps up, I will be trading NQ and ER2 to the long side.
I will keep an eye on INTC, MSFT, & TXN.
TXN needs to break 30.5 for a good push up for NQ.
all support levels have been hit except NQ, currently at 1785. we got another 5 pts to the downside. If NQ keeps going, I'm expecting -123% fib extensions to the downside for er2 and ym.
edit: nq 1784 hit, er2 showing support at 776, ym Support at 12150.
Nice call and analysis John
Thanks, I don't have much profit to prove from it though. I saw the breakout at 785 on er2 but was hesitant to take it and wanted a retrace which never happened. So I entered late.
NQ just hit 1780, I'm expecting a bounce. YM now relatively the most bullish.
NQ tick just turned bullish, would look for retrace if it occurs. NQ @ 1785.
Expecting more downside action today. Looking to see 765 on ER2 today. I don't think ER2 will go more than 4pts up from the opening price today. We have #'s today, so I'm curious to see what effect they will have. 776 will be resistance on ER2. 1790 res. on NQ. YM is the weakest. I will only short today, and if no short setups occur, then so be it.
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