The high volume node of 3224 for the time being is acting as resistance on the other side hvn of 3204 acted as support this morning. I t will be interesting to see where we go from here.
Pretty easy to see once the hvn support are of 3204 was breached as support the nq really accelerated to the down side, I circled what I saw as the best trades today!
There were times when longs would work with the trend being down all day I only circled the best places to short.
Here's what I saw today, my main focus is on trades in the direction of the trend, as of right now my system is generating too many trades although my objective is to take 1 contract off at predetermined price and let the other contract run and once my 1st target is met I move my stop to break even and if the stop is hit and the trend is still in the same direction I simply enter on a retracement.
In the afternoon the nq spent a lot of time in the 3134-3144 range so when prices moved too far from the midpoint of the range I felt it was a safe short with the middle of the range as my 1st target, again depends on your objective and if you want to take 1 off at a fixed price and let the rest run or if you want to swing the whole position its the traders own choice.
here are the trades from today on my demo. keep in mind I missed the open because of family obligations and I did not sit in front of the computer all day because of other things I had going on.
Here are some zones to keep an eye on Monday for support, these are zones where a lot of contracts were traded and would be a likely place for the nq to slow down or stop if we get a decline on Monday.3121-3146, 3144-3159 and 3186-3216, plus I drew the mid point from Thursdays low to Fridays high and it is 3159.