BMW, Both NQ and ES are trading above Previous HOD, better off picking tops and selling into buying at highs for a scalp back to support, or wait for both to flip below previous HOD for a larger move lower.. Just a thought Edit, the reason i say this is because I notice you wait for price to sell off several points before entering short, meanwhile price is above Prev HOD
The play I am trying to make is off off Monday's high. We hit it, then penetrated and had no follow through. Not looking too good right now though.
Me too, I see sellers at monday's high firing off everytime we get up there. But if you agree with me that Previous HOD is a critical level, how can we predict that it will break below it before it actually does?
All I know to do is to trail a stop if it breaks from here and give it a chance to break yesterday hod. Still it could pop to new highs.