Trading on "Instynct" (NQ)

Discussion in 'Journals' started by Instynct, Nov 12, 2010.

  1. PACMAN1

    PACMAN1

    i'm going to start looking for this. that would have been a great trade if we would have gotten long
     
    #1471     Jan 25, 2011
  2. PACMAN1

    PACMAN1

    looking at my chart it had the signs of a reversal. on the 1000 volume i had a higher high and a higher low right before it took off.
     
    #1472     Jan 25, 2011
  3. Classic 2B reversal
     
    #1473     Jan 25, 2011
  4. PACMAN1

    PACMAN1


    yea thanks that is exactly what it was.
     
    #1474     Jan 25, 2011
  5. This might be a moot point to you guys but I don't think the market reversed because of a double bottom, higher high/higher low, or some geometric shape. I think it reversed because key levels were held, namely NQ's morning lows and ES Previous LOD. Even if price poked slightly past the low instead of forming a nice double bottom, as long as buyers step up and the price level holds, price will reverse no matter what kind of shape it forms.

    Regarding the lunch time fade, backtest it and you will see patterns in which there will be times where you can get a scalp or a large move, and there will be times when it is not appropiate. The only thing the 30 min window does is put some added probabilities on your side. It is merely a tool that the trader can use to his/her advantage after sufficient knowledge of that tool.
     
    #1475     Jan 25, 2011
  6. Another thing about this market is that so far there is nothing bearish about the hourly or daily charts on both NQ/ES. And this is just my humble opinion but big money focuses more on these time frames than the shorter ones. So when you put this in context it makes a lot of sense that they took it right back up.
     
    #1476     Jan 25, 2011
  7. S 91.25
     
    #1477     Jan 25, 2011
  8. out -2
     
    #1478     Jan 25, 2011
  9. L 93.25
     
    #1479     Jan 25, 2011
  10. out 91.25
     
    #1480     Jan 25, 2011