No problem, all good Looking to go long if we come back into the trading range. Again, looking for a 1min candle to break 2231.25 on decent volume.
Going to post some charts for you guys to get a better grasp at what I'm looking at. The 2 Red lines are the 30min opening range and the blue line is the close for the day. Here is the chart for monday. I entered 2197.50 Exited 2224.50. Now you can see i could have taken a trade around 2:20cst when we started to come down toward the range and bounce off. But i was too big of a pussy but i was happy with my 7 points for the day. Now keep mondays close in mind, throughout the week we're gona see some major support there
Here is Tuesdays chart. Once again Red lines are the 30min opening range, bottom blue line is Mondays close (2200), top blue line is Tuesdays close. As you can see after hitting mondays close after a quick 5-10min selloff right on the opening, we bounced and ran 50 points. Would have been nice to catch those I caught 2224.75 to 2239. The reason for my entry being so late off the 30min break is how quickly it broke the range, usually you like to see a couple tests of the top of the range then a break. Sometimes breaking it right out of the gate leads to a weak upside attempt (little did i know we would be up trending for the whole morning)
Wednesdays chart. Red lines opening range Top blue line close from Tuesday Bottom blue line close from Wednesday Top green line is Tuesdays high (another critical point) Ok so Wednesday's opening range breakouts did not suffice. As you can see it failed twice. I took the first breakout and lost 2 points. For some stupid reason, i didnt mark tuesdays high on my chart and totally missed that big resistance point up ahead right out of the breakout. (I wrote down in my personal notes in all caps, "MARK DOWN PREVIOUS DAYS HIGH AND LOW DUMBASS!) lol As you can see it provides a big resistance point, which for the future will tell us, not to take trades out of the ORB with such a big resistance up ahead. Now a trade i could have taken, but didnt was the break on the lower side of the opening range. At that point in the day i stopped paying attention closely to the market, but as you can see would have also been a nice trade
Sorry for the small charts guys, ill try to fix that with this one. Thursdays chart Red line is top of OR Blue line acts as bottom of OR and Mondays close and tuesdays bottom opening range, which bounced off of and ran 50 points. So we are looking at a pretty big support here, and look at what it did on Thursday. Green line is Tuesdays high and also the resistance for Wednesday's range, so we're looking a pretty big resistance there. Top blue line is Thursdays close So on this day we break the OR, trade a which I took and made 2 points, came back into range, bounced off critical support and ran the rest of the day, I took the second break of the OR and caught 2212.15-2222
NQ is hanging around 2200 for now, my guess is we'll chop around this area for the rest of the night until tommrow
Thanks BMW Opening range established 2225.25-2210.25. Looking for 1 min bar above these levels on decent volume
Price action is very choppy around the top of the OR. Keeps stalling everytime it makes a new high. No trade here