Trading the NQ

This is a discussion on Trading the NQ within the Trading Journals forums, part of the Reception category; Originally Posted by Gring0 Price is extended quite a bit below the lower part of TC. Daily is also showing ...

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Old Feb 9, 2018, 7:50pm   #226
 
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Originally Posted by Gring0 View Post
Price is extended quite a bit below the lower part of TC. Daily is also showing a new down trend. I am looking horizontally to keep my head straight here and giving credence to the idea that the price has shot quite a bit to the downside and may recoil towards the median. It is debatable how valid the TC is after such wild moves out of it. Then again the night does look darkest before the dawn.
weekly channel
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Old Feb 13, 2018, 7:21pm   #227
 
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NQ hourly. One doesn't need to become a master of reading price action to have an idea about which direction offers better odds.
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Old Feb 14, 2018, 3:35pm   #228
 
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Price cracked through the demand line in pre-market hours. At the open the price is above the entry but based on one's sell rules some may exit and some may do whatever.
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Old Feb 28, 2018, 11:22pm   #229
 
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NQ vs ES

NQ almost approached the all time high but turned where it had turned before the larger drop, in the vicinity of 7008. On the weekly the previous trend channel's top is right above the 7008 area. It's an area I'd be keeping an eye on.

Comparing NQ to ES we can see that ES is not as strong as NQ. It has quite a bit of distance to go to reach its previous all time high, whereas NQ was much closer. Last trip around both ES and NQ were making new highs almost together. Something has changed and if ES doesn't show strength it would be another flag alerting us to not snooze around here. And also the DL break has occurred to show some potential change in stride.

TC top/Resistance/DL break/ES weakness = Something's afoot ... maybe.

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Last edited by Gring0; Feb 28, 2018 at 11:31pm.
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Old Mar 9, 2018, 4:28pm   #230
 
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NQ Monthly

NQ is approaching interesting price levels. 7047.25 was the all time high and it's close at hand.
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Old Mar 13, 2018, 5:41pm   #231
 
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dbphoenix started this thread The Q's perspective:
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Old Mar 14, 2018, 5:00pm   #232
 
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The Q's perspective:
DL breach on Q.
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Old Mar 23, 2018, 12:07pm   #233
 
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DL breach on Q.
I couldn't take advantage of this drop. A lot of action took place in the after hours and when the open came (QQQ) price wasn't at an optimal location from my price risk perspective. Maybe those who trade the futures had a better entry. Now I am a bit more cautious and slower to engage the market, yet this was an example IMO of the advantage of trading the futures.

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Old Mar 23, 2018, 1:09pm   #234
 
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I couldn't take advantage of this drop. A lot of action took place in the after hours and when the open came (QQQ) price wasn't at an optimal location from my price risk perspective. Maybe those who trade the futures had a better entry. Now I am a bit more cautious and slower to engage the market, yet this was an example IMO of the advantage of trading the futures.

Gringo
According to the SLA, the entry was below the low of the 20th, triggered the afternoon of the 21st. This represented a risk of 65pts in the futures contract vs less than two in the Q (using the minimums in each). You may have modified the SLA to entail a greater risk in futures than in the ETF, but, as written, the entries are the same.
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Old Mar 23, 2018, 3:32pm   #235
 
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According to the SLA, the entry was below the low of the 20th, triggered the afternoon of the 21st. This represented a risk of 65pts in the futures contract vs less than two in the Q (using the minimums in each). You may have modified the SLA to entail a greater risk in futures than in the ETF, but, as written, the entries are the same.
I had a tighter DL leading to 21st becoming a bit late for my purposes.
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Old Mar 23, 2018, 4:54pm   #236
 
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I had a tighter DL leading to 21st becoming a bit late for my purposes.
A "tighter DL" means trading intraday, and that's a different ball of wax. To gain the most from this, I suggest you apply it as written. Otherwise you risk missing the trade entirely.
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Old Mar 25, 2018, 5:47pm   #237
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A "tighter DL" means trading intraday, and that's a different ball of wax. To gain the most from this, I suggest you apply it as written. Otherwise you risk missing the trade entirely.
Hello DBP, what are your thoughts on this SLA entry in BTC?

Click the image to open in full size.

Happy easter!
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Old Mar 25, 2018, 9:34pm   #238
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Hello DBP, what are your thoughts on this SLA entry in BTC?

[IMG][/IMG]

Happy easter!
what about the bigger picture goto? (i have no interest in trading btc btw)

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Old Mar 26, 2018, 12:06am   #239
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what about the bigger picture goto? (i have no interest in trading btc btw)

[IMG][/IMG]
I charted the bigger picture on the longer time frame chart on the left, price appears to be finding support at the long term blue line.

Additionally, the 50% retracement of the most upwave is 10,000 USD so whether price finds support here or tanks is significant regarding the probability of a further upwave.
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Old Mar 26, 2018, 8:55am   #240
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I charted the bigger picture on the longer time frame chart on the left, price appears to be finding support at the long term blue line.

Additionally, the 50% retracement of the most upwave is 10,000 USD so whether price finds support here or tanks is significant regarding the probability of a further upwave.
ok my mistake, i thought your left chart was a shorter time frame. I see what you mean about the 50% but I thought the wedge shape I drew was also significant here?
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