LONG NDX on touch of 6385 support level

US 100 IndexTVC

Description

⋅ Nov 21, 2018 2:57 AM

Levels of support/resistance typically produce a pop or bounce on the first touch.
There is an untested level of support in the valley around $6385

SETUP: This is not a prediction price will get to 6385. However, if it does, enter LONG.
I call this conditional trading.

ENTRY: $6385
Long position

TARGET: $6530
This is below a low that could offer resistance

STOP: $6306
This is below the lowest candle of the valley that should start the move

Trade closed: target reached

⋅ Feb 13, 2020 2:49 AM

Price bounced off the 6385 and went past the 6530 target

Support and Resistance Multiple Time Frame Analysis

Comments

ericsolan

⋅ Dec 19, 2018 10:13 PM

On December 17th 2018, it frontran the level I marked by a few points, but the reaction I expected ripped NDX up 300 points.
Successful trade, had you gotten in a little ahead of the marked level