NAZ had double top Thursday at TLX 15997 (Mid Box) and is now most likely targeting TLX 15194 or 15079. The most recent low of 15143 is in the middle of the 2 TLX's, very likely we test below prior to a next leg higher. Yellow Diag TL is your guide lower, NAZ should rotate around the TL as it declines. Use IDS to play intraday moves, set ups and such. TLX's in opposite direction and wait for the retest. Traders are not economists (block the noise), their timing is usually off. Just a thought/question: If smart money shifted Big Tech holdings, would though want Big Tech to go down or up prior to buying back in? If down, one play to push down these can be accomplish in low volume Overnight session. A 2% hit in Overnight is pretty serious. May see Drop/Pop but count on it. Will update as we go, should be a good one today.
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Her we have a Long set up at 312 TLX, stalling at 365. Look for short set up back to 321 or 280.
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Not posting as much today, just trade after you get confirmations and look for retests.
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Short at 65 did play out back to TL, you get the flow. Go get it.
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Battle happening now with last short to TLX as Long set up. This will play out for a bit and 394 - 321 is your range. Could also be deeper Short set up, look for confirms or you will get whipsawed.
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So far you should have 4 Scalps. Opposite direction TLX toward other TLX, NAZ has gone nowhere but just generated 200 "available" points. If you get 50-100 of those you are a Pro.
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Head Fake Signal, lets see if play out and it may not. More Sells than Buys at level.
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Head fake correct, this may happen. If not, go Long at 65 0r 70. Stepping away.
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Another Short Scalp, 321 no hold will go lower. Look at 10YN, Wow.
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280 hit and covering generated lift. I mentioned 65 as max lift, now under TLX 321.
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Dead Zone coming up. Expect rally selling.
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TL Bounce.
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In comments, you should of had Short at Open with Take profit at 280 and be Flat. You could of reversed at 280 with stop at the amount of points you made on Short. TLX 445 was 2nd target on way up of reverse from 280, 1st was TLX 394. In Dead Zone things get exaggerated. 10YN is way down, NAZ should come down. Here we go back to 321.
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Look for NAZ to retest 394 for a Short at no pass or stays under TLX.
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May see deep drop should lift stall.
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Short confirm near 445.
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Mentioned it, Rally selling.
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Short under 47, long above.
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Have to be quick to Scalp, 294 target and take profit.
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Long at white, Watch Ticks.
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Dead Zone, I am Flat.
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Careful on Longs, big selling may show up.
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No Confirm at white arrow.
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Still No Confirm, TLX 194 is likely.
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NAZ Under Yellow, you Shorts on White Bars. The 347 Note is holding true and the 321 Long is no good.
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Long at 290
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347 Test use stop 20 back, stepping away.
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Long should of been Long at 290 with bracket take profit at 321 and stop at 270.
Add Long at White arrow. Now stop at 290, risk free with previous profit.
Add Long at White arrow. Now stop at 290, risk free with previous profit.
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Shorts coming in from TLX, previous add could of been take profit at 321. Battle Zone and will range in here.
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Long developing
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Stepping away, Many hits at TLX from below, bullish.
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While NAZ stay above white lines, add Longs on Red Bars. Down below needs to stay above Blue Line. Mainly TT Squeeze. Add at 34 developing.
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Bingo
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Stepping away for 1 hour, this kind of looks like a flip in direction. It may get retested.
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See if this plays out
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Today I am playing counter trades, much more difficult. As you follow you will see that there are as many in not more points available with intraday movement and counter trades are required. Today the NAZ may drop lower, if it does not we will see a decent Pop. Long Set Up developing here, or not.
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On this chart the left side at 81, the buyers should take over. Looks very bearish so you need to wait this out. If it Pops, will be worth it.
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Long at 250
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The 290 set up with confirm bounced from 260 to 360, this is what I am looking here.
These soft declines create better trades when correct counter trading.
These soft declines create better trades when correct counter trading.
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Developing
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Correct candle, so far.
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Now if you are thinking short, reverse the Long when ready or confirm.
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This drop from 260 is a Long set up. It may fail.
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Expecting bounce off Diag TL.
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Bounce 67, 94 then 321
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If you are Long, try and stay with it. Add at 25. This PB is tetset set up.
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More points on Long than Short. Depending on entry. The tide may may turn since most of day NAZ dropping.
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67's just took profit.
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Pro's trying the shake out, NAZ has gone nowhere.
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This is it, wide stop.
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2nd Long Confirm.
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Need to see short covering.
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280 is stopping, tough level.
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Now adding at 67.
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Shake out complete.
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Dropping 1
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Stepping away, stay long above 40
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312 hit out, Comment earlier, failed long is deeper short. careful here, Flat.
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Short set up.
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Lower TLX Hit.
Trade closed: target reached:
NAZ closed on Lower TLX and the Diag TL was a guide lower.
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Looking at comments, you should be up 100 - 200 or more? Review opening and intraday set ups?? Great trading day, use the IDS/TLX combo.
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NAZ still following Diag TL and is at 15079 TLX. May be bouncing.