NAZ will limited prop in O/N, 5 Long at 850 got stopped at 850 (I had stop at Buy). 850 and below is Danger Zone to 640 level. Previous drop was bought quickly and retested for a bounce. I expected the riggers to do exactly what they are doing and lift NAZ away from DZ (reason for 5 Long at close). Yellow line above (11074) is original YTD low, NAZ may Pop/Drop (like yesterday at level). Or we may see knee jerk with 640 test and Pop. Following yesterday Post, I think that yesterday was a Long set up for today and that is why the drop yesterday was slow and orderly. Today may be a 2 way should either target or near target stall.
Daily long Term Channel
Daily long Term Channel
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Yellow lines are KL's (key levels). The outer are Edge Trades and trading these in opposite direction has been working. Trade to KL then reverse after test and retest.
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DZ Edge Trade, Now you see why I was Long 5. This works every time. Stop was the only issue.
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NAZ at top channel. Keep in mind this is O/N, need to see how Open plays out.
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KL's, NAZ back to Tuesday High
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This is most likely a stabilize move and as I have mentioned "the NAZ gets most of the gains during O/N or off session". Danger Zone avoided again during off session, do you see the pattern? Not much to do here but wait for stall to drop moves while this works out during open. I will check in later. 843 KL to 11260 KL happened in less than 1 minute, look at Range Bar chart. RIGGED.
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You can see old MOP Channel with red dash as middle, any short would be under that.
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Current Pull Back to Support is 410, NAZ may PB to and Pop back up. A Short would be breaking level at that time and retesting from under to then go lower.
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NAZ tested 410, this most likely a PB test to top retest. Just watch the O/N High, that is the edge of "Air Pocket".
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I just doubt that they let this Prop Job turn today or even next few days.
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NAZ did test O/N high for pop. Only KL to watch.
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11464 is Top 1st 30M and will need to stay above.
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11273 is Bottom 1st 30M and may see drop test should NAZ get below 464 and stay or retest from under. This play and hold at 273 would confirm trend and rally for a few days.
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Should NAZ keep climbing with no retest then this is true Air Pocket that will come back for test in near future.
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Long with stop at 460 may be a play as it lifts raise stop.
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La Machines are like runaway trains.
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Box Bottom or Box Top of new Box.
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464 testing now.
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NAZ at YTD POC, real test here
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Shorting 5 at 11487, target 100 plus run.
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Stop at 11530
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Stop at 11490
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Just needs to break 464
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Ba Bye. POC Rejection #1. Stop at 470
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Stop at 460
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Stop at 450
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Stopped Plus 185
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464 retest and POC retest, play the Game.
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Getting real now, bigger selling should pick up near KL's.
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11400 is strong short.
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465 is No Short zone.
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KL 434 held, range is 434 to top.
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No pass at 464 is head fake dropper.
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You can trade the Kl's with stops just above. I do not type all my trades.
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Indicators are good but KL's are the best with trade set ups and targets.
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Battle Zone, I doubt that NAZ gets passed POC.
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650 points and only 100 are Open Points. Most of O/N happened in 1 minute, is that good or real buying activity or propping? Many get fooled and then trapped at fake levels going the wrong way. This continues to work and extend weak rallies in both directions. Like yesterday to today. Yesterday was fake and today was a bigger fake in opposite direction.
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POC test and potential rejection #2.
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Rejection #2 needs to pass 434 or 464 may bounce back up. No trade zone in here or mid MOP.
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IDS is showing that 11474 is a long. Sideways flat PA is not reliable. However this may play through POC.
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IDS just follows the trend with zero emotion or opinion, that is where we get conflicted. Big retest #3 is now with 2 hours to go, what another 2-3 hundred? Really.
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11500 Shorting 1 with 185 stop on points.
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H/S at 11500 with lower drop to develop right shoulder. Thinking 434 retest and bounce.
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Stepping out have stop 185 above and take profit at 11360
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Adding 1 Short at 11508 with stop 100 up. Stalling NAZ is a Falling NAZ, Normally.
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White arrow should lead to drop.
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NAZ really really being held up.
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I have never seen this.
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Stopped 0 loss from earlier points. + 40 on points.
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11621 is upper KL, 1 way and that is all you need these days. No normal flow.
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IDS was correct at 11474, wow. I/We need to stop thinking.
Trade closed manually:
POC is likely the retest zone. Today and these types of days are hard because we can trade in 2 directions and when the NAZ goes 400-500 points in a minute, we are left with much. IDS 35 with KL's. The 5 Long at close yesterday was the trade. The trade now is most likely a Short here for decent retest. The other idea is Long for balance of year, this may be a BTD everyday back to normal as the NAZ has had 3 near bottom tests.
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Box Chart and out of channel
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YTD POC, above and Top of MOP.
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BTW this is so typical when the NAZ gets near the Danger Zone 10850. These days do come back and retest some. The huge push is to keep it away from DZ levels as the price will pull back some. Looking at BTD plays for some time, much easier than whet we have been seeing or dealing with.
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Next trading day use KL's as targets and trade in direction change after the initial hit. Easy to say, but usually accurate.
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Just funny, a 1 minute 500 point pre open prop turns it all around. There was no whipsaw, just straight up as if EVERY (trader/investor) was on the same page. This is odd but we saw it a few times this year. Still no O/N major drop YTD. When I say RIGGED I am referring to these strange and always bullish moves.
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One last note: The NAZ generates 300 points a day and most days 300-500, today was 700 in 1 shot and 1 minute was 500 of the total. The Scalping 2 way will help with identifying that missing a big 1 way (1 minute) day is not an issue. We leave more points (everyday) than we can handle. Tomorrow will show 300-500 and Monday, Tuesday and so on.