NAZ rejected at ATH 1st Fib level. Looking for O/N lift and rejection of POC and back below Fib Level and back to mid channel. Will update as we go.
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IDS50, Bullish most of the day. In zone for move in either direction with, looking for retest lower after slight lift.
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Note: For those that follow, after 3 years and nearly 500 Daily TV Post's, I will be ending the Daily Forecast & Intraday free service. I am moving to a private service that will use TradingView Charts, including my IDS Indicators. Message me if you have interest. I will continue some usual post's through the end of January or so, until new program is ready. Thanks for following and all your support.
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Many of you have expressed interest in joining my next level service, thanks you and I will be in touch. The chart below is the IDS50/20 dual chart. This will be included with training and ""how to use" real-time trading. You will need a TradingView account in order to use the IDS Indicators. I will also have support of Ninja Trader Software and Brokerage Services. Basically, the IDS indicator's and the Ninja Brokerage will set you up with a great system (IDS), Coach (Me) and leverage (Ninja Brokerage). You do not need to change you brokerage account, Ninja is hard to beat though ( ratios, day-trade buying power and additional software, if needed.) The chart below and the IDS system: IDS50 is late entry trend following IDS20 is early entry and Scalping. KL's are the next piece and how to use IDS. The White lines show IDS20 initiating both trades. 11880 Short (yellow vertical) was my call and KL with IDS20 confirming. Later, Short under "11940 after retest" (in Post) was the call with 11880 as long to POC (all in Post). With the system you can add double or triple contract size for "sweet spot" runs. Missing a 100 point runner is OK, if you can grab the 50 point retracement/pullback with double/triple the contract size. Just math and high probability price action. If you look for and try trading the "runner" from the best entry, you can look to IDS20 (be prepared for false signals). Each day will favor one setting over the other. Past 2 days have been IDS50 and this is very unusual.
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O/N update from above: 11983 is the level to watch and use as stop, 944 is next leg lower (lower high). NAZ above 860ish is Long trade back near 944. You can see that IDS helps with keeping you on the right side of trade. 940 was called as Short under yesterday and the NAZ has struggled to pass.
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IDS = Intraday System, combo of various indicators (on TV). You may need Pro/Premium in order to duplicate. I will have all turned into one, eventually and will build the same for Ninja Trader software and Ninja Trader Ecosystem.
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11940 is Top Channel on 30M chart, also. Nice when range and time based are in sync.
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IDS50 will not pick up narrow scalp trades. IDS20 below, Yellow is Long and White arrow is Short. This takes time and multiple try's as you will get stopped out. Once the direction takes off, look to IDS50 for what may be a runner. If you look at yesterday 10:20 am - 12 Chicago (yellow Box), you will see four 50 point Scalps that IDS20 picked up. This just extra opportunity that nobody talks about, everyday and can add up to more than the bigger move that most are looking/waiting for. Can you imagine a TV Author that would post Scalps and nobody would understand the math! The Scalps usually equal or exceed the Runner (and you can get that TOO).
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Diag TL, Strong Long hit/hold at 11821 and Strong Short below after retest from under. Other than that, NAZ will float higher but most likely not exceed Fib Level or near upper target. Scalp day in the range, I will be back later and out tomorrow morning. Expect After Hour moves for balance of week. The Prop Drop Offset (Monday) was a cushion to help offset some down draft that may follow. Open Session may resume back to Selling and watch the Push Pull.
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Careful on Long side, Seeing Push Pull for 1st time in many days.
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Long above 1st drop KL 820, target 11940 and Short at no pass.
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Diag TL is the NAZ Killer, 90% of the time.
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Just remember the 100 point run and take profit pattern.
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NAZ goes nowhere but does provide some points. IDS50 White is Long above KL and Yellow is Short after no pass at KL. We are entering into the DEAD Zone, so anything can happen.
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BTD and FOMO's may bail and down we go. Bottom of 1st 30M is target and big test for today. Typical DZ play. Now the SLOOOW Motion starts and harder to trade. May wait for 11940 break and retest from above, prior to Short. Or Short with stop at 11955ish. Again, DZ is random.
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And here it starts.
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11883 and 50 point rotation, play it until break out.
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Key Signal here, no drop will pop some.
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POC moved up, Head Fake or POP. DZ is Random and whips you out.
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SLOOOW PA, just agonizing. Usually will float slowly and wait for all aboard and then drop. Why I usually wait more in DZ. The float may turn into a runner, DZ Fun.
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ReCheck and here we go, Which way? Break at recheck and lower, hold and higher.
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DZ is Dead Zone. after 1st hour or so until final hour. Walking dead traders looking for scraps, stop clean outs and anything they can grab.
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Too Slow for me, back later.
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Under 11940, may see drop test scalp.
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11885 on drop test target.
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Almost
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The Drop test picked up buyers and now NAZ may pass 11940. Drop test trades are Entry to target with reversing trade with double.
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IDS20 for this type of day and IDS50 for Friday and Monday type. Like I said, IDS50 I have rarely used with NAZ as Scalping has been only play, for weeks.
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Recent sequence was 70 points round trip, see how they add up. High probability while you wait for the Runner. Early on, I spent many months staring at my screen. If that is you, you will break out only when you get fed up.
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Just painful. Nobody can make a decision.
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IDS20 has an M. Below 890 may be the one. Easy for NAZ to rotate around existing range, needs to break out. 11936 now.
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This looks like a Long MOP Up. under 11940 Short with stop at 11955. Worth the risk.
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Lower stop to 11940 or entry.
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Hit 92.
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Drop M F 'er. Hang Tuff here.
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No buy in, may see fake move here then drop.
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Should be safe as long as NAZ stays under 920
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Slow Fake, trying to clean out stops. 92 is key here. Stop management is the key to this trade. Anyway, NAZ needs to produce a 100ish point move by EOD. 12000 or 11800?
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O/N high was 11944, NAZ Rarely gets above and stays above O/N high. So far today that has been the case. May try again prior to Close. My stop is at 11950 or 15 above entry.
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May see drop by close with Pop in O/N with MSFT. Great Long set up.
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Just insane that 20-40 point trade takes this long. Market is so weak, not feeling the strength after Options Friday and strange lift Monday. Seems off or something.
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IF Zombie Traders have been holding this up today, eventually they will bail.
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11940 took 7 hits and no pass. That is actually a positive for the idea off break through. I just think a Drop/Pop is in play.
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Since 92 hit, Flat line, 2pm CT usually sees some selling 1st. DZ trading is random and usually does not work in order of normal flow. 15 point risk is OK, lets see.
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These closes are just so off. This will come down to final 5 minutes after all stops are cleaned on both sides. Upper done now lower.
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Zombies are bailing.
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Circle is Slop, needs to stay below.
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If I am correct, 11890 was Good Entry Short and the lift prior was a Clean Out. This happens all the time. When you think it is going, wait and the counter move happen prior to Good Entry price. I am OK since I got in at 11935. Even that is not safe in the Final Hour but higher than clean out high 11925.
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The other issue is that the 11890 clean out can turn into a rally higher is opposite direction. That did not happen yet, but may. DZ and Final hour are not good times to trade unless you have points or it is obvious. MSFT is now .42% lower, this is helping.
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11892, again. Should drop here if I was correct.
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M F'er, stubborn NAZ
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Will hold to close and Stop at 11920
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This explains the Slop and stop clean out. Retest 11890 is next and take profit near if you want.
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No retest is Rocket time.
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Stop at 11890 now.
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820 is Target 865 is support
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Stopped plus 45, here come bounce for drop/pop.
Trade closed manually:
Could of played it better, Final hour is sketchy. Expect big move in O/N with MSFT. I AM Flat.
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No Rally in O/N and lower we go. Horrible chart to trade today. If you made money you are on your way.
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NAZ with gains, only in the O/N or off session. Get ready for a drop.
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11895, NAZ stayed in Middle of Open Drive all day. Will retest, fail and drop.
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MSFT conference call may bring it down (CNBC). POP was not that big on NAZ. Much of their numbers of much lower on PC Software. Today was pretty narrow during regular session.
