NQ one hour time frame just broke the counter trend line bullish. As long as the market stays in the buy zone. I am expecting the market to push towards the +800 tick limit.
Josh...thank you for all your help. I am relatively new to trading. Can I ask a question ?
Why is the limit set at 12198.00? instead of the monthly up fib extension at 12199.50
Thanks
JoshuaMartinez
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@LeeMcD, Great question! When a fib extension is hit, We normally see the market U-turn, and sometimes it happens to the penny of the fib extension. So we like to take profits and exit just before the fib extension so the exit order is filled. (Sometimes the market will touch the limit but there wont be enough volume at that price to exit all the positions, so by exiting just before the target, it allows the broker to exit your position) Hope this helps!
ProjectSyndicate
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ok this is great, nice work, keep it up!
barcrazy
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Thank you Joshua, as this strategy works perfectly as I Hit Strategy 2 target by 2pm today!
Why is the limit set at 12198.00? instead of the monthly up fib extension at 12199.50
Thanks