I am still following NQ closely. I find it most interesting of the instruments I trade right now.
You can see how NQ ended Friday at support. I exited my NQ position on Friday for an break even trade.
So what next? I have noticed in the past that when an instrument ends a week right at support or a resistance that chances are that it will gap up or down at the open. So I wouldn’t be surprised to see a big up or down gap. But we will see.
Short scenario
- if price goes below support this is a breakout (or breakdown). As I always say you can enter a sell trade on break of support for aggressive entry. But I will wait for confirmation of resistance before entry. This is safer way to go, but you also chance missing an entry if it doesn’t retest and just drops. But it is okay to miss a big move which happen sometimes. You can always look for other entry.
Long scenario
- if open show move up I will enter right away. Is this a aggressive entry or safe entry. I say it is a safe entry, because if price goes up then support is confirmed. It will retested support. But I will keep a close eye on an exit because we are in a general down trend.
You can see the profit targets and possible retraces for both long and short entries.
That’s it for now. Please drop me a comment and or give a thumbs up on me. I appreciate so much when people read my ideas.
I hope every one is a winner.
❤️ Ms Bunny
You can see how NQ ended Friday at support. I exited my NQ position on Friday for an break even trade.
So what next? I have noticed in the past that when an instrument ends a week right at support or a resistance that chances are that it will gap up or down at the open. So I wouldn’t be surprised to see a big up or down gap. But we will see.
Short scenario
- if price goes below support this is a breakout (or breakdown). As I always say you can enter a sell trade on break of support for aggressive entry. But I will wait for confirmation of resistance before entry. This is safer way to go, but you also chance missing an entry if it doesn’t retest and just drops. But it is okay to miss a big move which happen sometimes. You can always look for other entry.
Long scenario
- if open show move up I will enter right away. Is this a aggressive entry or safe entry. I say it is a safe entry, because if price goes up then support is confirmed. It will retested support. But I will keep a close eye on an exit because we are in a general down trend.
You can see the profit targets and possible retraces for both long and short entries.
That’s it for now. Please drop me a comment and or give a thumbs up on me. I appreciate so much when people read my ideas.
I hope every one is a winner.
❤️ Ms Bunny