Hello everyone, I'd like to share with you todays NQ trading levels.
1: Market is still lower highs and lower lows. We want to go with the market sentiment so we are looking for sell opportunities today.
2: Our last high @ around 14155 is our key resistance zone.
3: If the market opens below resistance and stays in value area, we consider our first sell opportunity at the key resitance zone.
4: If the price goes below our support zone @ around 13870 before or right after market openging, we see another sell opportunity at our previous support zone which would be our new key resistance zone.
5: As the market sentiment is still bearish, we don't want to look for buys. However there is an opportunity to buy if price breaks our last high @ 14155. Therefore we need some bullish momentum and a nice and clean retest of the previous selling zone.
Please let me know your thoughs and if you like the idea.
Trade active
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Caught the retest after the break as planned in point 4 at 13863.25. Are we going to see another LL today? Maybe.. But our TP would be ydays low.
Trade setup in point 3 is now invalid.
The bullish setup in point 5 is invalid aswell. As we mentioned in point 5, the market sentiment is bearish. Thats why I did't look for buys first place. The odds were small anyways. However its very important to see the market from different perspectives and consider out all different possibilities.
Comment
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SL in profit. Just let it run now for the rest of the day until we got stopped out or reach our TP.
Trade closed: target reached
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Hit our TP @ 13606.50 for 256.75 points profit per contract.