NQ1! Not one to BUY breakouts, but they do occur so its really a matter of when one should trade it.
The chart is pretty simple with the initial BUY point I'm looking at for the open/new week with potential for moves up as the breakout - STOP is approx 20 points. Great R:R.
If price moves lower, there are areas where better BUY's could present themselves. Overall, charts are telling me that we may close in on NOV'18 HI's.
I have indicated price level of 7070 as an area where my bias will change for the shorter term.
Looking at the similar levels to get long. There is a potential of a gap up in Globex.
ProSTrades
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@SviCapital, Wow, yes nice gap up. Will look for a fill and then back above last Friday's HI for an entry.
SviCapital
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@234Trader, I saw an article in WSJ about final stages of China deal earlier today. That recurring news had a potential to trick the Algos and it did. I will be looking for an entry.
ProSTrades
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@SviCapital, probably so. I’m not much on news events; purely technical. Though I do love anything as a catalyst in my favor :)
I see a continued short squeeze. Especially once we get above 7230/50
SviCapital
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@234Trader, understood. Let’s see if this breakout is going to stick. Otherwise I will be on the short side
ProSTrades
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@SviCapital, Same here. I'm ready to go either direction. 7230 or the gap area -- I'm trading to it and or trading from it.