NAZ got to within 25 points of TLX (red line). Strong Long above and under it may try lower target. Push pull and rally selling is back. O/N magic seems to be gone. The Limit down O/N may be the next surprise as we have not seen any this year. The flush out to lower lows would be bought for a decent pop higher. Back in tomorrow and will update as we go.
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NAZ hit, passed TLX by 15 points and is now 25 above. Look for retest and support for a Long to mid range.
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Range will be between 11840 and 11940.
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Previous Charts/Update
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Look for NAZ to bounce off 81 or 65, if you are playing Long retracment.
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Use 1840 as Pull Back and long above short below.
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TLX 11865 is now support
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11881 must hold, 11940 is target
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20 point moves and stalling, this may just drop on stall. Keep stop close.
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Mop around 920 to 840, stepping out.
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NAZ under top of 1st 30M, will try for bottom of 1st 30M for support test. Watch the Ticks at Key Levels.
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KL's are yellow lines, play the range.
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11858 is KL and no pass is a Short.
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Extremely jerky Price Action today, usually a Negative until the Close.
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White Is Long and Yellow Short
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The other play could be that the NAZ is testing both sides and may Pop. So no not Short at a Low.
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Looks more like a bottom Mop of Range. NAZ will not go lower.
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NAZ should try and break 65.
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65 Test.
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65 is TLX and Top of 1st 30M. Above may be hard.
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The KL's are setting up counter trades, immediately.
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Target Trade, just take profit at target.
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Slightest Divergence is creating counter trade.
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Same game plan. When O/N is lower the Open usually goes higher. Ehen O/N is higher the Open usually goes lower. These are offsetting tactics. The Open usually sells that O/N fake prop and this is why we are only 25% lower and not 50%. Why is the NAZ up today in Open? Makes no sense.
Trade closed manually
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Should be heading lower under 920. I am good and expect the final 10 minutes to be wild.
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White line did move toward upper target. NAZ will retest many KL's from Friday session.
Because it cannot just keep falling forever. I am longing bottoms today, closing at profit, then again, and again, made significant amount of points this way, and now going out. Last hour will be crazy anyway, so maybe not worth the trouble, probably will go long Monday O/N for nice short squeeze prior to next leg down.
jakslo23
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@jakslo23, but looking at it this might be also rocket up until the close, however, I kinda feel it would be too easy, and it can go either way. Don't get trapped, cause this might be jumping harshly, and have a profitable trading!