Today was an unexpectedly exciting morning to trade Nasdaq futures CME_MINI:NQ1!!
I love trading false breakouts and this morning (November 1, 2022) provided double sided action where buyers and sellers battled it out. The one to break first was going to be the winner and today it was the bears!
My best strategy which I have been honing for years relies on these price spikes and today's action played out beautifully for both a reversal off the week's double top and a breakout to continue that reversal. By popular demand I am making this video demonstration to help traders learn to spot this unique price action. This action and opportunity does not come around every day but when it does it yields some Home Run wins (or as I call them... properly risk adjusted trades)!