In this video I show you how I used the Opening Range and Initial Balance indicator to predict price. There was one real opportunity today to catch the rally of the ES. The pullback to the top of the Initial Balance at 8 am PST was a textbook long entry. *** I may have said NQ in the video. I meant the ES.
A demonstration of previous day value area, fibonacci extension and price action analysis. Remember to use your stops and trade with a plan!
NQ 1 hour futures set up for a further decline. Interested to see what the night will bring for momentum. Overall, the EMA and MACD are in tandem with a slight short term downward trend. By the numbers: 1) MACD cross over down several trading bars/candles ago. Notice to the left the MACD has also dipped below the even/zero line indicating negativity brewing in...
The chart is part of our educational article "Trading the Elliott Wave Principle - Part 2."
The NQ weekly chart corresponds to the example of our educational post " Impulsive Waves Construction - Part 4".
Occasionally I will be slapping together a commentary about the days action on my favorite index and making a point to pickout the best entry of the day. This does not mean I take these entries. I simply point them out. These posts will be short simple and insightful. Notice the daily is bearish. We know better than to hold onto long positions. Over the...