We are short the Nasdaq from our post last night. We have set out stops and trigger. While this chart doesn't show it we hit our first target. We will leave stops in the same place and see if we can get Target #2. Stay Tuned
The bulls were squeezed hard on FOMC (and the day after). After many years of trading this is why we stay away from longer term trades until the dust settles. There will be more than enough opportunity to trade. Most of the indexes are at support or have broken their patterns. We expect a small bounce in the $NQ on Monday followed by more selling. An inside...
No further trades popped up this last week in the Nasdaq and we are 3 trading days away from FOMC. Aunt Janet will make the market move but it's a crap shoot as to which way. There is plenty of speculation surrounding the rate decision but do not get wound up in it. We will sit on the sides lines and see how the market closes after the announcement. Expect...
Ok...we are not perfect and make mistakes. Price touched our trigger zone and we failed to get short. Bummer! We like to see price get into the zone...but its not a hard fast rule. It would have been a great trade. However, we are now back into the flag range which confirms a failed breakout. We will look to get short on any moves to the upside. ...
The potential bear flag did not form as price shot up and finished the week strong. The $NQ is now at the major breakdown level. While we expect volatility to continue it does need a rest. We like a move back down this week. We are still long term bearish on this market and will keep an eye on the watch zone. A break down of the level could send us to the...
The $NQ chewed up support which made it non existent over the last couple of days. The $NQ could be starting to develop a bear flag. We will watch this closely. We are short term bullish but long term bearish for now. The swings are wide. If you "must" trade, reduce your size and focus on one maybe two markets.
OK...look at the charts and learn how selloffs work. We were looking for a pullback Friday and never got one. This market is weak and it is inflicting it's pain on people. The $NQ blew through support and is selling off again in the Globex session. We are watching the support area below for a trigger. The trade long will be for a bounce. The path of least...
The ES is moving slow and forming a nice flag. We have moved our stops up to further protect profits. If the flag breaks to the upside then we will expect the 2120 to get hit. With a good amount of economic news this week (including NFP) we will either get stopped out or hit our target. Either way it has been a good trade.
We are covering our final 3rd of the position. This was a nice kick today (thanks EU). We'll take it and go home flat the NQ into the weekend. We will look for a pullback to initiate new positions. Lesson: Patience! we waited on the sidelines for this to setup and it paid well.
Da bulls. We are long per our last post. We have hit out first target Friday and have pulled our stops up looking to the 4400 area for the next target. The third target will be open. Read past posts...if you were patient you were rewarded on this trade. Stay tuned
The NQ is getting close to firing off a long trade. We want to see a break and close above 4275 before we establish a position. This goes on the watch list.
Watch more on our Weekly Video Update: youtu.be
We are still waiting for the $NQ to find out zone around 4275. We like believe price will trade above it and if it does we will look for a trigger on a lower time frame to get involved to the upside. Patience will pay on this. Watch our video on this: youtu.be
