I managed to take a quick a quick long scalp trade on the $NQ100 for a 4.6% gain
I will be posting both the screenshot from my broker's platform as well as the 5m chart below so that you can clearly see the levels laid out. (cannot post an idea below the 15m TF and my trade was taken on the 5m)
Entry @ 7182.85
Exit @ 7180.80
Good old indices.
Okay firstly, so looking at the weekly timeframe, we have a potential head & shoulders pattern forming which will allow the bears to take over the market.
Dropping down to the daily timeframe we can see we broke out of an ascending channel and currently we are retesting it. If we can close below the counter trend line, we should see downside...
Building a chart to identify trading opportunities with the Quant Rsi.
Here is a quick & dirty (and really ugly) chart as an example for setting up a trade or series of trades with QuantRsi.
Don't let the messy chart turn you off..., this is an overdrawn example to show all interactions. Also, once you set up templates for every timeframe in your drawing tools...
We generally use the S&P chart for stock and options positioning, yet the NASDAQ may be a preclude to a topping pattern here. Often we hear of wedge and triangle patterns that magically fore-tell of a breakout or correction. Yet we should be cautious on trading any pattern alone, as often they form randomly and by themselves can not be taken at face value. ...
The NASDAQ index has dropped down yesterday and creates a new fresh supply above, this supply also seems like a Quasimodo pattern, I'll sell at this supply At the first touch of the price, below, there is a great demand for buy position, I'll buy at this demand also at the first touch of the price, both levels are Relevant for intraday positions,
Ok i know this may seem far fetchewd and i really arent normally a doom monger but many things point to this, one Brexit, 2, USA Trade war with China, 3 MASSIVE debt of developed countries, 4, governments have not been able to get themselves in a position where they have the tools to boost the economy since...
Monthly: Resistance Level at 7195.06 has been broken and Daily candle closed above the Resistance.
Daily: Support found at 7250.24
4hr/1hr Buy at 7264.50 TP 7316.56, should candle close above TP 1, TP 2 target level is 7361.96