NDQ finish in green?Community discussions
NDQ finish in green?
US100 Let's talk about what makes the checked and X'd high different from each other. This has nothing to do with what is going to happen. This is about what you can objectively say is different in each circumstance.On the checked high, that is a good short, it almost reached into the 25,850 supply zone. It did not touch the 4 hour 200 SMA before going up either. It did not bounce off higher timeframe key levels.
Okay it also did not have Dow or S&P drastically overperforming either. In fact the S&P and Dow were underperforming when Nasdaq was at 25,700ish last Wednesday.
This is not to say buy or sell here. This level, quite frankly, is not a good level to enter into the market at. You want to be taking those good entries at key levels and holding those trades. My long in MES is still open from 6700 entered last Friday at the POC of MES/ES's range.
This absolutely could be the high. We could just sell off for any reason. Technically I would expect more consolidation here in order to see this as the high simply based off of the daily and 2 day chart. The daily and 2 day did not tag and bounce from key levels to the downside on November 5 high. Where we are now it did.
As a trader you want to focus on all of the details that are objectively different. Meaning it is not my opinion that we went under the 4 hour 200 SMA last Friday and recovered the same day. When they say don't trade what you think, they do not mean don't trade what your strategy thinks. They mean don't trade how you feel it should move. My strategy is 100% about predicting where price will go next and so is every other strategy in existence. No one enters a trade hoping it moves into loss.
Just because it is possible that you could enter the market and make money does not make it a good trade. There are a lot of things that go into making a trade great to take. Where price is at relative to local highs and lows matters most. As I write this, you are 903 points from the last major low and 729 points away from the high. That means you can easily see that many points against a trade entered here in either direction just to match that high or low. It does not include the extra drawdown you could see beyond that high or below that low. Where you are entering the market matters very much. Not everyday has a quality trade. A quality trade for me in Nasdaq is a 500-1000 point move at the smallest.
USTECH100CFD Started a short position
NAS100 I just opened my ctrader to move my TP up a bit and it got hit lol. never mind good day today.US100 In case some of you are unaware of where Dow Jones is at. Minor discrepancies between the indexes is not a big deal, but when one is almost back at ATH that is generally important. The same way if one was just falling off a cliff it would likely be important. Like how Dow performed moving into Oct 10. The Thursday before was a full body red day after multiple lower highs all week.
NAS100 my advice on trading nas is that the sells just aren’t worth it gents.
NDX I knew this will not be a sell off bear day. Propably close green
NDX on 1H yesterday's NYSE open (first 3 H) session and today's sessions a bit of identical, we might expect similar continuationNDX The big buy bottons are unleashed now. The pump will come back.
NAS100USD any chances for short today