Welcome to NexusFi: the best trading community on the planet, with over 150,000 members Sign Up Now for Free
Genuine reviews from real traders, not fake reviews from stealth vendors
Quality education from leading professional traders
We are a friendly, helpful, and positive community
We do not tolerate rude behavior, trolling, or vendors advertising in posts
We are here to help, just let us know what you need
You'll need to register in order to view the content of the threads and start contributing to our community. It's free for basic access, or support us by becoming an Elite Member -- see if you qualify for a discount below.
-- Big Mike, Site Administrator
(If you already have an account, login at the top of the page)
I am banning myself to trade NQ during NY session altogether due to heavy loss today.
One of the reason is that it is difficult to get a good entry with a good risk reward in NQ as it is algo dominated instrument that it moves too quickly for me to get a good entry by using limit.
I have entered twice at market after failed limit entry. In both instances, I was fucked in my ass so hard that i won't be able to shit for the rest week i am afraid.
Hence the message for me is clear, no NQ during NY.
Instead NQ is quite tradeable during London.
Can you help answer these questions from other members on NexusFi?
1. Dollar refuses to back down this morning. After pulling back on Thursday, Dollar has simply range bounded to restore some energy. There are two scenarios at play this week -- a) deeper pullback to grab liquidity or b) range bound to store energy. Both scenario points to a higher prices by the close of this weekly candle.
2. Euro has taken out Sep low and is trading below last Month's VAL, hence the outlook is bearish. Euro has been trading below last week's VPOC since last Thursday, which means there is still pressure for more long liquidation.
3. It can't be clearer that the DAX is bearish since it broke down from the horizontal consolidation range last week.
Since the down side projection target has been achieved, we could anticipate some seller failure at this level so that a base could be built here to take a counter trend long. However, the intermediate trend remains bearish that we should always look for buyer failure for a big short position when it trade back into 12195 level.
The overnight and London session looks quite bearish for Dow so far.
Market attempted to lift at the fib retracement level of the Friday's after up swing, but failed.
That is like taking turns at the cross roads. Now the dominant scenario is to seek below the Friday's low to look for 127.2 and 161.8 expansion targets of Friday down swing.
Let's see how it opens today. But prepare for both bullish and bearish scenario mentally.
Either direction, the volatility is expected to be high, hence i am obliged to trade in ES only as the rotation size in YM and NQ would be too big for my stops.
ES got bullish reaction from the 78.6 fib level. It is still the market leader in terms of the compliance to the technical levels.
The message is that whatever how broken the technical picture in NQ or YM is, so long as ES is holding, the market is good to go.
Unpenetrable wall of liquidity at 92.75.
It is once again the 78.6 of the whole down move from the overnight session.
It is likely that ES is going to seek the 161.8 expansion of this down leg to complete a butterfly pattern.
Let us see.
Basically, so long as 93 level holds, i am looking at 2867 as the ultimate target of the down move.
Hi @shrekchenbin, I like your charts setup.
I also use the volume profile for intraday charts, on the 5mins. Will try your 100ticks setup..
How do you use it? I do use prior vpocs for support/resistance to scalp.
Very nice call for that 127 extension point, for the target bounce at 2866. Also use it, tho never looked at 161 for extensions, will do.
Redirect me to previous posts if I missed it, but how do you actually trade? scalp a lot while the expected move unfolds or just swing it with a position?
Thanks
Great work, keep it up!
Thanks for your comment.
I am glad that you like my unconventional chart setup.
I was trading the down move and scaled in around the target level.
But I was not able to managed the trade later into the evening as I had to prepare food and play a tennis match.
Hence I have set the take profit at the VWAP and completely missed the swing later yesterday.
The execution would have to be improved on my side.
Having a correct bias is one thing and have it correctly executed is another challenge.
