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Hi fellow traders here i present my way of trading ,like i said i only trade NQ futures it moves quite well
and the risk to reward is great love the way this instrument trends ,before i was used to trade crude oil
but i dumped it and stuck to just one instrument ,wich sometimesis a handfull..
Have been trading for many years i mainly use price action ,moving averages ,delta ,double to triple bottoms
i do both im a contrarian trader and trend trader too, if i see great oportunity specially near vwap ...
If you want to comment on my trading style and bring ideas you are very welcome!
Today got stoped out 2 times but at last the market reveresed ended up with 555
Waited for the market to settle once all odds are in my favor took the pullback long..
Why wait for the pullback ?
Well it gives you less probability market will stop you out as EMAs and vwaps hold lots of
limit orders is a natural measure so the odds are in your favor !
As you could see market never broke the pivot point ...
did a 12 tick renko chart to check the possible bounce of market
Here is support at its maximum expression ..
You need to learn how to draw before executing..
Analizing the nasdaq found a 100% extension from today.
Looking forward this week for a pullback this pattern in the past has been respected so i expect a reaction.
NASDAQ just hit a significant resistance from the trend channel i would be very cautious in day trading with big size
be prudent as the market sometimes gets wild ,use a number of lots that you can feel comfortable with and dont lose your shirt .. use a mental number on the stop that you can feel comfortable .
As i have learned from previous experience day trading can be frustrating at sometimes what i do is close the
platform or continue sim trading .TOMORROW IS ANOTHER DAY.
