NQ discretionary swing trading:
- very powerful uptrend on the 60M chart, pullbacks to the 8MA have been buyable in hindsight, but after numerous days up without a pullback, i have been hesitant to enter on the long side during the uptrend...
- sideways on the 15M chart since thursday afternoon...pause before resumption of the uptrend or base that will break down soon??
- couple of quick scalps to the long side over the past two trading sessions within the base...
- my discretionary swing trading style does better during choppy, ranging, moderately trending periods as compared to power trends...
- NASDAQ internals are mixed...
- NYSE internals are bearish, but improving...
- NQU09 due to expire this friday...i am now using the NQZ09...
- the NQZ09 pivot in the low 1670's has been a good place to enter long (for me) over the past few sessions, with exits in the low 1680's...
- my bias is the NQZ09 is basing before a pullback within the longer term uptrend...with this bias, i am hesitant to enter in the low 1670's again, so currently looking to re-enter the NQ swing long at limit 1658.50 and at limit 1643.50...these levels might be raised if the NQZ09 breaks above 1688 and the internals improve...
vcm discretionary daytrading:
- monday mornings are tough...choppy, not a lot of follow through...
- watch out for gappers that may look good on a daily chart, but have sold off a lot on the premarket intraday chart (ARIA, S)...the first buy setups may fail...wait for buy setups on a higher timeframe...
Disclosure: Long ARIA.
***remember this is an illustration of what i am trading and my thinking...my trading plan may change without notice...this is not a recommendation for you or anyone else, to buy or sell this or any other security...***
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