- during the overnight session, the NQ traded to its highest high of this swing move: 1758.00...
- i liked this slight break to a new high, such that i was willing to raise my 1733.50 bid...
- shortly after 6 am, the NQ began selling off...
- after some morning errands, i returned to my desk and saw that the NQ had broken the 1740 pivot, putting in a 1737.00 low...i raised my bid from 1733.50 to 1737.50...
- i also noticed that during the sell off, the NQ never traded above the previous bar's high on the 15M chart (shown above)...i placed a buy stop just above the 8:30 am bar's high of 1740.75...
- if either the 1737.50 limit order or the 1741.00 buy stop order was filled, i would cancel the other order...
- at 9:01 am, i got bought in with a buy stop at 1741.00...
- long 1 NQ contract at 1741.50...
- the short term bearish topping behavior appear to have come to fruition...
- the NQ broke the next price pivot (1731), and dropped to the 200ma on the 15M chart...this was happening around a time pivot (10:30 am), so i entered another NQ contract at market (1728.25)...
- currently long 2 NQZ09 at 1734.63...
- not sure what my exits targets are yet...i am considering 1743.50 and 1746.50, but nothing is on the books yet...
***remember this is an illustration of what i am trading and my thinking...it is not a recommendation for you or anyone else to buy or sell this or any other security...trade at your own risk ***
Posts
No comments:
Post a Comment