NQ - Nasda Test/Retest, now down.
NQ had a phenomenal run-up since yesterday.
It was hard to find any sign of weakness.
In the 15 min. TF I found the correct Fork to apply that gives me any usable information about price.
1. The Shiff-Fork projects price to the upside, but also expose the fact that price fell out of the projection below the L-MLH.
2. Price stopped at the HVN. Or better, the Algos bought price at that level (violett line).
3. Price had it's first "Test" of the L-MLH, and soon after the second one, interfering with the TL from way above. Such "coincidence" I call "Confluence".
4. My Scalping filters, the Indicators also signaled that it's time to give it a go.
5. Finally I observed the Bid/Ask Volume and saw large order got thrown at the Bid. This is my ticket to ride and I'm short the market.
It was hard to find any sign of weakness.
In the 15 min. TF I found the correct Fork to apply that gives me any usable information about price.
1. The Shiff-Fork projects price to the upside, but also expose the fact that price fell out of the projection below the L-MLH.
2. Price stopped at the HVN. Or better, the Algos bought price at that level (violett line).
3. Price had it's first "Test" of the L-MLH, and soon after the second one, interfering with the TL from way above. Such "coincidence" I call "Confluence".
4. My Scalping filters, the Indicators also signaled that it's time to give it a go.
5. Finally I observed the Bid/Ask Volume and saw large order got thrown at the Bid. This is my ticket to ride and I'm short the market.
Note
Here's a better look at the whole idea:Note
Taking partial profit right before the market open.Trade closed manually
Aaand out.Note
Closed the position right before the news.This was just a quick scalp and was going OK for a Bread & Butter trade.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.