NASDAQ100 RANGE CAN BE REALLY TRICKY HERE'S 16TH OF JULY PLAN.
NAS100USDSo trading nasdaq100 can be really tough especially when we get consolidations 80% of the time. This consolidations might be one of the reasons for lot of traders blowing their accounts because the market creates big fake-outs during the range.This is what I call "the mix". Now because it's a mix you need two plans:
1. What to do when the market breaks upwards.
2. What to do when the market breaks downwards.
If the market breaks upwards, you need to place your plan or target 20-50 pips above because usually fake-outs occur at this times and after 50pips it asserts itself.
NOTE: Give the market a 50 pip gap and never trade in its middle.
Now for todays plan, I have my R.W.FC here if I get a breakout upwards I can advantage of 10698-10777 before we go long and if downwards I take advantage of 10598-10500 before we can have the bears back. The middle is at 10650 which needs to decide avoid trading it at all cost.
Have a productive day today and remember TRADING NASDAQ IS RISKY AND RISK MANAGEMENT IS ADVISED AT ALL TIMES.
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