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US NAS 100

1/22 Weekly Plan. ES Futures March NQH24 Weekly Pivot is 17,3901/22 Weekly Plan. NQ Futures March ESH24 Weekly Pivot is 17,390 Targets 17,480 17,625 17,770 Targets 17,270 17,158 17,022 Now trading at 17,563 (between uT1-2) Alerts You will receive alerts in this channel every time NQ hits (2M candle close): Weekly opening 17,466 Weekly pivot at 17,390 Each weekly target. Side notes NQ is currently OTFU in all timeframes (D-W-M), daily which would come to an end if 17,166 is breached during RTH session.
CME_MINI:NQ1!
by dhjesus
Ichimoku Kinko Hyo - The Most Underrated Indicator (e.g. NAS100)Welcome to my first educational post. This is a big one, Ichimoku Kinko Hyo is the most underused, underrated, least understood and yet most powerful trend indicator available to the general public. I'll first briefly describe the 4 components: - Tenkan Sen (turning line): it's like a small period moving average but calculated slightly differently. So if price breaks it, it's a first signal of a trend reversal but always wait for the retest. - Kijun Sen (standard line): it's like a larger period moving average but like the Tenkan it's calculated differently. One interesting note is that when it flatlines it represents the 0.5 fib level of the current range. Together, they are used for crossovers just like classic moving averages. - Kumo (Cloud): which is composed of 2 special moving averages called the Senkou Span A and the Senkou Span B. Generally serves as a support/resistance zone and is also subject to crossovers that can confirm reversals (not signal) since it is too slow to signal them. The thicker the cloud the stronger the trend and vice versa. - Chikou Span (Lagging Span): Mirrors current price action 26 periods in the past. In simple terms, it puts things into perspective and can detect potential blocking points for price. Here is a case study of the NAS100 and monthly Ichimoku: What do we see? (Follow the steps) 1) Price breaking the Tenkan and retesting it twice. This is already a major bearish signal. 2) Following the Tenkan break, price doubled down and broke the Kijun + retested it TWICE! A strong bearish confirmation that the downtrend will continue. 3) The Tenkan/Kijun crossover, this is like a death cross of MAs (look it up). 4) This is a reversal signal. You'll notice how price never touched the cloud again. The monthly Ichimoku really puts things into perspective. It really enables you to see the bigger picture and that it is okay to buy in a bear market. You just have to let it guide you. 5) First confirmation of the reversal: the break of the Tenkan + retest. 6) Second confirmation of the reversal: the break of the Kijun + no retest was even needed. 7) 'Golden cross', the Tenkan/Kijun crossing over which is the third confirmation and that price is simply extremely bullish. 8) The Chikou Span breaking past price. This is similar to price breaking a resistance level, it gives the same kind of signal. This is the final bullish confirmation. This a very summarised explanation of how the Ichimoku Kinko Hyo indicator should be used BUT if you want to learn more about it, I strongly suggest you read the book by Karen Péloille: Trading With Ichimoku, A Practical Guide to Low-Risk Ichimoku Strategies. As always, have a lovely Sunday and happy trading! ;)
FX:NAS100Education
by Lexi_Is_Trading
3
Nasdaq Intraday Review – Friday 19 Jan 2024I trade Nasdaq intraday exclusively Trading in GMT time zone Sharing my post day review & analysis in case it can help you :) Did my analysis at +- 5:20am. At time of analysis I noted the following: The early morning bulls had pushed up significantly. This means that my bias would definitely be bullish and that I would look exclusively for a buy. Exclusively bullish because market broke the purple downtrend line and also the previous all-time high level. I had a small runner open from yesterday’s position (runner = 10% of my original position size). I noted the weakness in the price action at C. and the 4H red doji candle close at 7am GMT, I thought market would retrace and maybe test the previous all-time high level (marked in green) before reaching to the top of the Day ascending triangle (at B.) Unfortunately I closed my runner at C. and waited for a nice re-entry. For my trading style, no re-entry signal was given….bulls just pushed straight up. There was a small double bottom on the 15min TF, but I did not feel confident enough to enter a buy based on this alone. Ideally I would have liked to keep my runner open to grab those extra 1000 pips. I closed my runner at about 2600 pips profit, which isn’t bad, but 3600 would have been better! Weekend starts now! Hope you caught the buy! TF = timeframe TP = take profit 1H = 1 hour 4H = 4 hour D = day W = week M = month S&R = support and resistance EMA = exponential moving average
PEPPERSTONE:NAS100
by Jinxx84
NASDAQ to continue in the upward move?NAS100USD - Intraday The 261.8% Fibonacci extension is located at 17117 from 16568 to 16773. A Fibonacci confluence area is located at 17184. There is scope for mild selling at the open but losses should be limited. Previous resistance, now becomes support at 17000. The medium term bias is neutral. We look to Buy at 17000 (stop at 16900) Our profit targets will be 17250 and 17290 Resistance: 17117 / 17184 / 17200 Support: 17000 / 16902 / 16801 Risk Disclaimer The trade ideas beyond this page are for informational purposes only and do not constitute investment advice or a solicitation to trade. This information is provided by Signal Centre, a third-party unaffiliated with OANDA, and is intended for general circulation only. OANDA does not guarantee the accuracy of this information and assumes no responsibilities for the information provided by the third party. The information does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit. You accept that you assume all risks in independently viewing the contents and selecting a chosen strategy. Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, Oanda Asia Pacific Pte Ltd (“OAP“) accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore customers should contact OAP at 6579 8289 for matters arising from, or in connection with, the information/research distributed.
OANDA:NAS100USDLong
by OANDA
NAS100 & SPX500 - WHAT IS HAPPENING TODAY? (CONFLICTED)We are at a pivoting point in the markets, everything seems to be bullish and yet I have this bearish itch. Markets seem to be overpriced, notably the NQ. However the S&P500, has had a healthier correction and the continuation of its rally makes more sense. Since both markets are highly correlated, it would be absurd to short the NQ while the S&P500 looks so bullish. Why do I want to short the NQ? Technically it hasn't retraced as sanely as the S&P500 but that may be the nature of both markets. The NQ being more irrational (more speculative) than the rest, especially with the AI craze. So here's my two cents worth on the matter! What is on the charts? (follow the steps) 1) Highs that wicked many times in the daily bearish FVG. 2) Significant high that as I'm writing this has been taken out. 3) The retail sales session that took out lows and this is also what has me question the rally. If it is supposed to be bearish info why isn't price dropping? These are the reasons why I do not trade on certain days because I do not see clearly all the time. 4) Asian session lows, a great target for shorts. 5) A retest (or break of the daily FVG). I am not a breakout trader which is why I am not focusing on the bullish outcome because I couldn't tell you how to trade it optimally. 6) The bearish structure (that may never present itself). This all depends on the S&P500, for me to accept a short I need that double confirmation. So right now I accept everything as bullish unless shown otherwise. 7) Asian session lows taken out. 8) Finally the healthier correction that I'd want for the NQ to accept a more bullish approach. As always, happy trading everyone and have a lovely day! ;)
FX:NAS100
by Lexi_Is_Trading
Nasdaq Intraday Review – Thursday 18 Jan 2024I trade Nasdaq intraday exclusively Trading in GMT time zone Sharing my post day review & analysis in case it can help you :) Did my analysis at +- 5:20am. At time of analysis I noted the following: A double bottom had formed on the 1H and 4H TF. When market patterns form on both the 1H and 4H TFs, we have multi-timeframe confluence, and this is a very powerful confluence on Nasdaq (so always keep on eye out for these). The 1H double bottom had already broken the neckline by the time I did my analysis and rested the neckline at A. I was waiting for 4H to also break neckline with a candle close above the 4H market pattern neckline and a break through 20 EMA. I noted that the temporary orange down trend line had already been broken by the early morning bulls. The 1H candles were already closing above 1H 20 EMA The 30min 20 EMA was acting as dynamic support Pivot point was already below the candles and had also been retested at B. Fib: market had reached down nearly to 0.50 retracement level on D TF and now moving up All this combined, indicated that bulls were in the market. I entered a full position buy at C. Confirmations – Market Pattern: Double bottom on 1H and 4H TF had the necklines broken. Also on the 15min TF you can see a triangle chart pattern (consolidation pattern) which was broken to the upside. Candlesticks: None specifically but all 4H candles had been green since the early morning, indicating bull momentum Trendline: Temporary orange downtrend was already broken earlier in the morning S&R: candles were above 1H 20 EMA already and break of the 4H market pattern neckline also meant candle closed above 4H 20 EMA, so 4H 20 EMA would not be a resistance. Mental stop was placed below the pivot + 20 EMAs, because if candles started closing below this point then market would sell. You can see the doji’s on the 1H TF where buyers and sellers were fighting it out to determine if yesterday’s neckline would hold again today. Market pushed up and we are now at all-time highs again! :) I took partial profits twice at E. because this was the downtrend line (shown with the purple line) that was respected numerous times before. Also E. was roughly the same distance as the height of the 4H double bottom (indicated by the black line at F.). So chances were great that bears would step in at this point and the fight between bears and bulls can be seen by the candles / price action on the 15min TF. Eventually Nas broke to the upside and market is currently (at time of writing this) +- 2200 pips from my entry. Hope you caught the buy and making some good MONEY! What could I have done differently: It was a perfect day…wish everyday could be like this! Just want to say, that learning to trade was / is the hardest thing I have ever learnt to do (and I say that as a qualified Chartered Accountant). Don't give up on your trading dream. Some days are so good (like today) and other days are so so SOOOOO hard. Keep learning, keep growing, keep working on your mental game....it will all be worth it....just don't stop! :) :) TF = timeframe TP = take profit 1H = 1 hour 4H = 4 hour D = day W = week M = month S&R = support and resistance EMA = exponential moving average
PEPPERSTONE:NAS100
by Jinxx84
Nasdaq Intraday Review – Wednesday 17 Jan 2024I trade Nasdaq intraday exclusively Trading in GMT time zone Sharing my post day review & analysis in case it can help you :) Back from a bit of a long weekend! Did my analysis at +- 5:20am. At time of analysis I noted the following: Nasdaq had been moving strangely since CPI. Consolidating on the D TF with very long wick candles and doji’s forming. But the top wick’s of the day candles are adhering to a downtrend line. I noted that the bodies of the candles were closing lower on the 4H TF (point A. on 4H TF vs. point B on 4H TF). Market had pushed down heavily in the early hours of the morning. The line chart of the D TF showed a double top (neckline marked in darker blue). The 4H TF showed a double top (neckline marked in green). The 1H TF showed a head and shoulders pattern with an upward slanted neckline (marked in turquoise). All these bearish patterns, together with the D candles (showing loss of momentum of the buyers) indicated a very bearish mood in the market. I entered a sell at C. – Confirmations: Market Pattern: Bearish Patterns on 4H and 1H TF. C. represented a break in the neckline of both these patterns. Candlesticks: Red candles on 1H and 4H TF the whole morning till that point in time. Fib: None Trendline: None specifically. But the 4H TF candles closing with lower highs gave me a very rough trend (point A. vs point B. as motioned earlier) S&R: Candles had moved below pivot point and below the 1H and 4H 20 EMA, so dynamic support was broken. Point F. can be taken as a retest of the pivot and the 1H EMA which broke bearish. Mental stop was placed above the pivot point marked with a thick pink line. Market moved down quite rapidly and I took partial profit at D. because the 4H EMA was at this point and together with the 1H 200 EMA, I thought this might cause the bulls to step in. Took more profit at E. because of the 1H doji candle close and also because price had travelled down the full distance of the height of the market pattern of the 4H double top. So market was bound to retest the neckline from here. I kept a small portion of my position open just in case market turned bearish before the neckline but ultimately I was taken out at entry. After this trade and after having made some good money for the day (market had moved about 780 pips in my favour). I decided to not trade again based on how strangely market has been moving these past few days and that I should be happy to have caught such a good move. But, and here was my lesson for the day, there was a bigger and better move in the works. Price came back to test the neck line of both market patterns and then moved down again. Maintaining my discipline and respecting my decision not to trade again today, I entered a sell at G. on my DEMO account. Confirmations - Market Pattern: Retest of the neckline of both market patterns on 1H and 4H TFs Candlesticks: Red doji candle close on 1H TF Fib: G. was at 0.50 Fib level (fib drawn from swing high at B. to swing low at H.) S&R: Doji closed below 1H 20 EMA and also the 4H EMA Ultimately the move down was +- 2000 pips. So although I am impressed with my discipline of sticking to my decisions…I limited myself and lost out on a massive move. Over trading is one thing. But if Nas throws out 2 great opportunities in a day then be smart enough to recognise that this is not overtrading, but rather just taking advantage of what market has to offer. Don’t limit yourself and decide, like I did today, to take advantage of one opportunity and be done for the day. Nas can put out multiple opportunities in a single day and on other days, market is nothing but choppy. Take a moment to reflect what you define as over-trading and how this is different to taking advantage of multiple opportunities. Hope you caught the second sell! It was an easy trade….wish I had taken it with real money! What could I have done differently: Be discipled enough to avoid over trading but smart enough / flexible enough to go against my decision when such a great opportunity presented itself. Also the gap down on the 15min TF was COOL! :) TF = timeframe TP = take profit 1H = 1 hour 4H = 4 hour D = day W = week M = month S&R = support and resistance EMA = exponential moving average
PEPPERSTONE:NAS100
by Jinxx84
NAS100 - MY INTRADAY ANALYSIS (TARGET 16630)Here I'm trying to change things up with a smaller timeframe (15min) analysis because the daily is nice but how does one trade that? Well here you have it. What is on the chart? 1) Yesterday's session low, aka sellside liquidity, that hasn't yet been taken out which gives us a juicy target for the day. 2) Yesterday's consolidation that gave the upper hand to bulls in the AM session but now it serves us for our bearish bias of the day. 3) Price wicking once more in the daily FVG and not taking out the high. Great news for bears. 4) Price retraced back into the reload zone (0.702 notably) and furthered its descent into bear territory. 5) Bearish 1 hour order block. Will be used partly for our entry coupled with the fibs. 6) London session lows that will also serve as a target. When there's an accumulation of targets it increases the probability of success when placing a trade aiming in that direction. 7) My ideal entry. To your own discretion, I can afford losing 1%, can you? (affording something isn't just monetary can also be psychological. Can you cope with losing your money once more because of the idea of a stranger on the internet?) 8) The outcome I'm looking for. If we're going for a bearish scenario this is what should (I want to) happen. NOTE: Retail Sales data release 08:30 NY time. Could make it or break it. Happy trading and have a nice day! ;)
FX:NAS100Short
by Lexi_Is_Trading
2
Charts believed to influence the coin marketHello traders! If you "Follow" us, you can always get new information quickly. Please also click “Boost”. Have a good day. ------------------------------------- (IXIC chart) Among the charts that are considered to have an impact on the coin market, the most referenced chart is the NASDAQ index chart. (NAS100USD chart) However, since the coin market operates 24 hours a day, you usually see the NAS100USD chart, or futures chart, rather than the IXIC chart. Since NAS100USD has just renewed its new high (ATH), it is not easy to predict its future movements. (1M charts) Accordingly, future movements should be predicted through the Fibonacci retracement ratio. If you think it has an impact on the coin market, the NASDAQ index chart must maintain an upward trend in order to maintain the upward trend of the coin market anyway. -------------------------------------------- (DXY chart) Among the charts that are believed to have an impact on the coin market, there is also the DXY chart. If DXY maintains an upward trend, it can be interpreted that the investment market is slowly slowing down and is likely to enter a recession. Accordingly, if it rises above 105.873, it is highly likely that the investment market will enter a recession. I think it should be maintained below 102.089 for the investment market to become active. Therefore, if DXY rises, it can be interpreted that the coin market is likely to decline. Conversely, if DXY falls, it can be interpreted that the coin market is likely to show an upward trend. ---------------------------------------------- (XAUUSD chart) I think there are many people who see the XAUUSD chart as having an impact on the coin market. If XAUUSD maintains an upward trend, it can be interpreted that there is a high possibility that the coin market will also maintain an upward trend. Conversely, if XAUUSD shows a downward trend, it can be interpreted that there is a high possibility that the coin market will also show a downward trend. (1M charts) Since XAUUSD is also updating the new high (ATH), it is necessary to make predictions using the Fibonacci ratio. ------------------------------------------------ I don't think it's a good idea to predict the trend of BTC through the charts above, but it's better to check them only as a reference because they are likely to have an impact if many people refer to them. In order to know BTC price changes, that is, trends in the coin market, you must ultimately understand the flow of funds. This is because it is highly likely that the trend will ultimately be determined by whether funds are flowing into or out of the coin market. Therefore, the charts that should be considered more important than the charts above (IXIC, NAS100USD, DXY, XAUUSD) are the USDT and USDC charts. Stablecoins such as USDT and USDC will play the main role in moving funds. Among them, USDT can be seen as having a great influence on the coin market because it has the largest number of trading pairs supported by exchanges around the world. Therefore, it can be interpreted that if USDT continues to maintain its upward gap, the coin market is likely to show an upward trend. When you trade in the coin market, a candle is created on the USDT or USDC chart. I believe that when funds flow into or out of the coin market, a gap occurs. It's a good idea to understand these points and look at the charts. No matter what you refer to, the trend will ultimately be determined by whether you receive support or resistance at the support and resistance points on the chart of the item, coin, or token you are trading. Therefore, before looking at the charts above, you must have marked support and resistance points on the 1M, 1W, and 1D charts of the chart you wish to trade. Since we are traders, not analysts, we only need to create a trading strategy and trade using the support and resistance obtained through chart analysis. Anything more than that will only end up influencing your subjective thoughts and creating trading strategies in the wrong direction. Have a good time. thank you -------------------------------------------------- - The big picture The full-fledged upward trend is expected to begin when the price rises above 29K. This is the section expected to be touched in the next bull market, 81K-95K. #BTCUSD 12M 1st: 44234.54 2nd: 61383.23 3rd: 89126.41 101875.70-106275.10 (when overshooting) 4th: 13401.28 151166.97-157451.83 (when overshooting) 5th: 178910.15 These are points that are likely to encounter resistance in the future. We need to see if we can break through these points upward. Since it is thought that a new trend can be created in the overshooting zone, you should check the movement when this zone is touched. If the general upward trend continues until 2025, it is expected to rise to around 57014.33 and then create a pull back pattern. 1st: 43833.05 2nd: 32992.55 -------------------------------------------------- ------------------------------------------- ** All explanations are for reference only and do not guarantee profit or loss in investment. ** Trading volume is displayed as a candle body based on 10EMA. How to display (in order from darkest to darkest) More than 3 times the trading volume of 10EMA > 2.5 times > 2.0 times > 1.25 times > Trading volume below 10EMA ** Even if you know other people’s know-how, it takes a considerable amount of time to make it your own. ** This chart was created using my know-how. ---------------------------------
OANDA:NAS100USD
by readCrypto
NAS100 - MY BEARISH SCENARIO (TARGET 16500)What are we looking at? 1) An all-time-high (ATH) to end 2023 with fireworks and champagne. 2) A sneaky daily bearish FVG that we know is relevant thanks to step 5 and 7. 3) A retracement creating a range that ends on the notorious 0.618 fib level (weekly fib). 4) The continuation of the general trend, price pulls back into the range and creates a daily bullish FVG. It is indeed plausible that price does continue and forms a new ATH but for arguments sake, I prefer the probabilities a short gives me in a premium market with more liquidity to grab on the sellside. 5) Price halts in the bearish FVG mentioned in step 2 and prior to that created a 4H bullish FVG. 6) The CPI release had price wick into the 4H FVG and back into the consolidation we go! 7) Price wicking at multiple occasions in the daily bearish FVG which is to me a primary signal for a short setup despite all the bullish price action around it. Listen, if price breaks buyside aggressively, no short will be taken. We need price to break a low and then a short structure may present itself. 8) Here we have the potential break to the downside, taking out sellside liquidity. We can also call this a break-of-structure. 9) A pullback for a potential short entry and voilà. 10) 2 targets for partials. NFA and happy trading guys! ;)
FX:NAS100Short
by Lexi_Is_Trading
GOLD|Important supply and demand areasCurrently, in the one-hour period, the $2060 area can be a good place for sell positions, of course, be careful not to enter the trade without confirmation. In the first reaction to this area, it went up from the price of 2017$ to 2040$, it gave us a profit of about 230 pips. In the second reaction, collected all the liquidity at the bottom of the range and moved up 2% from there.And moved up about 450 pips. Right now we see that it is bullish in reaction to the demand range.In smaller time frames, it is more likely that it will not react to the range ahead, so if it does not confirm, do not enter the trade. There is a possibility that it will go up to the range of 2080. you can look for a sales position there. This week, look for scalp positions in smaller time frames, even though gold is very bullish this week. In the one-hour time frame, we have the supply and demand of these areas, when we reach these areas, we can have buy or sell positions.
OANDA:XAUUSDLong
by Golden_Star1994
NASDAQ ANALYSIS💸NASDAQ💸 Chart : Daily Overall Trend : Bullish Current Market Structure : Downtrend Scenario 1 : Price is currently waiting to create new higher high on the daily time frame . This cause also give us a confluence as to bullish momentum coming to an end . I will be looking for intra day set ups . But I would like to see how price reacts to our Daily OB . If we do respect our daily OB price will continue moving towards the upside . Scenario 2 : If we do not respect our daily OB . We can expect price to move towards the downside ,signifying that bearish momentum has come into play . & We can look for shorts
CAPITALCOM:US100Short
by Brehayne_
Nasdaq Intraday Review – Friday 12 Jan 2024I trade Nasdaq intraday exclusively Trading in GMT time zone Sharing my post day review & analysis in case it can help you :) After yesterday’s volatility, I knew that today’s PPI would be important for investors. As the day progressed a double top formed on the 1H TF and a head and shoulders formed on the 4H TF, both sharing the same neckline. The pivot had been holding as strong support on a few occasions, but the bearish mood in the market/price action was tangible. Usually I am looking for a buy only, but after yesterday’s CPI I decided to go with what the candles were telling me. I took a sell at A. as price started breaking through the pivot point – Confirmations: - Market pattern – 4H head and shoulders, as well as 1H double top had formed and neckline was broken - Candlesticks: Bulls were failing to break through the resistance at the level indicated by the hand. Four failed attempts had been made. - Fib: Candles were failing to move higher roughly at the 0.618 1H fib level - Trend: There was a temporary downtrend line marked in green - S&R: The pivot point was starting to fail as a support. Took a small position as it was before the PPI and this news release could change market bias. Market moved about 520 pips from my position and I secured at entry. Ultimately price moved back up and I was out at entry. Price reversing at B. was due to this area being one of strong confluences: - Fib: 0.05 buy fib level (fib drawn from swing low at C. to swing high at D.) - Price had travelled down exactly the same distance as the height of the market pattern - S&R: The 4H 20 EMA was at this level at the time and provided dynamic support. This is exactly why I always keep my bias the same as the overall trend because the biggest moves of the day come in the direction of the trend. The sell I took was 520 pips. The buy that came from B. was 1700 pips. Take profit from this buy would have been easy as it hit TP1, so I would have closed a portion of my position and left the rest running. Its frustrating because if I had kept my bias as a buy I definitely would have taken the buy at B. because I like being part of the retest of the neckline that is in the same direction of the overall trend (still bullish, even after yesterday's CPI). But it was a weird day today for me after CPI, market was choppy - so I guess not too bad if I come out with nothing and live to trade another day. Have a great weekend! What could I have done differently: Kept my bias as a buy. TF = timeframe TP = take profit 1H = 1 hour 4H = 4 hour D = day W = week M = month S&R = support and resistance EMA = exponential moving average
PEPPERSTONE:NAS100
by Jinxx84
Nasdaq Intraday Review – Thursday 11 Jan 2024I trade Nasdaq intraday exclusively Trading in GMT time zone Sharing my post day review & analysis in case it can help you :) Thursday was CPI news release. I usually don’t like trading in the hours before the news event because market is often times very flat. I left a small position open from Wednesday, but closed at A. when I noted the weakness on the 15min TF. So I closed this position at a +- 1’200 pip profit. As we were getting closer to CPI, I noted the 30min 20 EMA providing dynamic support. One minute before CPI, I opened a buy at B. For me, news events are like gambling because market can go either way and I don't know how to stack probabilities in my favour. For this reason I went in very small. CPI candle shot down, but I noted the reaction to the pivot point. The closure of the CPI candle formed a nice head and shoulder market pattern on the 1H TF. I knew immediately I was not in a good position with my B. buy and wanted to get out asap. But instead of panicking and closing immediately, I set a mental stop for myself under the pivot point (if candles started closing below this point a sell would ensue). When the second candle came down to the pivot point again, I monitored price action on the 5min TF and decided to open a second position of equal size to my B. position. Second buy position is marked with C. This was right on my mental stop loss, so if market continued to move down I would not have taken a big loss here. However, bulls pushed up to re-test the neckline of the 1H head and shoulders pattern. At about D. (which was where the 1H EMA was positioned at the time), I decided to close my B. position. I felt that the EMA could easily push price back down. At D. I had reduced my loss on B. by about half and considering it was a small position, I was happy to take that loss and get out of this “bad” position. If market would continue to go up then the profit from my C. position would cover that loss easily, but if market went back down then I would be so happy to be out of that position. I secured my C. position at entry (i.e placed stop loss at entry). Phew – I was ok and felt I had managed my risk. I was happy to take the small loss from my B. position and would not re-enter the market if my C. position got taken out. Unfortunately, bulls could not break the neckline of the market pattern and when the candle at E. closed I knew my buy would not work out. I got taken out at entry and stayed out for the rest of the day. Ultimately, I still made pips for the day as the profit from the position I carried over from Wednesday was slightly more than the loss I took for CPI. It was a hectic day and I hope you did well! Today, market looks choppy so far and I believe PPI will bring some more volatility to the table. What could I have done differently: Ultimately, market came up all the way to my B position, meaning that I could’ve closed at entry without taking a loss. If I had looked at the 5min chart, there was no weakness at the 1H 20 EMA level. This means I closed based on fear and not on price action. Next time, I need to remain even calmer and let the candles do the talking. TF = timeframe TP = take profit 1H = 1 hour 4H = 4 hour D = day W = week M = month S&R = support and resistance EMA = exponential moving average
PEPPERSTONE:NAS100
by Jinxx84