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Ouch. Basic statistical analysis says it's very unlikely we'll trade below yesterday's low today. 2770 is the level to be paying attention to - if we pull back that far. It needs to hold for a run higher, IMO. Failure there sets up a nice swing down into yesterday's range. Maintaining a long...

Strong market. Let's hope they don't run it too high prior to the Open. An Open around 2770-80 would be nice for a buy in RTH.

This have actual been a sticking point for me in this fast moving market. Normally, I always use limits to enter (and still do when I can), but found that I often were not filled and this could in turn cause me to chase the markets and getting late sub-optimal entries. I solved it, partially...

So, your basic add-on sequence is basically a string of independent trades, right?

Good comments, @comagnum. I couldn't help notice you were posting a 15 second chart. Is that something you typically use for day trading? Do you trade mostly stocks or futures too? I seem to remember seeing you mention trading NQ in the past.

Thank you for your comments, bitstream_ryder. :) For sure - in order for this to work, you do need a strong and continued trend where your initial entry is somewhat early. Mind you - the add-ons does not need to be very wide apart either. It could be as simple as entering on the breakout -...

Probably not. Mostly said as a joke on my part.

Got it. Thanks.

We're scared of the FED and the PPT. :) How do you calculate your 50% retracement? Are you using 24/7 charts? I'm relying mostly on RTH charts, so I had mine at 41,50. I find them to be reliable most of the time, but I may start paying attention to the ones from extended trading hours too.

I do think my original call will play out with the day low coming in the last hour. It's just too easy to get caught up in short term and strong swings up - not seeing the forest for the trees. Trading all the way up to 2748 with momentum got me fooled - particularly since NQ seemed to be...

Increasingly bullish by the minute, but still within the script of a retrace in a down day. Final line in the sand here at 39-43, IMO. Taking out that zone combined with NQ's strength - I'd say long and new highs by the Close.

Sell signals triggered. But still not a clear picture from here, IMO.

Let's see where we end up. I'm certainly cautious against shorting too. NQ have been relatively strong all morning, so it's not a clear short to me. NQ almost back in green now.

And stopped at - 5,00.

Sold 21. Stop at 31. Targeting new lows. EDIT: Stop at 26. Will rather re-enter if stopped.

Bounce as in what exactly? :) I've been anticipating that bounce all day, but by now, I don't think it's happening today. 20 % chance we bottom here based on similar scenarios. That said - the LOD from here does not need to be a lot lower. We may see a small swing up from the current LOD and...

If we are to find a bottom and make new highs - it needs to happen now. Odds favour this trend will continue into the Close with the LOD coming in the last hour.

Who is everyone? I had the impression most people in the journal are bearish? Tough to commit to the short side from here beyond a scalp when every new low is countered by a 6-8 points swing higher.

Open gap at 2650. That's also 4,5 % down. Roughly. Maybe.

Everything seems to say "Sell" now, but with the strong counter moves so far, I've been having a hard time to commit to the short side - mostly taking quick scalps. Wouldn't be surprised to see us put in the LOD here and trade up towards 2780 +, but it's a counter trend move at this point.