This might help your pursuit. I call it the New Level Reversal.
In following NQ price action on a 30 minute BAR, almost every
time NQ makes a new price level on a 30 MINUTE BAR
(Up or Down) it will REVERSE.
It usually reverse 70 to 80% of the 30 minute BAR.
Even if you use another time frame, by also observing a
30 minute BAR it will help to define possible move potential.
Another great sequence on the 30 minute BAR.
Use a CLOCK, and you'll notice in most cases,
it will not make it's move (up or down) until
approx 15 minutes after opening of BAR.
30 minute BAR is a beautiful thing for NQ
Hope that helps.
To Your trading Success.
Hello mikeriley,
Thank you for your insight on trading the 30 minute bar. I play with the 3 minute bar when I trade manual.
Do me a big favor please?
I need your help because you seem to have an idea how I can make alot of money day trading the 30 minute bar, correct? And I want to make ALOT of money trading.
My goal is: I want to make $1,000,000 within the next 3 years trading from my trading NQ.
Please provide the following:
1. Using the NQ instrument, tell me a strategy I can program and back test that you are very confident will make alot of money. Something I can scale up from 1NQ contract to XX-XXX contracts to reach my goal within 3 years.
2. Your strategy should be IF-THEN statements only. No "maybe", or "possible", or subjective words.
3. Your strategy should have clear details how to enter and exit the trade. You can add a few exit methods for me to test.
4. You need to be about 95% certain this strategy will make me money to reach my goal within 3 years.
You can PM me if you want to be discrete.
If your strategy pass the back test, I will run it with my own money and in 3 years if the strategy scale up to XX-XXX and make $1,000,000 I will send you about $30,000 or whatever you want.
Thank you sir.