Another Straight Line Analysis Journal

Thursday 10th July 2014 :- NQ 1 Min Chart Review
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1. Well I know nothing about predictions. The price went through 41 before the open and then decided to turn around and go back up. I marked a long on the retracement here.

2. We have a retracement here so I marked a short in, which fails quickly on the next bar which makes a slightly higher low than the previous swing low.

3. The next entry is a long after the higher low, supply line break, and retracement. This one moved up above our opening highs, and eventually onwards.
 
Friday 11th July 2014 :- NQ Market Preview
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Yesterday we hit a low of 31 and a high of 89 with a midpoint at 60. Overnight we tested 889 again, and have since fallen off to 878.

So, we have a high at 89, and from the previous day at 91, so this area may have some resistance. Beyond that we have 900 and 918 above it.

We have a recent swing low at 66, and again at 31. The price may decide to test these limits or just stay within the borders. Wait and see.
 
Friday 11th July 2014 :- NQ 1 Min Chart Review
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Tired today, and not trading well. Stayed online mostly to watch, but wasn't on the ball, especially at the open. The price could not break above the Thursday highs in the morning, but we did have some nice clean entries for trades.


1. After the open I was too slow to get onto a short on a rejection of the previous highs. I have marked it in as one that I should have taken.

2. Again there are retracements here for a short, but didn't take it.

3. This one I was awake for. The higher low retracement after the supply line break.

4. The demand line is broken after a failure and lower high at the opening highs (also yesterday's highs). A good place for an SLA short.

5. The price made it back to 50% of the rise, before turning around for a long opportunity. Again, this only made it to the highs before halting.
 
Monday 14th July 2014 :- NQ Market Preview
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After speanding Friday morning within the previous day's range, we broke out in the afternoon, and moved up to close near 900. Since then we have returned to the previous highs around 918, and it wouldn't take much effort to break through from here.

The high of our daily channel is around 970, and if we get there, some brave souls may push for 4000. If we fall at the open, and get below 900, then we start to move towards previous congestion, and further swing lows. Also 50% from the lows of Friday is at 895.
 
Monday 14th July 2014 :- NQ 1 Min Chart Review
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1. This one is a bit of a mess. Probably should have shorted on the first retracement, and a bit reluctant to enter because of the double bottom. Either way it didn't get far before turning.

2. The retracment short here failed on the next bar.

3. The retracement is a long way from the lows, but it also bounces off the 50% point of the rise, and so a long is attempted, which makes it up to the highs at 18.

4. We didn't make it past the highs so I entered a short on the first retracement. This one went nowhere, could be a difficult day today.

5. We finally edged past the highs and I thought that this would be a good place for a long. Maybe a little to early and too greedy with this one.

From here on I just observed. We didn't make it below the 50% area, so that would indicate strength, but we have also stayed within a narrow range. Better to wait for a breakout in either direction.

6. Finally a proper breakout. Long marked on the first retracement.
 
Tuesday 15th July 2014 :- NQ Market Preview
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We eventually reached a high of 31 during the afternoon, before falling towards the close. We still stayed above the previous highs at 18 for the evening, and we have tested that level again in the early morning, reaching a low of 16 before turning up again over the last few hours.

It looks like our early limits will be between 16 and 31, and after these, look for previous areas of interest as we fall, or watch the channel highs as we rise.
 
Tuesday 15th July 2014 :- NQ 1 Min Chart Review
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Not an easy day today. It looked to me like we were going to revolve around the mean after failing to break out of either end of the overnight range, but we eventually fell below the range. The fall from the high was nearly 40 points, but it looks hard to gain even a fraction of that unless I get better at this.

1. After the open we moved slowly upwards to the highs and eventually passed through, for what looked like a good breakout. But we turned straight away, so I looked for a short on the first retracement. This made it back to the mean of the overnight range, which is one of the expected outcomes of a failure to break out of the range.

2. There is a second short here on a retracement, but it fails quickly.

3. Here we have a breakout below the range, and we could put a short on a retracement, but this was never triggered. When the price moved back inside the range I thought we might be going back to the mean or above.

4. This breakout has a retracement that fails to get back into the range. This is a place for a short, although we may be on a day that goes nowhere. In the end it moved down well below the overnight range.

5. The recent supply line has broken, and we have a retracement for a long. This died before it started.

6. We have a higher low here and a possible long, but we are now after 11am, and the power of the moves may becoming weaker.
 
Wedensday 16th July 2014 :- NQ Market Preview
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After testing the highs yesterday, we fell down to 880, before rising, leaving us with a day that ultimately revolved around a mean of 907.

Overnight we moved back up to reclaim all the losses for the day, and then expand into new highs. This wide ranging behaviour during the "close" has happened a few times recently, and movements of 30 or more points have been seen. The markets are being affected by happenings outside of US hours.

The high currently sits at 940, and yesterday's low is at 880. It would be quite easy for today to remain well within yesterday's 60 point range. Still waiting for that 4000 though.
 
Wedensday 16th July 2014 :- NQ 1 Min Chart Review
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We tried a feeble breakout 20 minutes after the open, and that was it for the day. The rest of the time we marched downwards, but it was difficult to get a good clean SLA entry without the stops being trggered. A REV entry at the highs would have worked, but I do not have confidence in them at the moment.

1. This is the first retracement after the opening fall, so it is an opportunity for a short. These can be a mess
this close to the open, and we have a quick 5 point fall, followed by a return to the trigger point.

2. We have a higher low here (which is around yesterday's open), but I didn't put a long in because I felt that I would be drawing a very steep supply line to make the retracement valid. Its a miss of a trade, but I don't mind missing that one.

3. Now we I thought we were going to have a breakout, but it turned before I had finished thinking about what to do. Interestingly the retracement made it to 50% of the rise before turning up again. After this I just watched it move up and down, waiting for something to happen.

4. We broke the demand line after failing yet again at the highs, so I was waiting for a retracement for a short. I sold at the low, which is never good. Looking at this again, we are at the mean so it is not a strong place for a fall. A line break and retracement closer to the highs would be much better.

5. I watched the price fall, and eventually when it had a big drop below the opening lows, I took the supply line break and higher low as an opportunity for a long. It fell without breaking the swing lows, so eventually it went up, but we would need a very wide stop to make that one work.
 
Thursday 17th July 2014 :- NQ Market Preview
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Yesterday we have a 20 point range during regular hours, and 30 points overnight and the morning. Someone is busy playing this after hours.

We have a high way up at 941, and a low at 894. Since hitting the low a few hours ago, we have moved up steadily and are heading towards the 50% point at 917. Above that there is a high at 21 before we move into yesterday's daytime price movements. Below 895, our next major low is at 880.
 
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