Another Straight Line Analysis Journal

Wedensday 25th June 2014 :- NQ 1 Min Chart Review
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Didn't do much today. Again mostly just observed what happened.

1. On the open we touched the morning low at 83 and turned upwards. I did wait until we had broken through the overnight high until I placed a long, but this was too late, or too much like wanting a trade to happen.

2. I could have entered long here on the break of supply line with higher high and retracement, but I left it because it looked like we were in a range between 788 and 802. That was it for today.
 
Thursday 26th June 2014 :- NQ Market Preview
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Yesterday the price hit a low at the open, and moved upwards until the close. Overnight it has settled back to a mean of around 815, and we are currently sitting above the mean before the open.

We have overnight highs at 819, and if we move above this then we can watch for further highs at 823 and 828.

The overnight low is 812 and we have further lows at 98, 88 and 83 from yesterday. The midpoint of yesterday's move up is 803 and the midpoint of our hourly channel is at 805.
 
Thursday 26th June 2014 :- NQ 1 Min Chart Review
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We fell from the top of the channel to the bottom today within 20 minutes of the open. The rest of the morning moved generally sideways.

1. Just before the open we failed to reach yesterday's high. I marked the short on the first retracement after the fail even though it was at the open. I don't know if I could take this in real time, but I have seen how too often I have given litle regard to the failures before the open.

2. This is the next retracement, so I marked in the short also. I would prefer to take the first one, but this is acceptable, although at the overnight low.

3. The price turned at the Midpoint of congestion from the previous days, and the bottom of the 60 min channel. I put a long on the first retracement.

4. We failed to retrace 50% of the fall from the open, and when the DL broke, I put a short on the retracement. By now the price was starting to flatten out after the big fall in the morning. The bars started to overlap, and reduce options for success.
 
Friday 27th June 2014 :- NQ Market Preview
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After moving from the top to the bottom and back to the top again of our 60 Min channel, we are now sitting around the midpoint of the channel. The last few days have made tighter ranges, and while no quite a hinge, there is indescision between buyers and sellers of where to go next. The currently seem happy in this area.

Overnight we have a high of 820, and a low of 808, with a midpoint at 814. Just before the open we are below the midpoint and await the test of the limits at the open.
 
Friday 27th June 2014 :- NQ 1 Min Chart Review
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We atempted to break upwards today and then fell back to wander around a mean. People thinking of the weekend already.

1. We opened straight up to the overnight highs. This point looked like a rejection to me and I was expecting a fall. Instead we moved straight up yesterday's highs.

2. We got to the highs and started to hinge. Eventually it seemed we had broken above, made a lower high and were trying below. I put on a short here, but we moved back to the highs again. Possible range forming.

3. After reaching the mean of our overnight range, we broke the supply line and retraced for a long.

4. Short on retracement. This doesn't go anywhere and we settle down to a tight range.
 
Monday 30th June 2014 :- NQ Market Preview
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We have moved above the previous highs on Friday afternoon, and stayed up there overnight. Overnight we have a high of 38 and a low of 28. This low is our previous high, and the price has bounced off this in the morning, before moving back into the middle of the overnight range. We may test 28 again on the open, and if we get through we could have a sell off to match the gains from Friday.

Above the high of 38 we have open skies, and below 28 we move back into the congestion of the end of last week.
 
Monday 30th June 2014 :- NQ 1 Min Chart Review
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We opened and soon moved upwards to break through the highs. I didn't catch any of the move up. The short attempts failed, as they should on a day which ultimately saw us move well above the highs.

1. I put a short here on the retracement fron the high, but it couldn't break the recent swing low, and was just a pause before another move upwards.

2. Here there is a short after a double top high. This one starts to work and then fails and we move into a sideways range.
 
Tuesday 1st July 2014 :- NQ Market Preview
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The price has continued its march upwards. The daily demand line is strong, and we are consistantly making new highs now. Now we are above 850, people will be looking at the next round number at 900. It will be interesting to see if we get there, and it there is a big profit take at that point. Something to watch for over the week.

Yesterday, after a big fall before the close, which took back a lot of the days gains, we have continued upwards overnight, and have broken the highs before the open. The indications are that there is interest in bringing the price higher.
 
Tuesday 1st July 2014 :- NQ 1 Min Chart Review
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A regular up day today. Everyone seems to want some of this right now.

1. Long on retracement after move up at open. Didn't expect anythig of this one, but it continued upwards after starting slowly.

2. Price paused, but then made a higher high with a retracement for a long.

3. Short that failed quickly. Momentum is up.

4. Long after retracement. This moves slowly upwards and then sideways as we approach 11 am.
 
Wedensday 2nd July 2014 :- NQ Market Preview
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We made it to 894 yesterday. Not quite 900, but close enough that we can touch it easily today. Often after these crazy up days we get a similar reaction downwards, so it will be interesting to see if this happens today. Now that we are close to 900, traders will be dreaming of 4000 for the holiday (and maybe a crash afterwards).

Overnight we have moved between 83 and 91, and we are close to the upper end of this at the moment. A break below 83 could giv us a big fall, and above 91 will see us test at 94, and possibly closer to the 900 mark. Hopefully it will be interesting today and not just a ramble around the mean.
 
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