My nq price action method

[dbphoenix]

Quote from slugar:

besides its been resistance in the past I'm not sure

When and where has it acted as resistance?

 

[slugar]

been in a down trend all morning with lower highs and lower lows

 

[slugar]

Quote from dbphoenix:

When and where has it acted as resistance?

It acted as resistance through out the pm session

 

[dbphoenix]

Quote from slugar:

It acted as resistance through out the pm session

Show me.

 

[slugar]

what I saw

 

[dbphoenix]

Quote from slugar:

what I saw

This is not, however, acting solely as resistance. It's acting as resistance, then support, then the midpoint of a trading range, then resistance again. The importance of all this is confirmed by what price does at 1400. However, if you limit your observations to commentary, then none of this registers, and the exercise is essentially pointless.

 

[slugar]

so we have reached Mondays pm high not sure what to think now but the lolr is up on the nq

 

[slugar]

Quote from dbphoenix:

This is not, however, acting solely as resistance. It's acting as resistance, then support, then the midpoint of a trading range, then resistance again. The importance of all this is confirmed by what price does at 1400. However, if you limit your observations to commentary, then none of this registers, and the exercise is essentially pointless.

what do you mean 1400?

 

[dbphoenix]

Quote from slugar:

what do you mean 1400?

2pm

 

[slugar]

demand overwhelmed supply when the fed came out at 1pmcst and made the announcement a lot of trades going on in the 3213 area could serve as a magnet when we get a retracement and maybe a 2nd chance for bears to have a chance to unload their shorts or go long!