My nq price action method

Slugar

As our analysis of the last chart has concluded


I want to add this gentle reminder - be precise when drawing TLs

Overall..., that last chart looks great - just me being my usual anal retentive self

reference the 3 red circles - always start a TL at the end of the wick

:)


RN
 
slugar said:
So the lesson I learned from today is plain and simple follow the rules period.

Today it came down to me anticipating instead of reacting and following my own rules

it had nothing to do with my plan or me spending more time observing, the thing that I get from studying my charts after hours is looking to see what the market does at certain levels and what my plan would have me do when certain things happen,

no amount of screen time watching will help me develop a better plan than the one I have.

Just discipline.
More...

Reviewing your journal - found this gem - make sure to print it out (and post where easily seen)

RN
 
Redneck said:
Quite astute Huyang
You captured not only the essence…, but also the salient points
You are Very Welcome Sir :)
RN
More...

RN:
Thanks for your kind words. I just summarized what you were trying to tell us. Happy Trading to All!
 
Slugar

Sitting here doing my prep for tomorrow and thought of you

Aside; (just to ensure we're in sync)

I work off the following TFs;

Long Term TF (LTTF) – to id the overall trend

Interim TF (ITF) – to id the current trend & zones

Trading TF (TTF) – to trade/ read the inner workings of ITF bar(s)

Short Term TF (STTF) to fine tune entries/ exits / read the inner workings of TTF bar(s)

=============

Anyway...

The LTTF trend is intact – as is the ITF trend – so no adjustments necessary there

The ITF zones – marked the 2 formed Friday.., an removed an older one no longer in play (because price has gone through it.., up and down.., several times)

Marked the H/L of the last bar on the LTTF

Cleaned up the TTF / STTF charts (from Friday's trading)

Made mental notes where these new zones are on all TFs

Marked where price is currently on the STTF / TTF

And that is about it

Not sitting here what if-ing.., or trying to guess / second guess - what price is going to do (hell, we never know anyway)..,

Nor am I doing any other esoteric thing

I have the trend & levels (zones).., (aka my horizontal / vertical map)

I’ve mentally noted where the levels (zones) are on all the TFs

Tomorrow premkt – I’ll observe the PA

Come 9:30 – off to the races

No need to over think this stuff… because fact is…, we never know

Not to mention price may change its mind 37 times between now and tomorrow…, or even 38 or 9

Btw.., took me longer to write this than do my prep

Always strive to K.I.S.S


Granted - futures may be different due to the overnight session... I don't know... and please look into that.... but I bet there isn't that much of a difference (as the majority of volume occurs RTH)


================

Reminder..., tomorrow – absolutely no pressure – and there never should be

Simply..., and always - take it as it comes

RN
 
Another day, another donut, Volume rules when you can such a simple indicator that tells me when not to take a trade. Often times the difference of having a profitable day is not taking 1-2 signals.
 
Todays trades. 1. Long on a double bottom support 3550.75 stop 3548 target 3561 last swing high. 2. Higher low long at 3559.50 stop 3557.25 up move trend line target break of trend line.3.long on another higher low at 3571 stop umtl and target premarket swing high of 3584.4.last trade is a long at bottom of range 3582.75 stop 3580.50 umtl and target top of range 3592.
 
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