My nq price action method

General comments;

Context looks good

Couple of trade too risky given the PA/ environment

Wondering about the 2 PBs you had to hold through on trade 1

Blue rectangle (referenced in trades 4, 5, 6) – is congestion – best to stay clear of this area (sit on hands when price is in it.., or near it)

Overall – Good Job



Trade 1
higher low long at 3518.75
stop 3515.25
target swing high of 3532.

Comment

Can’t see all the trade (what occurred prior to the entry – nor the swing high target – nevertheless)

Entry – Solid

Stop – Very Nice

Target – holding to the target took some guts – through the PBs that breached your 1st TL – but not your 2nd TL – any thoughts on that?? (see my red circles)


Trade 2.
higher low long at 3527
stop breach of up move trend line approx. 3524.50
target 3532 last swing high.

Comment

I like your TLs

Notice the tails prior to your entry = buying (supports your thesis of going long)

Entry – Very Nice

Stop – Very Nice

Target – Very Nice… also notice the momentum heading into your target


Trade 3.
lower high 3737.75
stop 3541.25
target breach of down move trend line.

Comment

I don’t like this entry…, price had been moving up (buying / aka strength) – and you’re shorting essentially at the bottom of – a zone/ range/ support (highlighted in yellow)

Better if you had allowed price to BOD (if it was going to) then entered short on the next LH or even wait for a PB

Entry – Check your entry price (3537.75???) – trade Risky

Stop – Very Nice

Target – A breach of which DMTL (you’ve drawn 2)



Trade 4.
lower high short 3525.25
stop 3528.75
target swing low of 3510.

Comment

This is a risky entry;

Who’s to say this was not a reversal – price was moving up – then moving down – and now price is in the congestion formed early in the morning (blue rectangle)

Recall when in a range – and tails on top/ tails on bottom – both sides fighting for control

Better to wait till price clears (BO) one side or the other

Entry – Risky

Stop – Solid

Target – Way too optimistic based on the session’s previous PA

Trade 5.
higher low long at 3522
stop below signal bar at 3518.75
target last swing high of 3528.50.6.

Comment

Another risky trade

Price just coming off making a new LOD

It’s forming a small range at the bottom of the congestion (blue box) / and at essentially the bottom of the previous swing low

Entry – It worked…, is all I can say

Stop – Good

Target – Fair enough



Last trade
lower high short at 3543.75
stop 3547
target last swing low at 3528.

Comment

Entry – Good

Stop – Too generous (shorting after strength)

Target – Too optimistic given price cleared the congestion (blue box) & price pierced your 2nd DMTL (green circle) & and price had been moving up with momentum


:)

RN
 
My focus this week will be to concentrate on only the best trades and sit on my hands when the market tells me to be patient.
 
Sweet

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

The zones you've identified - keep em and let's see how/ if price plays to them tomorrow

price - the ultimate arbitrator

RN
 
How about I do the same as you - post what I'm staring at w/ some context

Then we can see how/ if price plays to any of it tomorrow (I’ll post a EOD snippet)



Btw – see where price retraced & tested the pink DMTL (signal courtesy of H123 :) )



Trade Patiently & Selectively Tomorrow - win.., lose.., or draw Sir


RN
 
Today was a very strong up trend from the open. I only marked 4 trades today all longs. 1.long on a higher low at 3678 stop 3674.25 target breach of up move trend line. 2. 3588 another higher low stop at 3585.25 and target breach of up move trend line. 3. long on a double bottom 3591 stop 3588.75 target breach of up move demand line. last trade test of top of range at3603 stop 3600.25 target I set at 8 points the same distance most of the other trades moved before breaking the trend line. Days like today make me wonder if my system needs to be tweaked to catch more of the up move.
 
Overall comments

Good job seeing / accepting it as an up day and going with it – be surprised how many fight themselves during these types of days and keep attempting to short

Makes for a very frustrating day

Love the zone you identified

TLs – Good job

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

Trade 1
long on a higher low at 3678
stop 3674.25
target breach of up move trend line.

Comment

I don’t believe your entry & stop prices


Entry –
Stop –
Target – Good

Trade 2.
3588 another higher low
stop at 3585.25 and
target breach of up move trend line.

Comment

Entry – Good
Stop – Good
Target – Good


Trade 3
long on a double bottom 3591
stop 3588.75
target breach of up move demand line.

Comment

Entry – Good
Stop – Good
Target – Good



last trade
test of top of range at 3603
stop 3600.25
target I set at 8 points the same distance most of the other trades moved before breaking the trend line.

Comment

Entry – Good
Stop – Good
Target – I do not like the way you set this target – by using hindsight bias – please don’t do that going forward (every moment..., and trade..., and outcome - are unique)



Good Job

Btw;

Didn't attach a chart today - because yours is quite good

RN
 
slugar said:
Days like today make me wonder if my system needs to be tweaked to catch more of the up move.
More...

I'll assume you're thinking out loud here... and will reserve comment unless you ask for it...

Or/ And... I can also be a sounding board if you like

RN
 
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