I am planning on running test to see the results from both ways of exiting
My nq price action method
- Thread starter slugar
- Start date
Another option would be taking 1 contract off on the break and using the lsh or swing low for the 2nd
so today in my quest to be more disciplined I only took 3 trades, I was break even after 2 trades and each time the nq would reach 3610-13 I saw resistance and more volume so the last trade I decided to let it run until it tested another volume area at 3598 and thought if it could get below 3598 it would test 93. my 1st trade was a short on a lower high at 3609.50 stop at 3612.75 and target of last swing low of 3598. 2. long on a higher low at 3600.75 stop 3598.350 and target of 3608.25 the last swing high. last trade was a short on a lower high at 3605.75 stop 3609 target 3600.
General Comments
TLs look good
====================
1st trade
short on a lower high at 3609.50
stop at 3612.75
target of last swing low of 3598.
Comment
Entry â Good
Stop â Little generous
Target â Once price went sideways @ ~3700 â then dropped to 3603⦠then back up to ~3700 (in the first half of the chop range I marked in pink) I would have exited
PA was showing strength â which then did peter out quickly (but we didnât know it would until later) (see strength comment on chart)
Trade 2.
long on a higher low at 3600.75
stop 3598.350
target of 3608.25 the last swing high.
Comment
Risky trade â going long into chop.., and weakness (see weakness comments on chart)
Entry â It worked
Stop â Good
Target â Too optimistic given the chop
Last trade
short on a lower high at 3605.75
stop 3609
target 3600.
Comment
Entry â Good (though Iâd be leery of the chop range)
Stop - Good
Target â Excellent (notice â price PB to the small zone (I highlighted) â but no further
Potential DT short w/ a very tight stop â and price had been going down
Or like you did â let it run
Overall - Good Job Sir
============
Aside;
From the outside - trading PA looks easy.... when you actually are - must keep an eye on / be watching - every thing :eek:
It will get easier with time
RN
TLs look good
====================
1st trade
short on a lower high at 3609.50
stop at 3612.75
target of last swing low of 3598.
Comment
Entry â Good
Stop â Little generous
Target â Once price went sideways @ ~3700 â then dropped to 3603⦠then back up to ~3700 (in the first half of the chop range I marked in pink) I would have exited
PA was showing strength â which then did peter out quickly (but we didnât know it would until later) (see strength comment on chart)
Trade 2.
long on a higher low at 3600.75
stop 3598.350
target of 3608.25 the last swing high.
Comment
Risky trade â going long into chop.., and weakness (see weakness comments on chart)
Entry â It worked
Stop â Good
Target â Too optimistic given the chop
Last trade
short on a lower high at 3605.75
stop 3609
target 3600.
Comment
Entry â Good (though Iâd be leery of the chop range)
Stop - Good
Target â Excellent (notice â price PB to the small zone (I highlighted) â but no further
Potential DT short w/ a very tight stop â and price had been going down
Or like you did â let it run
Overall - Good Job Sir
============
Aside;
From the outside - trading PA looks easy.... when you actually are - must keep an eye on / be watching - every thing :eek:
It will get easier with time
RN
Not sure if youâre posing this to Slugar⦠me.., or both
In short;
I see the set up youâve shared in all entries (though some are markedly cleaner than others)
However..,
The longs do not make sense to me â given the PA preceding them.., and unclear signal of each
The shorts do make sense - although the signals on the 2nd / 3rd short are not real clean - the preceding PA does support them
I also think you're more of a scalper â where (and weâve never really discussed it) â Slugar is targeting the meat of moves (swings)
???
RN
I'm a day trader and will take what the market has to offer! I am thinking of a plan that calls for smaller targets between 11:30 and 1:30 cst because to me the moves are more choppy during these times.
Called Lunch
Whenever volume goes away (Big Boys) - PA does get choppy - no one left but the we little people..., and bots to bounce price back and forth
RN