My nq price action method
- Thread starter slugar
- Start date
Friday 500 tick chart
trade 1
short on a lower high at 3563.75
stop breach of dmtl aprox. 3565
target 3551 last swing low.
Comment
Entry â Good
Stop â Good
Target â Good
Trade 2.
short on a failure at the last swing high 3563
stop 3567.25 or breach of dmtl
target last swing low of 3549.
Comment
Entry â See âalso DTâ on chart - Good
Stop â Breach of the DT â as the DNTL was not really established
Target â Good
Trade 3.
the nq broke out of congestion and tested the mid point and made a higher low
long at 3553.75
stop of 35551
target last swing high of 66.
Comment
Good job identifying the congestion â I say congestion because the PA is dirty
Entry â Good
Stop â Good
Target â Good â but see how price started ranging when it neared the last SH â it does that â exit â no need giving back money (unrealized profit)
Last trade
higher low at 33569
stop at 3566.25
target breach of up move trend line.
Comment
I think the entry price is screwed up (3356.9)
This is a classic example where former R becomes S (light blue line)
Entry â Good
Stop â Good
Target â Good
===================
All in all..., the context you drew looks good â it is accurate â it reflects what price is saying
And we are PA traders - with the focus / emphasis on P
RN
trade 1
short on a lower high at 3563.75
stop breach of dmtl aprox. 3565
target 3551 last swing low.
Comment
Entry â Good
Stop â Good
Target â Good
Trade 2.
short on a failure at the last swing high 3563
stop 3567.25 or breach of dmtl
target last swing low of 3549.
Comment
Entry â See âalso DTâ on chart - Good
Stop â Breach of the DT â as the DNTL was not really established
Target â Good
Trade 3.
the nq broke out of congestion and tested the mid point and made a higher low
long at 3553.75
stop of 35551
target last swing high of 66.
Comment
Good job identifying the congestion â I say congestion because the PA is dirty
Entry â Good
Stop â Good
Target â Good â but see how price started ranging when it neared the last SH â it does that â exit â no need giving back money (unrealized profit)
Last trade
higher low at 33569
stop at 3566.25
target breach of up move trend line.
Comment
I think the entry price is screwed up (3356.9)
This is a classic example where former R becomes S (light blue line)
Entry â Good
Stop â Good
Target â Good
===================
All in all..., the context you drew looks good â it is accurate â it reflects what price is saying
And we are PA traders - with the focus / emphasis on P
RN
Yo
A trade management to incorporate into the tool kit;
If price between the entry and target â and begins to range
This range;
Could be a PB - which BO and continues
Could be price no longer wanting to continue
Could be price changing its mind..., hence direction
Trade management;
If price BO toward the target â stand pat
If price remains in the range â for what you consider an extended period of time â exit (trades neither working - nor not working - are a wast of our time)
If price BO back toward the entry â (against the position) â exit
And should the range develop close / near the target - exit..... (and don't give it a second thought - always another trade looming on the horizon)
Just a little sumthin â sumthin to add to the ole arsenal Sir
RN
A trade management to incorporate into the tool kit;
If price between the entry and target â and begins to range
This range;
Could be a PB - which BO and continues
Could be price no longer wanting to continue
Could be price changing its mind..., hence direction
Trade management;
If price BO toward the target â stand pat
If price remains in the range â for what you consider an extended period of time â exit (trades neither working - nor not working - are a wast of our time)
If price BO back toward the entry â (against the position) â exit
And should the range develop close / near the target - exit..... (and don't give it a second thought - always another trade looming on the horizon)
Just a little sumthin â sumthin to add to the ole arsenal Sir
RN
todays trades. 1. higher low long at 3574.350 stop breach of up move trend line target 3586 pre market swing high. 2. higher low long at 3588.25 stop 3585.25 1 tick below signal bar and target last swing high of 3597. 3.long above support at 3602 stop 3599.75 target breach of up move trend line. 4.last trade a long above support at 3609.75 stop 3607.50 target breach of up move trend line.
Trade 1.
higher low long at 3574.350
stop breach of up move trend line
target 3586 pre market swing high.
Comment
The circle is on the wrong bar (too low)
Making a breach of the UMTL - the stop⦠before the UMTL is established â canât happen
And if youâre by chance referencing an UMTL that isnât drawn â then that canât happen either - it isn't drawn
The trade is there.., but the context (defining entry & stop) is not clear and concise
Attention to detail - always
Entry â
Stop â
Target â
Trade 2.
higher low long at 3588.25
stop 3585.25 1 tick below signal bar
target last swing high of 3597.
Comment
Much clearer context
Entry â Good
Stop â Good
Target â Good
Trade 3.
long above support at 3602
stop 3599.75
target breach of up move trend line.
Comment
Entry â Good
Stop â Or a breach of the UMTL
Target â Sweet (ride it as long as it permits )
Trade 4.
long above support at 3609.75
stop 3607.50
target breach of up move trend line.
Comment
Entry â Good
Stop â Good
Target â Good
Overall
Trade 1 context / stop is suspect
TLs look good
Horizontal context is on the light side â there's a lot more PA on this chart to build some solid horizontal context on
I adjusted you S to R line just a bit - see if it makes more sense
RN
higher low long at 3574.350
stop breach of up move trend line
target 3586 pre market swing high.
Comment
The circle is on the wrong bar (too low)
Making a breach of the UMTL - the stop⦠before the UMTL is established â canât happen
And if youâre by chance referencing an UMTL that isnât drawn â then that canât happen either - it isn't drawn
The trade is there.., but the context (defining entry & stop) is not clear and concise
Attention to detail - always
Entry â
Stop â
Target â
Trade 2.
higher low long at 3588.25
stop 3585.25 1 tick below signal bar
target last swing high of 3597.
Comment
Much clearer context
Entry â Good
Stop â Good
Target â Good
Trade 3.
long above support at 3602
stop 3599.75
target breach of up move trend line.
Comment
Entry â Good
Stop â Or a breach of the UMTL
Target â Sweet (ride it as long as it permits
)Trade 4.
long above support at 3609.75
stop 3607.50
target breach of up move trend line.
Comment
Entry â Good
Stop â Good
Target â Good
Overall
Trade 1 context / stop is suspect
TLs look good
Horizontal context is on the light side â there's a lot more PA on this chart to build some solid horizontal context on
I adjusted you S to R line just a bit - see if it makes more sense
RN
Todays 500 tick trades. 1. higher low long at 3607.75 stop 3603.75 target BREACH OF UMTL. 2. long on support at 3618 stop 3616 target 3625 last swing high. 3.short on a failure at resistance 3625.50 stop 3627.75 target 3616 last swing low. 4. higher low long and also a 1st pullback after a bounce from support at 3616 stop at 3613.25 target 3623 last swing high. An extra shout out of thanks to Redneck for steering me in the right direction and ammo for helping me with support and resistance