NQ Price Action Journal

At the open prices failed to break above R at 99, the failure, along with the break of DL was the trigger for the short. I kept the trade open until price entered PW range (PWH was at 82), I did not manage to reenter after buyers failed to break above the LSH and the trend continued.

As the SL was finally broken and we were around the top of PW range, I decided to take the long side, but the long rapidly failed, I am still thinking I am giving too much time for this failed trades to be closed, need to work on that during the following weeks.

HL+LH is my recipe for a hinge, so a BO was the new way to go for me, the thing here is that the BO rapidly failed and turn into plain chop.

Once again sellers pushed, but failed to keep prices above 77, si I went long on what i considered a failure, then buyers were unable to break above R at 82 and I was once again trapped, that failure alone within the context of the LOLR in the 5 min was enough to close the trade if not short the market. I also exited way too far away.

After the TR was exited I decided to take my chances with a RET to the bottom of the REt, that happened around 10:50. But then sellers lost their interes ant prices kept on finding S above 74, SL from the open was gone, but then again it was almost 11:00 so I called it a day.
 

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Quote from tomerok:

You’re improving dramatically
Keep up the good work

I don’t see any reference to the wider picture… have you been keeping an eye on that during the day?

Tomer.
More...

Thanks I am looking at S/R levels all the time, and also trying to incorporate the PA of the 5 min, not really much attention to the 60 min.
 
I have an idea to think about
after your rev stopped (second entry)
Why not wait for sellers or buyers to show their cards, in the form of new lows
and then enter on the next ret
or if u have a bias for the down side, wait for the upswing, and enter at the first sign of sellers

Tomer
 
Daily:

After a strong gap at on Sunday, buyers could not hold the strong rise in the trend, but that does not mean that the trend is over, we are still above S at 50 and the DL still holds, so this could even be a new opp to join the bull side. LOLR: Up

Hourly

After finding S at PWMP, buyers have retaken control of the market, LOLR: Up

5 min

The trend is up, but we just found R at 73, the only explaination i can find for that is a hinge from last Friday, but I am not sure. LOLR UP
 

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Yesterday I managed to screw myself up, I guess I was just not in the mood, after a couple of short just after the open, I was trying to anticipate the DL break, but as I could see I am not competent for that just yet, so will keep the straight line rules in place as long as I cant get a better understanding of PA.

Anyhow, my trading sucked yest.
 

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Well, i have to clean the dust off my clothes and rise again :D

Daily:

After failing to break PDL, buyers took control of the market and pushed hard towards R at 82.

Hourly

After hitting 82, buyers lost momentum, and prices entered into what looks like a small TC.

5 min

Prices formed a hinge around PDH at 92 (that is the hinge MP as well) After a BO, prices pulled back up and found R at the MP. LOLR: Down.

Given the fact that a purchase around S at 56, would have held until R at 82, I am going to stop the surfing style trading in the NQ, as I have been told several times, that in this market one can trade from S to R, but I have just not listened.
 
Ok, looks like the FOMC has everyone waiting for the Tapering news and this is just too much chop (unless one can take longs at 89 and close at 93.

I will cal it a day. No trades...
 

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