Price Action - NQ

[lajax]

Here are my PM Levels.

Daily/hr

15m/5m

Although I am in the observation phase I will “venture into hypothesizing about what price is most likely to do where” as Db said. All of this in order to make sense of the PA in interest zones.

 

[lajax]

Day Observations.

(Also posted in TL)

0833: The buyers test the UL of the TR, but they didnt hold an the price falls

0834: The price is close to the MP of the range

0837: If the reversal was taken, at the open maybe now that the trade has lifted off then we could change to a higer bar chart 5m

0840: the sellers found demand in the MP of the TR (grey zone)

0842: the price makes a LL, waiting to see the next action

0845: Next level 90

0847: A decition must be made

0853: the price makes a HL, after reaching the 91,75, close to the LL of the TR AT 90

0855: A HH is done and an uptrend is going on, however note that the PA is around the MP of the TR

0859: If the long was not taken you must wait until the extremes for other oportunity

0903: The price is unable to keep going higher and it remains around the MP 00

0905: Hinge - maybe

0910: the price continues its upward movement (waiting for the UL)

0914: LH - LL

0916: The price falls again around to the MP of the TR

0921: Hinge within the TR

1003: Looks like a BO from the Hinge

1008: FBO

1017: BO to the upside - 1021: FBO

1037: The PA is listless and I am losing focus so I am done for today.

 

[lajax]

Trade review

Today I made one trade, therefore the next exercise, will be tittle as a “Trade Review”. Although I’m in the observation phase I wanted to do it In order to be aware of the PA in those interest zones.

In this order of ideas, in this exercise I will review what effectively happened versus what was expected to happen previous to the Open (Prep)

what effectively happened

Comparison (attached the Expectative if the resolution of the next image is not clear)

This is the first exercise that I do of this type, therefore if there is any comment regarding to it, I will appreciate it

 

[dbphoenix]

Is the first green dot a short?

 

[lajax]

No, the green dot is the open; the fucsia triangle is the short, and the exit the blue triangle

 

[dbphoenix]

OK. When you begin testing, remember that you can't go long if you're short until you exit the short. This will alter your data.

 

[lajax]

Yes, in the chart above there was only one trade, but the platform shows the entry (in this case the short) and the exit (in this case the buy of the short). But is only one trade

 

[dbphoenix]

I understand. Just a reminder of how reality can intrude.

 

[lajax]

Got it thanks . One question: what is your opinion regarding to the exercise? is well done? or it needs something else? I really appreciate your feedback

 

[dbphoenix]

At this stage I think it's great. You won't be able to decide until you've tested potential entries what your criteria will be, e.g., how you want to trade ranges or whether or not you want to trade them at all.