Trading NQ via Price Action
- Thread starter k p
- Start date
i can draw you a chart with some awesome arrows at the end of the day, too!
Arrows can be useful for pointing out things of interest, especially in a picture or a graph, such as a price chart, imo. Of course, the level is of secondary importance, in this case, to what price does when it gets there. In my opinion, of course. Price has just reached the third arrow from the bottom and is finding buyers willing to pay up and above that level, currently. Though for how long? We'll have to wait and see. As I type this, I see a short entry.
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Short, then long, and still long, and looking to see if price can be bid all the way back to yesterday's low.
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Out half 37.25, stopped on swing at 33.50. I'm done for the day - sat here for about four hours longer than usual. I'll update the chart with arrows later, if no one has any objections to it being posted after the EOD. Hint: There is an arrow at 137.50 used to exit half, the trail stop should be easy to pick up on, as I can see it even on a 1 minute bar interval. And it was obvious on a tick chart, imo. 4119 next level below, then 95.75, then the dog didn't back levels 88.25 and 82. At the end of the day, I'd clean it up and just roll with today's low and 119 in addition to the previously noted levels.
There goes that 119. The thing to watch for now is who gets more excited (or agitated), those willing to pay more, or those who demand to pay less.
Regardless, there should be a trade here.
40D.... a question if I may.
A - So you've got the level at 4088 marked. When price comes down to here again, it initially penetrates and recovers a bit, then sideways for a couple of minutes and a further drop. Given that you are entering off tick charts... are you not caught up in chop?
B - I've that this level of 4080 marked on my chart for a long time which is of course the low from Dec 16. Had I been watching live, I might have thought that this wa a good enough place to go long.
C - When we come up to here again, you otline 4119. Initially we go up, then fall through, and up again. Are you not getting chopped up here again? When price turns either right on the level or a couple of ticks just below, it seems more clear as to the REV. But when we penetrate by a few points, and then repenetrate in the opposite direciton... are you having to try multiple times given that your stops seem to be 2 points or so?
I am analyzing all of this on a 1 minute chart... and when it works, it works beautifully, but of course those stops have to be a good 5 or 6 points wide sometimes. Any time I've gone into the lower time frames I haven't been able to decide what to do and I just get chopped up because price doesn't reject at cleaning and goes up and below the level first before the ultimate direction materializes.
A - So you've got the level at 4088 marked. When price comes down to here again, it initially penetrates and recovers a bit, then sideways for a couple of minutes and a further drop. Given that you are entering off tick charts... are you not caught up in chop?
B - I've that this level of 4080 marked on my chart for a long time which is of course the low from Dec 16. Had I been watching live, I might have thought that this wa a good enough place to go long.
C - When we come up to here again, you otline 4119. Initially we go up, then fall through, and up again. Are you not getting chopped up here again? When price turns either right on the level or a couple of ticks just below, it seems more clear as to the REV. But when we penetrate by a few points, and then repenetrate in the opposite direciton... are you having to try multiple times given that your stops seem to be 2 points or so?
I am analyzing all of this on a 1 minute chart... and when it works, it works beautifully, but of course those stops have to be a good 5 or 6 points wide sometimes. Any time I've gone into the lower time frames I haven't been able to decide what to do and I just get chopped up because price doesn't reject at cleaning and goes up and below the level first before the ultimate direction materializes.
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Eddiemorra... I'm gonna have to get a bit tough in my journal because I no longer have patience for the trolls. If you don't understand the significance of those arrows feel free to ask, but if you're trying to make a trollish statement then I'm asking you nicely the first time to stop. My journal will not be used to argue about price action and if you'd like to do that, please start your own thread or take it up with Db because he is more than able to address your concerns.i can draw you a chart with some awesome arrows at the end of the day, too!
(I only put LOL on the end of my comment because its obvious what should be done given the way he presents the info... and I only chuckle because in real time its difficult to sometimes think clearly and yet I know its obvious. If I made a mistake and you're not meaning to troll then I apologize, but it sure seems that way to me)
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Watching in real time now when I got back to my computer and just catching up with the posts to my journal, here is what I see.
D - An excellent short OP here just below that 4145 level, the PDL. Given the 1 minute bars, and the 1 point away entry, the stop would have to be over 8 points.
E - Sure enough, we make a lower high, and now a higher probability short. I really considered this one but didn't pull the trigger.
F - Given that 4119 level 40D outlined, I am watching the 5 sec chart and we initially drop below... then sideways. Once again, I strongly considered shoring here, just below it again. The RET even shows up here in the 1 minute chart, but given the lateness I passed.
Well that was worth at least 10 points in only minutes, which is about my miximum holding time I can manage! LOL And of course the short from below 4145 was a damn good one worth dozens of points. Oh well.... tomorrow is another day.
If anything... playing around with these levels and being guided to them is extremely helpful and should make for quick progress now that I am really focusing on the important bits.
D - An excellent short OP here just below that 4145 level, the PDL. Given the 1 minute bars, and the 1 point away entry, the stop would have to be over 8 points.
E - Sure enough, we make a lower high, and now a higher probability short. I really considered this one but didn't pull the trigger.
F - Given that 4119 level 40D outlined, I am watching the 5 sec chart and we initially drop below... then sideways. Once again, I strongly considered shoring here, just below it again. The RET even shows up here in the 1 minute chart, but given the lateness I passed.
Well that was worth at least 10 points in only minutes, which is about my miximum holding time I can manage! LOL And of course the short from below 4145 was a damn good one worth dozens of points. Oh well.... tomorrow is another day.
If anything... playing around with these levels and being guided to them is extremely helpful and should make for quick progress now that I am really focusing on the important bits.
