Trading NQ via Price Action

[k p]

The problem w 52 tho is it wasn't a predetermined level but the behavior was there.

Great analysis!

Yes... 52 was out of nowhere... but thats ok. Although a DL wouldn't have been broken after we rejected 45, this was an important level so I wonder if you considered that at all. The long above 4122 was a bit difficult... no? It was an important level, so aren't you supposed to only used the TQ divergence at established S/R? We were well below the rise up from 17-52, and on a 5 min chart, we have a very wide higher low and lower low... so going long off 22 I just didn't see. A DL on the hourly chart mind you does still point in an up direction at this point... but given all the action to the left, it was a busy area.

 

[eminiman414]

Here's some context and the "entry chart" minus the tickq. DB can step in and correct me if I'm wrong in assuming "climactic action"

 

[eminiman414]

Yes 52 was funny I was anticipating 58-60 being reached. But then the mother didn't bite. I hate posting in hindsight. Too lazy to type my notes/prep but it's all in my notebook lol.

 

[k p]

Here's some context and the "entry chart" minus the tickq. DB can step in and correct me if I'm wrong in assuming "climactic action"

That long after the REJ of 4119 is quite obvious to me now too after I looked over my 5 sec charts.

Its interesting that you are calling a poke out of a range a DTDB. My question is what are you gonna do about it... the first one when we fail to go above 52? You end up right back in the range... so you really have to wait to clear the bottom first, and then there is a nice RET in there for a short at about 45... but the DTDB at the top to me doesn't mean you do anything.

The LHDT is just too random for me.. it happens in the middle of nowhere. Mind you, I too had a support level drawn here, based on the low of the range above and a swing point... so I guess it could mean something, but its just not all that juicy, or rather, shorting below it is a bit tricky because to get up there we made a higher high above a previous lower high.

That last long above 22, sure I can see a case for that once a SL is broken and you get the HL and HH on a lower time frame chart, but I think you just have to be going long quite a bit above it... you can have laser precision here like at other levels you get from hourly charts.

 

[k p]

Yes 52 was funny I was anticipating 58-60 being reached. But then the mother didn't bite. I hate posting in hindsight. Too lazy to type my notes/prep but it's all in my notebook lol.

Ok... I believe you! LOL...

You bring up something interesting.. price did make it to 63 later in the day which is the mean of that range... but I wanted to see it get to 72... that juicy level from yesterday!

 

[eminiman414]

zooming out

 

[eminiman414]

technically the poke out of the range is an upthrust according to wyckoff and down out of a range a shakeout. Don't know how much of a poke it has to be to qualify for it to be called an upthrust. These are just my definitions. A dog is just what you expect to happen (continuing higher) doesn't happen.

 

[k p]

Wow... did you just see the spike up now during the overnight session? 1500 contracts... very rare. In regards to your zoomed out chart.. it sure is a thing of beauty. I'd like to say that I would be long from 4080 and still holding!

 

[k p]

technically the poke out of the range is an upthrust according to wyckoff and down out of a range a shakeout. Don't know how much of a poke it has to be to qualify for it to be called an upthrust. These are just my definitions. A dog is just what you expect to happen (continuing higher) doesn't happen.

Sure... but because it doesn't go up like you expect and drops back into the range... does this mean you short? If you got caught in a long in the upthrust... does that mean you sell when back in the range? I get stumped at the "what am I gonna do about it" stage right now.... or rather... i am more focused on what am i gonna do about it than just seeing it.

 

[eminiman414]

well first we had the DT at 51.50 then followed by that poke. and yes the idea is we would travel back to the other end of the range. Mind you this is all happening in 7 minutes time. If I consider the lower portion of the range with the mean of 60 that's 45. So we double top saying price does not want to go back into that range. Why is that not juicy?