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Trading on "Instynct" (NQ)
- Thread starter Instynct
- Start date
Quote from Instynct:
About this set up, i usually look for a fade between 8:40 and 9:10 PST. The idea is to enter as close to the high/low as possible for a scalp, if not a larger move. Obviously the closer your entry is the high/low of the morning, the smaller your stop and the bigger your profit. But you risk missing out on the whole move because price may not reach your price.
Today however the move came early, which was dissapointing because I was waiting patiently for my window of time.
I was thinking the market would recover a bit but was wrong and you can clearly see that in ES. 1284 was support on the hourly and it clearly flipped it. Price action does not get any cleaner than that.
Just got in. Probably won't be able to trade much over the next few days.
As far as the setup though, what is the reasoning for it? Why are you looking for a fade? Was the "I don't wanna hold a position during lunch" statement correct? Similar to sell-offs occurring at the end of the day?
I've taken plenty of lunchtime trades before, just never actually thought of it in that way. Makes sense though.