Trading on "Instynct" (NQ)

Tricky way to end the day, ES looked a bit weak there as it got jammed and couldn't break back above it's Prev HOD. I took two more stabs at long break outs late day, they were initially decent winners but turned into losers. So I quickly took a short for a quick scalp. Well, thats trading for you.
 

Attachments

One quick thing about my decision to reverse and go short on the last trade is based on the premise that if the rally fails to continue then there are likely some stuck longs that need to get out. Market showed me +4 pts but i got stopped for +1.75...Just quick instinct on my part, I don't normally reverse position on an uptrend like today.
 
Quote from Instynct:

Tricky way to end the day, ES looked a bit weak there as it got jammed and couldn't break back above it's Prev HOD. I took two more stabs at long break outs late day, they were initially decent winners but turned into losers. So I quickly took a short for a quick scalp. Well, thats trading for you.
More...

What do you look for when you compare ES and NQ? You think one of the leading the other more often? you look for divergences? What scenarios do you want to se in ES compared to NQ to get a higher probability trade in NQ?

best regards
 
Quote from Mushroom:

What do you look for when you compare ES and NQ? You think one of the leading the other more often? you look for divergences? What scenarios do you want to se in ES compared to NQ to get a higher probability trade in NQ?

best regards
More...

Bias or sentiment between the two is what Im looking at. For example, if the bias for NQ is up but ES is either neutral or slightly bearish, I'm more inclined to scalp longs than to hold for large winners.
 
Quote from Instynct:

Bias or sentiment between the two is what Im looking at. For example, if the bias for NQ is up but ES is either neutral or slightly bearish, I'm more inclined to scalp longs than to hold for large winners.
More...

Thanx
 
You must log in or register to reply here.
Back
Top