NQ Day Trading

When time allows i'll record the day trading journey with NQ. Finding 5min price action, EMA200, Pivots & Stoch useful at the moment..this is likely to morph as market conditions change. I'll enter pre-market if there's enough momentum; for instance a straight forward +160T in 5 minutes during UK lunchtime today.

Price below EMA
5min close below S1
Initial target S2 - stoch wasn't overly convincing so all off at S2.

..a similar setup at the open from a close below S2 which hit S3 and a much larger tick haul - wasn't around to trade it.

Edit: Aug 20th - focus has moved to DOW over the last few weeks.

..in a short pre-market, seemed to be holding weak below the round number, which in turn was below the EMA and Pivot. Decided is was worth the risk to hold into the open anticipating a nudge down towards S1. Given the open tends to be erratic and the over-sold stoch, decided to take all off before S1 around the close of the first 5min candle, for +174.

..good payrolls data was anticipated today and price action 5 mins or so before the release seemed to be pointing that way, so took the plunge with a 20 point (80T) stop. R1 was fairly close but reasoned R2 was the better target if the momentum showed up - it did, thankfully, despite poor data and 470T bagged within 5 minutes. R:R 5.88.

..been re-reading Williams' ideas hence the new indis but essentially boils down to the break of swing highs/lows in line with the prevailing trend. I've moved away from TopStep now..took the money and ran - i'm UK based so taking advantage of spreadbetting, which seems fine for the increasing duration of trades; absolutely not the right platform for the previous scalping style to get through the TS combine.

Edit: stopped out at 13218.

is your bottom indicator a cumulative bid/ask?
thanks
goma

..Awesome Oscillator (AO) - i like the idea of 'saucer' top/bottom patterns helping with exits. Trade well my friend.

..and back into the trend once again..
Edit: ..all out at 13301.

..short orders in.

Edit1: filled and underwater straight away - keeping stoploss where it is, if hit there maybe opportunity later.
Edit2: stopped out.

..ok, in again just before the open, long this time, targeting R1 - any upside may be very short-lived..

Edit1: 14:56 stoploss to breakeven.
Edit2: 15:04 momentum towards R1 (2nd chart)..
Edit3: 15:16 stoploss moved to 13282 locking in 51 points (3rd chart)..
Edit4: 15:21 stopped out.

A losing day today but thankfully very small compared with the winning days this week.
Heavily influenced by the inflation theme ..fearful of a snappy reverse back into the higher TF down trend.

..another cagey long so far this session..happy to just follow price and not get too wrapped up in what the 'experts' think. 20 points locked in so far.

Edit1: 16:21 UK - 44 pts now locked in (2nd chart).
Edit2: 16:37 - 62.5 pts locked in (3rd chart).
Edit3: 23:45 - checked before bed and target (R2) hit for 123 pts.

..one trade so far, short, w/ 11 pts locked in..at the time of writing the momentum is strong so might get the carry through to the round number (13200).

Edit1: 16:14 UK - shortlived, all out for 11 points.

2nd trade of the day and short again - spikey, so moved to b/e (more or less) quite quickly...multiple 5min S5 wicks.

Edit1: 17:19 UK - all off for ~1 point.

..nice example of the 3 phases..never paid much attention to it before but will keep in mind moving forward to try and keep in step with the market movers.

Edit1: 37 points locked in (2nd chart).
Edit2: 17:40 UK. Stopped out (+37 pts).

nice chart. phases/zones/levels much more important on larger time frames when swing trading. good work!
regards
goma

LauraT's latest thread is very interesting and will help many people needing a clearly defined method. I've taken parts of it with a couple of tweaks to suit my trading platform and existing framework.

A great example this morning (UK) on the 5min NQ rolling cash!

..long NQ atm with some profit locked in.

Edit: 12:32 UK - stopped out.

..courtesy of LauraT's hrly daylight strat, a 100 point winner at the open.

Oanda charting limited for LauraT's aggro but ok for Turnip's

NAS Cash not FUTS.

NASCASH - Hrly daylight short (%R MAs short), 5min Turnip entry and out at the 200EMA for a quick scalp.

NASCASH hrly indicating short w/%R down through the 50 level..entered from a 5min signal..counter the hrly trend but worth the risk as i'm thinking it is quite extended.

Edit1: 12:46 UK - stop to b/e.
Edit2: 12:52 - stopped out.