NY shorted a couple of times.
1) past 161.8 extension of previous swing, at structure level of previous NSH, 1:1 completion, rotation candle --> short, SL tight above candle and hit: -3.5 points
2) 200% extension of measured swing, 1:1 of subparts of the current swing, bulls faded a little, rotation candle --> short, SL tight above candle, move down and almost 100% correction of immediate swing up, strengthening my belief in a possible correction by the bears. Moved SL to entry point, gave as much room as I could. Stop was hit.
3) Saw this bearish candle appear. Went short under the assumption that an expectation failure was near on the immediate. SL above previous immediate NSH and hit: -3.75 points
4) Price made a very weak NSH, still in the 200% extension and 1:1 completion zone, produced a rotation candle, a doji and another bear candle. When price tested high of second bear candle and was rejected I went short again. Initial target 61.8 correction of the 1:1 that was completed. Unfortunately I choked the trade by protecting too tightly above structure, because I had to leave and couldn't manage my trade for much longer and because the bears were not very convincing to me. Stop was hit +1.5 points.
After that price took a nosedive. *facepalm*
Total of -5.75 points minus costs for NQ.
Not totally unhappy about the trades though.
Could have waited for more weakening to go short but you only see that afterwards of course..
Could have given the trade more room..
1) past 161.8 extension of previous swing, at structure level of previous NSH, 1:1 completion, rotation candle --> short, SL tight above candle and hit: -3.5 points
2) 200% extension of measured swing, 1:1 of subparts of the current swing, bulls faded a little, rotation candle --> short, SL tight above candle, move down and almost 100% correction of immediate swing up, strengthening my belief in a possible correction by the bears. Moved SL to entry point, gave as much room as I could. Stop was hit.
3) Saw this bearish candle appear. Went short under the assumption that an expectation failure was near on the immediate. SL above previous immediate NSH and hit: -3.75 points
4) Price made a very weak NSH, still in the 200% extension and 1:1 completion zone, produced a rotation candle, a doji and another bear candle. When price tested high of second bear candle and was rejected I went short again. Initial target 61.8 correction of the 1:1 that was completed. Unfortunately I choked the trade by protecting too tightly above structure, because I had to leave and couldn't manage my trade for much longer and because the bears were not very convincing to me. Stop was hit +1.5 points.
After that price took a nosedive. *facepalm*
Total of -5.75 points minus costs for NQ.
Not totally unhappy about the trades though.
Could have waited for more weakening to go short but you only see that afterwards of course..
Could have given the trade more room..
