After the 5min opening range, price might provide a fake breakout to either side to grab liquidity sitting at weekly/monthly levels (yellow boxes). In this case, the direction will to the opposite side.
- #565
- Oct 4, 2024 9:06am Oct 4, 2024 9:06am
- Joined Jan 2016 | Status: Trader | 3,909 Posts
After the 5min opening range, price might provide a fake breakout to either side to grab liquidity sitting at weekly/monthly levels (yellow boxes). In this case, the direction will to the opposite side. {image}
STOPPED
- #569
- Edited 10:33am Oct 4, 2024 9:21am | Edited 10:33am
- Joined Jan 2016 | Status: Trader | 3,909 Posts
My 2nd and last entry for the day
Edit:
Moved STP to BE.
2nd Edit:
Closed at BE! Done for the week!
Overall, It was not a good week for me. Looking for the next week.
Edit:
Moved STP to BE.
2nd Edit:
Closed at BE! Done for the week!
Overall, It was not a good week for me. Looking for the next week.
- #576
- Oct 6, 2024 5:13pm Oct 6, 2024 5:13pm
- Joined Jan 2016 | Status: Trader | 3,909 Posts
Upcoming Weekly Analysis:
FA Analysis:
NFP data was not digest yet. We got an overshoot that is a good news for equities. In addition, China stimulus were huge and very well received by stocks.
So from FA perspective, Equities direction is up...hence Buy.
This week: not much data beside the FED minutes and Inflation data (irrelevant nowadays!).
Only Risk factor that will send equities down. Unfortunately, this risk is high.
So in this context, the best approach is quick in and out.
TA Analysis:
Weekly Chart:
Indecisive weekly close which is inline with the uncertainty made by the risk factor. This might continue in ST.
Daily Chart:
NQ provided an inside bar. Price needs to break and close above the inside bar for clear direction.
Hourly Chart:
For intraday, Ithink NQ price will go to test both Friday high and low. Which comes first? I've no idea.
Good week!
FA Analysis:
NFP data was not digest yet. We got an overshoot that is a good news for equities. In addition, China stimulus were huge and very well received by stocks.
So from FA perspective, Equities direction is up...hence Buy.
This week: not much data beside the FED minutes and Inflation data (irrelevant nowadays!).
Only Risk factor that will send equities down. Unfortunately, this risk is high.
So in this context, the best approach is quick in and out.
TA Analysis:
Weekly Chart:
Indecisive weekly close which is inline with the uncertainty made by the risk factor. This might continue in ST.
Daily Chart:
NQ provided an inside bar. Price needs to break and close above the inside bar for clear direction.
Hourly Chart:
For intraday, Ithink NQ price will go to test both Friday high and low. Which comes first? I've no idea.
Good week!
- #578
- Oct 7, 2024 8:42am Oct 7, 2024 8:42am
- Joined Jan 2016 | Status: Trader | 3,909 Posts
Good day!
During Asian session, NQ tested Friday high and retraced back towards Friday low, but EU session made a hold.
With the opening range, we got a bullish 5min candle. NVDA also provided a strong bullish opening range.
I will wait for a breakout and retest of the opening range to go long or short.
During Asian session, NQ tested Friday high and retraced back towards Friday low, but EU session made a hold.
With the opening range, we got a bullish 5min candle. NVDA also provided a strong bullish opening range.
I will wait for a breakout and retest of the opening range to go long or short.
- #580
- Oct 7, 2024 10:20am Oct 7, 2024 10:20am
- Joined Jan 2016 | Status: Trader | 3,909 Posts
Finally, I went long.
