{quote} StoppedVery bad results this week!
This is the reason I only use manual stop (in that particular case).
Off course, it doesn't fit to anybody. This is my "style" of trading.
I share it, but no obligation to duplicate.
- #1,083
- Dec 5, 2024 4:33pm Dec 5, 2024 4:33pm
- Joined Jan 2016 | Status: Trader | 3,916 Posts
End of Day Analysis!
NQ made the first red candle after 5 green days in a row, but it's an inside candle. So you can't use it as a change in the direction.
Tomorrow we've NFP. Based on the data:
1- Green data: good for NQ and equities: next stop is: 21630-21660.
These levels are imaginary levels based on TL and ABCD pattern. Other tools may provide other values...So take it with a graine of salt
2- Red data: Profit taking will happen and 21000 and 2075x will be reachable.
GL!
NQ made the first red candle after 5 green days in a row, but it's an inside candle. So you can't use it as a change in the direction.
Tomorrow we've NFP. Based on the data:
1- Green data: good for NQ and equities: next stop is: 21630-21660.
These levels are imaginary levels based on TL and ABCD pattern. Other tools may provide other values...So take it with a graine of salt
2- Red data: Profit taking will happen and 21000 and 2075x will be reachable.
GL!
- #1,085
- Dec 6, 2024 7:22am Dec 6, 2024 7:22am
- Joined Jan 2016 | Status: Trader | 3,916 Posts
{quote} I am expanding the target to higher levels
- #1,086
- Dec 6, 2024 7:35am Dec 6, 2024 7:35am
- Joined Jan 2016 | Status: Trader | 3,916 Posts
End of Day Analysis! NQ made the first red candle after 5 green days in a row, but it's an inside candle. So you can't use it as a change in the direction. Tomorrow we've NFP. Based on the data: 1- Green data: good for NQ and equities: next stop is: 21630-21660. These levels are imaginary levels based on TL and ABCD pattern. Other tools may provide other values...So take it with a graine of salt
- #1,088
- Dec 6, 2024 8:17am Dec 6, 2024 8:17am
- Joined Mar 2006 | Status: Trade the reaction not the news! | 10,359 Posts
- #1,090
- Dec 6, 2024 8:43am Dec 6, 2024 8:43am
- Joined Jan 2016 | Status: Trader | 3,916 Posts
Based on NFP data, here is my planned Buy entry. I need a breakout and a bullish retest.
- #1,091
- Dec 6, 2024 9:15am Dec 6, 2024 9:15am
- Joined Apr 2009 | Status: Live and learn. | 25,175 Posts
"If The Fool persists in his Folly he will become wise." - William Blake
- #1,093
- Dec 6, 2024 9:23am Dec 6, 2024 9:23am
- Joined Jan 2016 | Status: Trader | 3,916 Posts
{quote}I'd say momentum carries us to Dec opex, or even further. There's more data that could stop that - CPI next Wed, then the FOMC & BOJ the following week. AI and crypto hype has never been so feverish and that could carry tech stocks higher for some time. As Trump 2.0 gets closer, I think markets will frontrun the scary parts of that, so I'm expecting a pullback in Jan.
- #1,094
- Dec 6, 2024 11:26am Dec 6, 2024 11:26am
- Joined Mar 2006 | Status: Trade the reaction not the news! | 10,359 Posts
- #1,097
- Edited 12:59pm Dec 8, 2024 12:43pm | Edited 12:59pm
- Joined Jan 2016 | Status: Trader | 3,916 Posts
Upcoming Weekly Analysis!
FA Analysis:
This week, we have key data before the end of the year and before the last FED. These data are not game changer, in particular PCE and PPI data. They might come higher than expectations which is a bad sign for the next year.
So beside the kneejerk reaction, regular and technical flows will take over.
TA Weekly Analysis:
As you can see, NQ provided a strong bullish weekly candle. From TA perspective, a continuation up is the least resistance until the movement exhaust itself. It's a very expensive ticket to jump in if you're not already in.
We need a retrace between 38.2-50-61.8 Fib to have a value area to jump in; otherwise it's very risky.
TA Daily Analysis:
Same thing from daily perspective! We got a bullish close. A continuation up is expected. We have both TL and ABCD pattern that might provide resistance. Watch the price reaction and how the daily will close. Any extension without closing above 21660. it's an early sign of a rejection. You may jump in the sell side with limited risk (few points above the new HH).
TA Hourly Analysis:
The last few hours of Friday session were consolidating. I think a zigzag is going to happen:
1- Zig (up) to reach both TL and ABCD (21642-21662) and even higher to create an extension and trap latest buyers; then
2- Zag (down)
So Asian session might be bullish; Europe session might consolidate; and NY session will sell. (wishful thinking
)
GL Everyone and nice green upcoming week!
FA Analysis:
This week, we have key data before the end of the year and before the last FED. These data are not game changer, in particular PCE and PPI data. They might come higher than expectations which is a bad sign for the next year.
So beside the kneejerk reaction, regular and technical flows will take over.
TA Weekly Analysis:
As you can see, NQ provided a strong bullish weekly candle. From TA perspective, a continuation up is the least resistance until the movement exhaust itself. It's a very expensive ticket to jump in if you're not already in.
We need a retrace between 38.2-50-61.8 Fib to have a value area to jump in; otherwise it's very risky.
TA Daily Analysis:
TA Hourly Analysis:
The last few hours of Friday session were consolidating. I think a zigzag is going to happen:
1- Zig (up) to reach both TL and ABCD (21642-21662) and even higher to create an extension and trap latest buyers; then
2- Zag (down)
So Asian session might be bullish; Europe session might consolidate; and NY session will sell. (wishful thinking
)GL Everyone and nice green upcoming week!
- #1,100
- Dec 9, 2024 9:35am Dec 9, 2024 9:35am
- Joined Jan 2016 | Status: Trader | 3,916 Posts
Good day! Price made the zig up to 21664! The 5min opening range is bearish which is perfect. Looking for a sell opportunity with the breakout and retest strategy. I do not exclude a retest of 21625 before the zag movement.
