Nasdaq-Simple Intraday Strategy

I hate moments like that.
Thats my trade from yesterday
Just wanted to share that experience with you all
Thats also a part of trading too unfortunally

Good morning

m30 trend construction


Asia and London in the purchase

Good day!
As expected, NQ reached 24151 early during Asian session, then started retracing up...
NY might provide 25150 which is the top for this retrace, in my view.

Side note:
We're still in the Impulsive wave that comprises three mini waves.
Have you notice how fast the Impulsive wave?

Nice and clean chart.

Hi Fahdl,
I didn't notice the waves.
H1 looks like this, 25150-84, I think it could be like this.

I use the waves concept as a framework that add confidence and confluence, but not religiously.
Always Initial wave is slow and boring and Impulsive wave is fast and quick.

Bullish OR. Looking for a quick breakout and retest.
Consumer Confidence data is relevant.
Most likely, I won't take any position today. (I'm in Gold).

GD all, hit and run haha.
I think it could go upper to the resistance zone, for shure, but enough for today.

Robert Miner "Dynamic Trading" is a well written book on E Ws or simply waves and FIB confluence, his other book "High probability Trading Strategies" is also good as well as Carolyn Boroden "Fibonacci Trading", that is of course in addition to the seminal book by Frost and Prechter "Elliott Wave Princible"
My first choice is Dynamic Trading - well written, easy to study (study not just read and forget it) with a good summary of wave characteristics at the end of the book.
I got all of them and many more, studied them long time ago and at times I check that summary at the back of R. Miner book.
R Miner charting software DT is designed to trade using waves, whatever one might call them. The software can be simply operated or more advanced with some automatic functions.
Wishing all a great weekend!

Very nice...

Have a great weekend Everyone!
See you early next week with the Weekly Analysis.

Good Week!
Weekly Analysis!
FA Analysis:
1- US Macroeconomic Data:
1.1.Economic Indicators: So far, US Macroeconomic Indicators are solid; it seems like tariffs did not have a negative impacts!
1.2. Employment: Also signs of some resiliency is present and data is not bad.
1.3. The first time we got an overshoot in Inflation data last week with PPI.
=) this mixed data will be a very difficult context for the FED to cut rates.
2- Risk ON:
2.1. US Internal Affairs: We have some de-escalation from Trump side. It seems the negative pool supports ignites some back steps in this front.
2.2. US-Iran: Negotiations are not advancing and we might see some MARGINAL strikes to save face.
=) From this front, the risk is fading out and it will become non-event for market.
3- New FED's Head: Late last week, Bond market had some sell-off which is a signal that market is starting pricing in the next rate cut.
=) This is good news for equities.
TA Analysis:
Weekly TF:

The Weekly close is NEUTRAL. We got a large wick and price closed above 24885.
If the market opens with a gap, we should reconsider the weekly close and take into consideration the opening price.
From this TF, price might go either direction.
Daily TF:

The daily close is strong bullish, but IRRELEVANT as price closed inside the previous daily candle.
Price made LL-LH. We should expect a continuation down for a new LL.
(Sidenote: When the direction is up or down making HH-HL or LL-LH and we have an opposite candle to the main direction that has the same size of the previous candle, it's usually a trap and price will resume the main direction. Friday candle in comparison to Thursday candle looks like we have this scenario! Take it as a side observation)
H4 TF:
The last H4 candle closed bearish. Price should resume the down movement.

This said, we have to reconsider all TF if price opens with a gap.

Happy green week to Everyone!

Good day...
Nothing to update... Let see how NY opens!

Indicicive OR!

but very agressive

We got a Break up.
With the retest, you may go long. But I'm not interested in the long side. Sidelines for now.

If the current candle closes below Friday High, I'm in.

Edit:
1- The candle did not close below; hence, I'm not in.
Will watch for a red candle that closes below Friday high.
2- Cancelled. No trade today!

I took the morning long and close it, now waiting to see if we get a short signal

Daily Analysis!

1- Bullish Daily close.
2- Price still within LL-LH.
3- Price retraced above 50% fib; it might go just above 61.8fib.
Looking for PA around 25500 LBD (Last Break Down).
NFP data should provide the trigger.

Good day...
Good data is good for equities and bad data is bad.